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ESPACE MONTMORENCY IN LAVAL COMES ALIVE

ESPACE MONTMORENCY IN LAVAL COMES ALIVE
Canada NewsWire
LAVAL, QC, June 30, 2022

Arrival of Collège Montmorency, Scotiabank, DHC Avocats and the first residential tenants
Visuals available here 
LAVAL, QC, June 30, 2022 /CNW Telbec/ – With the firs…

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ESPACE MONTMORENCY IN LAVAL COMES ALIVE

Canada NewsWire

Arrival of Collège Montmorency, Scotiabank, DHC Avocats and the first residential tenants

Visuals available here 

LAVAL, QC, June 30, 2022 /CNW Telbec/ - With the first residential tenants having started to move in to Espace Montmorency a few weeks ago, MONTONI, Groupe Sélection, the Fonds immobilier de solidarité FTQ and Montez Corporation are proud to announce that several well-known organizations have also chosen this impressive complex, which is already reshaping the new downtown Laval. Following in the footsteps of Deloitte, Groupe Montoni and Groupe Sélection, Collège Montmorency, Scotiabank and DHC Avocats have decided to set up shop in this cutting-edge location, directly connected to the Montréal métro, and offering their employees a bright and lively place to socialize and work together. 

Offices designed to attract and retain talent

Against a background of post-pandemic hybrid work models and labour shortages, when many companies are facing difficulty engaging, attracting and retaining staff, Espace Montmorency, with its over 330,000-square-foot office tower, was conceived and designed with a homelike atmosphere, featuring natural spaces for relaxation, cooperation and recreation. For example, the eighth floor is reserved for collaborative work: coworking space; meeting rooms available by reservation; and terraces that can be used by all tenants. Future corporate tenants will benefit from a strategic location, accessible against the flow of traffic during rush hours and offering a vibrant and dynamic downtown-like atmosphere as well as a huge green courtyard and sunny terraces.

In addition to being less expensive to operate per employee than other comparable spaces in Laval and Montréal because of its density potential, the project incorporates an energy loop which, thanks to the exchange and recovery of energy between uses, enables a 50% reduction in energy costs and an 80% reduction in GHG emissions. In addition, Platinum – the highest LEED building core and shell rating – is being targeted for the complex's office tower. The other components of the project are aiming for LEED Gold certification.

Smart concierge

In order to facilitate the life of workers, residential tenants and visitors, Espace Montmorency offers a highly personalized concierge service that is 100% integrated within the project. Remote door unlocking and automatic elevator control, dynamic predictive parking, room reservations, restaurant and service ordering, smart lockers, environmental control, and security notifications are just a few of the facilities that will be available through the smart mobile application.

Some 20 new retail banners

In the coming months, tenants will benefit from some 20 stores and restaurants that have confirmed their presence: Five Guys, Sushi Katsuné, Miss Pho, M4 Burritos, Olivia's Authentic Chicken, Starbucks, Milestones, La Belle & la Bœuf, Chocolato, Souvlaki Bar, Presotea, Sésame, Aisle 24 (self-serve grocery store), Institut Béa, Lunetterie Parade, Benny & Co., Ange Boulangerie, Kababgy and Poulet Rouge.

Residential towers fully ready by July 1 

The first residential tenants started moving into the more than 700 units of two of the three concept rental residences – Yimby and Hoop – at the beginning of June. The third concept building, Waltz, will open its doors on July 1. These housing concepts highlight a diversified and avant-garde intergenerational offering and seek to create a dynamic living environment and a strong community spirit. All are linked to Espace Montmorency's local services and share various common spaces designed to encourage interaction and increase the sense of belonging of residents of all ages.

Shops and restaurants will open this summer, and this fall the office spaces will start welcoming workers from the various organizations that have chosen to set up shop at Espace Montmorency. A Courtyard by Marriott hotel will begin operating in the winter of 2022-2023.

QUOTES

"While the return to the office in hybrid mode is essential for team motivation, talent retention and attraction, Espace Montmorency, with its shops and numerous restaurants, offers a dynamic environment of incomparable quality that is fully adapted to the new reality of the working world. Collège Montmorency, Scotiabank and DHC Avocats will benefit from the expertise that we have developed in the design of post-pandemic offices and that we are providing for our clients."

Dario Montoni, President, Groupe Montoni

"We are proud to be welcoming Espace Montmorency's initial residential tenants. We are pleased to offer a unique living environment that will bring generations together in the heart of Laval's biggest mixed-use real estate project and that will certainly reshape its downtown area. After three years of construction interrupted by a global pandemic, I would like to commend the work of all the teams who have successfully completed this project within the planned time frame." 

 – Réal Bouclin, President-Founder and CEO, Groupe Sélection

"Today we are witnessing the tremendous success of this innovative project that is attracting multi-generational residents and employees of thriving companies to this new urban hub. We are proud to see the completion of this outstanding project, which is fully aligned with our organization's mission: to create wealth throughout Québec. With its mixed use and the creation of some 3,200 jobs throughout the project's development, we can truly say: mission accomplished."

– Normand Bélanger, President and CEO, Fonds immobilier de solidarité FTQ

"After many months of hard work, we are delighted that, starting in the winter session, the Collège will be able to move into this location featuring classrooms, meeting rooms, study spaces, social areas and administrative offices. This is a historic moment for our community and is in line with our new strategic plan: Horizon 2026. It should be pointed out that the space deficit still exists at the Collège and that we will be continuing our efforts over the next few years to resolve it and meet the aspirations of Laval's youth."

Olivier Simard, Director General, Collège Montmorency

"In addition to its strategic location, which will enable us to increase synergies among our business lines already established in the area, the modernity, flexibility and quality of the office spaces available are without a doubt what convinced us to choose Espace Montmorency. We will be setting up a financial centre that will bring together our mid-market banking teams, our Roynat subsidiary, and our wealth management teams. We will be very pleased to welcome our clients to this avant-garde environment, which reflects the quality of the services we provide them, as well as to offer our employees a stimulating, state-of-the-art workplace that brings together under one roof many amenities that will make their lives easier."

Mathieu Beaudoin, Senior Manager, Global Communications and Public Affairs,
Scotiabank

"The proximity of the métro is an important advantage for us in a competitive market for talent. Especially since our Espace Montmorency offices will be directly linked by métro to our offices located at the Tour de la Bourse in downtown Montréal. Imagine how easy it will be for our clients and employees to access our two places of business! We look forward to welcoming them to this modern, natural light-filled location, which holds a pivotal position for the Laval and North Shore business community."

Steve Cadrin, Partner, DHC Avocats

About Espace Montmorency

Valued at more than $450 million, Espace Montmorency is a mixed-use urban development comprising four towers. The first project in Québec to be certified LEED v4 Gold ND (Neighbourhood Development ) and aiming for LEED Platinum and Gold certification, Espace Montmorency provides direct access to Montmorency métro station and harnesses the potential of this area, which revolves around transit-oriented development (TOD). Located east of Autoroute des Laurentides, between Du Souvenir and De la Concorde West boulevards, next to Place Bell, it marks the birth of Laval's new downtown.

THE PROJECT AT A GLANCE
  • Developed by MONTONI, Groupe Sélection, Fonds immobilier de solidarité FTQ and Montez Corporation
  • Valued at $450 million
  • Designed by Sid Lee Architecture
  • 1.3 million square feet of rental space
  • 4 main towers
    • Tower 1: Residential
    • Tower 2: Offices
    • Tower 3: Courtyard by Marriott Hotel
    • Tower 4: Residential
  • 500,000 square feet of office and commercial space
  • Over 700 residential units :
    • Yimby, rental apartments designed for young professionals, with integrated and modular furniture that can be adapted to suit the needs of the tenants, and a unique community spirit;
    • Hoop, which offers rental condos that are perfectly adapted to all types of families, whether as a couple, with children, friends, and even four-legged companions;
    • Waltz, which allows those who want to take full advantage of their freedom to live in first-rate rental condos that offer spaces that are as roomy as they are refined, with their impeccable finishes down to the smallest detail.
  • 188-room Courtyard by Marriott hotel
  • 60,000 square feet of lush courtyard space
  • Rooftop terraces
  • 50,000 square feet of public green space
  • Smart underground parking
  • Bicycle parking
  • Charging stations for electric cars
  • Unique customized smart mobile app to optimize the concierge experience for users
  • LEED v4 QA Gold for Neighbourhood Development certification: achieved
  • LEED v4 Platinum certification for the core and shell of the office tower: targeted
  • LEED v4 Gold certification for the core and shell of the residential towers and hotel tower: targeted
About MONTONI

A leader in real estate development in Québec, MONTONI has a portfolio of close to 500 projects representing more than 20 million square feet of industrial, commercial, institutional and residential construction, 30 head offices and another 22 million square feet under development. Proud holder of the Canada's Best-Managed Companies designation for more than 20 years, Montoni Group has secured itself a prime position holding large land portfolios in the Greater Montréal region. The company distinguishes itself by offering a full range of services covering development, construction—from excavation to interior design—and property management. A LEED-accredited member of the Canada Green Building Council, MONTONI is committed to building a sustainable heritage based on leading-edge expertise. The Group has more than 4.5 million square feet of LEED-certified buildings.  www.groupemontoni.com 

About Groupe Sélection

Groupe Sélection is a Canadian leader in the creation and management of living environments where all generations can gather and flourish. With 30 years of unprecedented growth, Groupe Sélection is the largest privately owned company in the country's retirement complex sector. Groupe Sélection innovates through its forward-thinking intergenerational vision and its unique vertically integrated structure. These assets are the pillars of its geographic expansion and the diversification of its real estate products for youth, families and retirees. Today, Groupe Sélection has more than 50 housing complexes in operation, under construction and under development in Canada and the United States, with assets in excess of $5 billion. Headquartered in Laval, Québec, Groupe Sélection employs more than 5,000 people who work every day for the well-being of some 15,000 customers with an exceptional satisfaction rate of 95 %.  www.groupeselection.com

About the Fonds immobilier de solidarité FTQ

Created in 1991, the Fonds immobilier de solidarité FTQ promotes economic growth and employment in Québec by strategically investing in profitable and socially responsible real estate projects in partnership with other industry leaders. The Fonds immobilier backs mixed-use, residential, office, commercial, institutional and industrial projects of all sizes across Québec. As at December 31, 2021, the Fonds immobilier had 54 projects under development worth $4.9 billion, 84 portfolio properties under management, 1.8 million square feet of land for development, and $146 million allocated to affordable, social and community housing. The Fonds immobilier is a member of the Canada Green Building Council, Québec division. www.fondsimmobilierftq.com

About Montez Corporation

Founded in 2002, Montez Corporation is one of Canada's leading real estate asset class investment managers focused on creating value through sourcing, transacting, managing, and developing large-scale real estate investments. Montez has raised over $3.5 billion of equity for its income, growth urban, and development strategies. Currently, Montez owns interest in a portfolio representing over 25 million square feet valued at more than $7.5 billionwww.montezcorp.com

About Collège Montmorency

For more than 50 years, Collège Montmorency has been the only college-level institution in Laval. In 2020-2021, it welcomed more than 8,000 students. Twenty-eight programs of study are offered: 5 in pre-university training and 23 in technical training. Work-study programs are available in 19 programs. The adult clientele has access to 15 programs leading to an Attestation of College Studies (ACS), a Diploma of College Studies (DCS) program in nursing (180.B0), upgrading for people in employment, customized courses, a francization program and a Reconnaissance des acquis et des compétences (recognition of prior-learning and competencies, or RAC) service. In addition, many companies are served by the customized in-company training service. www.cmontmorency.qc.ca

About Scotiabank

Scotiabank is a leading bank in the Americas. Guided by our purpose: "For every future," we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of over 90,000 employees and assets of approximately $1.3 trillion (as of April 30, 2022), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). www.scotiabank.com  www.banquescotia.com

About DHC Avocats

DHC Avocats is one of the largest law firms in Québec. Founded more than 30 years ago and specializing in municipal and labour law, the firm has also developed a recognized expertise in environmental law, as well as in administrative, civil and commercial litigation by relying on the experience and know-how of its team of more than 30 lawyers. DHC's close relationship with its clients has enabled it to acquire a thorough understanding of their internal operations and the challenges they face. DHC is always ready to listen and to engage in dialogue with its clients in order to implement innovative and beneficial solutions to the legal issues they face. www.dhcavocats.ca 

SOURCE Fonds de solidarité FTQ

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Economics

Reduced myocardial blood flow is new clue in how COVID-19 is impacting the heart

Patients with prior COVID may be twice as likely to have unhealthy endothelial cells that line the inside of the heart and blood vessels, according to…

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Patients with prior COVID may be twice as likely to have unhealthy endothelial cells that line the inside of the heart and blood vessels, according to newly published research from Houston Methodist. This finding offers a new clue in understanding covid-19’s impact on cardiovascular health.

Credit: Houston Methodist

Patients with prior COVID may be twice as likely to have unhealthy endothelial cells that line the inside of the heart and blood vessels, according to newly published research from Houston Methodist. This finding offers a new clue in understanding covid-19’s impact on cardiovascular health.

In a new study published today in JACC: Cardiovascular Imaging, Houston Methodist researchers examined the coronary microvasculature health of 393 patients with prior covid-19 infection who had lingering symptoms. This is the first published study linking reduced blood flow in the body and COVID-19.

Using a widely available imaging tool, called positron emission tomography (PET), researchers found a 20% decrease in the ability of coronary arteries to dilate, a condition known as microvascular dysfunction. They also found that patients with prior COVID-19 infection were more likely to have reduced myocardial flow reserve – and changes in the resting and stress blood flow – which is a marker for poor prognosis and is associated with a higher risk of adverse cardiovascular events.

“We were surprised with the consistency of reduced blood flow in post covid patients within the study,” said corresponding author Mouaz Al-Mallah, M.D., director of cardiovascular PET at Houston Methodist DeBakey Heart and Vascular Center, and president elect of the American Society of Nuclear Cardiology. “The findings bring new questions, but also help guide us toward further studying blood flow in COVID-19 patients with persistent symptoms.”

Dysfunction and inflammation of endothelial cells is a well-known sign of acute Covid-19 infection, but little is known about the long-term effects on the heart and vascular system. Earlier in the pandemic, research indicated that COVID-19 could commonly cause myocarditis but that now appears to be a rare effect of this viral infection.

A recent study from the Netherlands found that 1 in 8 people had lingering symptoms post-covid. As clinicians continue to see patients with symptoms like shortness of breath, palpations and fatigue after their recovery, the cause of long covid is mostly unknown.

Further studies are needed to document the magnitude of microvascular dysfunction and to identify strategies for appropriate early diagnosis and management. For instance, reduced myocardial flow reserve can be used to determine a patient’s risk when presenting with symptoms of coronary artery disease over and above the established risk factors, which can become quite relevant in dealing with long Covid.

Next steps will require clinical studies to discover what is likely to happen in the future to patients whose microvascular health has been affected by COVID-19, particularly those patients who continue to have lingering symptoms, or long COVID.

This work was supported, in part, by grants from the National Institutes of Health under contract numbers R01 HL133254, R01 HL148338 and R01 HL157790.

———————–

For more information: Coronary microvascular health in patients with prior COVID-19 infection. JACC: Cardiovascular Imaging. (online Aug. 16, 2022) Ahmed Ibrahim Ahmed, Jean Michel Saad, Yushui Han, Fares Alahdab, Maan Malahfji, Faisal Nabi, John J Mahmarian, John P. Cook, William A Zoghbi and Mouaz H Al-Mallah. DOI: www.doi.org/10.1016/j.jcmg.2022.07.006

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War, peace and security: The pandemic’s impact on women and girls in Nepal and Sri Lanka

The impacts of COVID-19 must be incorporated into women, peace and security planning in order to improve the lives of women and girls in postwar countries…

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Nepalese girls rest for observation after receiving the Moderna vaccine for COVID-19 in Kathmandu, Nepal. (AP Photo/Niranjan Shrestha)

Attention to the pandemic’s impacts on women has largely focused on the Global North, ignoring countries like Nepal and Sri Lanka, which continue to deal with prolonged effects of war. While the Nepalese Civil War concluded in 2006 and the Sri Lankan Civil War concluded in 2009, internal conflicts continue.

As scholars of gender and war, our work focuses on the United Nations Security Council Resolution 1325 on women, peace and security. And our recently published paper examines COVID-19’s impacts on women and girls in Nepal and Sri Lanka, looking at policy responses and their repercussions on the women, peace and security agenda.

COVID-19 has disproportionately and negatively impacted women in part because most are the primary family caregivers and the pandemic has increased women’s caring duties.

This pattern is even more pronounced in war-affected countries where the compounding factors of war and the pandemic leave women generally more vulnerable. These nations exist at the margins of the international system and suffer from what the World Bank terms “fragility, conflict and violence.”

Women, labour and gender-based violence

Gendered labour precarity is not new to Nepal or Sri Lanka and the pandemic has only eroded women’s already poor economic prospects.

Prior to COVID-19, Tharshani (pseudonym), a Sri Lankan mother of three and head of her household, was able to make ends meet. But when the pandemic hit, lockdowns prevented Tharshani from selling the chickens she raises for market. She was forced to take loans from her neighbours and her family had to skip meals.

Some 1.7 million women in Sri Lanka work in the informal sector, where no state employment protections exist and not working means no wages. COVID-19 is exacerbating women’s struggles with poverty and forcing them to take on debilitating debts.

Although Sri Lankan men also face increased labour precarity, due to gender discrimination and sexism in the job market, women are forced into the informal sector — the jobs hardest hit by the pandemic.

Two women sit in chairs, wearing face masks
Sri Lankan women chat after getting inoculated against the coronavirus in Colombo, Sri Lanka, in August 2021. (AP Photo/Eranga Jayawardena)

The pandemic has also led to women and girls facing increased gender-based violence.

In Nepal, between March 2020 and June 2021, there was an increase in cases of gender-based violence. Over 1,750 incidents were reported in the media, of which rape and sexual assault represented 82 per cent. Pandemic lockdowns also led to new vulnerabilities for women who sought out quarantine shelters — in Lamkichuha, Nepal, a woman was allegedly gang-raped at a quarantine facility.

Gender-based violence is more prevalent among women and girls of low caste in Nepal and the pandemic has made it worse. The Samata Foundation reported 90 cases of gender-based violence faced by women and girls of low caste within the first six months of the pandemic.

What’s next?

While COVID-19 recovery efforts are generally focused on preparing for future pandemics and economic recovery, the women, peace and security agenda can also address the needs of some of those most marginalized when it comes to COVID-19 recovery.

The women, peace and security agenda promotes women’s participation in peace and security matters with a focus on helping women facing violent conflict. By incorporating women’s perspectives, issues and concerns in the context of COVID-19 recovery, policies and activities can help address issues that disproportionately impact most women in war-affected countries.

These issues are: precarious gendered labor market, a surge in care work, the rising feminization of poverty and increased gender-based violence.

A girl in a face mask stares out a window
The women, peace and security agenda can help address the needs of some of those most marginalized. (AP Photo/Niranjan Shrestha)

Policies could include efforts to create living-wage jobs for women that come with state benefits, emergency funding for women heads of household (so they can avoid taking out predatory loans) and increasing the number of resources (like shelters and legal services) for women experiencing domestic gender-based violence.

The impacts of COVID-19 must be incorporated into women, peace and security planning in order to achieve the agenda’s aims of improving the lives of women and girls in postwar countries like Nepal and Sri Lanka.

Luna KC is a Postdoctoral Researcher at the Research Network-Women Peace Security, McGill University. This project is funded by the Government of Canada Mobilizing Insights in Defence and Security (MINDS) program.

Crystal Whetstone does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

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Economics

Target Sets Sights on Holiday Season, Has Plan for High Inventory

Target said that it still expects spillover from inventory rightsizing to the tune of $200 million in the third quarter.

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Target said that it still expects spillover from inventory rightsizing to the tune of $200 million in the third quarter.

Target's  (TGT) - Get Target Corporation Report strategy is paying off as the company's stock falls on heavy volume following its earnings release. 

Normally, a profit miss as wide as Target's, 39 cents per share vs. expectations of 72 cents per share, would result in a bigger drop than Target's, but the retailer has been prepping the market for this miss all summer. 

The inventory the company built up during the height of the pandemic, as Americans shopped more from home, needs to go, and the only way get rid of the excess product is deep discounts. 

"Back in June, we announced that our team would be undertaking a bold effort to rightsize our inventory position in the categories for which demand patterns have radically changed," CEO Brian Cornell said during the company's earnings call. "While this decision had a meaningful short-term impact on our financial results, we strongly believe it was the best path forward."

Now, looking forward the company sees some overhang for the third quarter, but expects a big holiday season ahead. 

While some fear a recession and what it might do to the economy, Target is convinced that the holiday season will be strong.

Image source: John Smith/VIEWpress.

Target Aims for Holiday Season

While Target is focused on the back-to-school season currently underway, the company expects "spillover" from its inventory issues to be present during the third quarter to the tune of $200 million. 

But the company's own checks suggest that its shoppers are excited about the holiday season. 

"The one thing that seems to be very consistent is a guest and consumer who says they want to celebrate the holiday seasons so we certainly expect that they are going to be celebrating Halloween this year and actively trick or treating and hosting parties with friends and family," Cornell said.

"We know they're looking forward to Thanksgiving and they're going to look forward to celebrating the Christmas holidays and that comes down each and every week as we survey consumers and talk to our guests so that gives us great optimism for our ability to perform during these key holiday seasons"

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Not only does Target expect a strong quarter, but the company also expects favorable comps as fourth quarter headwinds from a year ago aren't present this time around. 

"Guests already have their sights set on upcoming holidays and seasonal moments in Q3 and beyond," Cornell said.

Target's Q2 Collapse

Target said adjusted earnings for the three months ending in July were pegged at 39 cents per share, down 89% from the same period last year and well shy of the Street consensus forecast of 72 cents per share.

Group revenues, Target said, rose 3.5% to $26 billion, essentially matching analysts' estimates of a $26.04 billion tally. Target said same-store sales rose 2.6%, again shy of the Refinitiv forecast of 3.2%, while operating margins fell to 1.2%, below the group's July guidance of a 2% level. 

Earlier this summer, Target cautioned that its bigger-than-expected 35% build-up in overall inventories over the first quarter would trigger price cuts, adding that deeper discounts would be needed to shift the excess goods onto a customer base that was already pulling back on discretionary spending.

Walmart  (WMT) - Get Walmart Inc. Report, Target's larger big box rival, said Tuesday that improving spending trends, as well as actions the group has taken to shift excess inventory, will ease some of the pressures it expects to face in terms of overall profits over the back half of the year.

Walmart said adjusted earnings for the three months ended in July came in at $1.77 per share, down one penny from the same period last year but well ahead of the Street consensus forecast of $1.62 per share.

Group revenues, the company said, were tabbed at $152.9 billion, an 8.4% increase from last year that topped analysts' estimates of $150.81 billion. U.S. same-store sales rose 6.5% from last year, the company said, firmly topping the Refinitiv forecast. 

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