Ivanhoé Cambridge continues development of Centropolis in Laval with the start of construction of 3055 Saint-Martin Ouest

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Ivanhoé Cambridge today announced it is investing $30 million to build a six-storey Class A office building at Centropolis, in the heart of downtown Laval. The building, 3055 Saint-Martin Ouest, is one of the most significant developments in the area over the past five years, and strengthens Centropolis’ role as a multipurpose services hub. “We are very pleased to move ahead with this project, which will help enhance our offering in one of the most dynamic geographic areas in Quebec,” said Daniel Fournier, Chairman and Chief Executive Officer, Ivanhoé Cambridge. “This initiative is perfectly in keeping with our development plan for value-added commercial properties in Quebec.” The advent of 3055 Saint-Martin Ouest is an integral part of the process of developing the Centropolis concept: a prestigious open-air property owned by Ivanhoé Cambridge: a lifestyle and work destination that re-creates a neighbourhood spirit in an urban-style setting. The start of construction on 3055 Saint-Martin Ouest is scheduled for this fall, with delivery expected in 2014. “Many businesses in the service sector are choosing Laval to be closer to their client base and also to make their employees’ commutes easier, and this is driving demand for quality office properties,” explained Jean Laramée, Senior Vice-President, Eastern North American Portfolio, Ivanhoé Cambridge. “3055 Saint-Martin Ouest will increase density at Centropolis as well as enhance the complex’s visibility, which is of crucial importance to Laval. Activities in the area, customer flow, and vitality of tenant businesses will all increase as a result.” 3055 Saint-Martin Ouest will be built to the highest construction standards in the industry, aiming for LEED® Core & Shell Silver certification, making it an attractive choice for companies with elevated corporate social responsibility standards. Centropolis boasts an outstanding location: the office property will be built on Saint-Martin Boulevard, near the Laval courthouse and within sight of Highway 15. The site is already home to 47 businesses, 23 restaurants and bars as well as 24 offices and service centres, employing some 1,600 people. About Ivanhoé Cambridge Ivanhoé Cambridge is one of the world's 10 largest real estate companies. As at December 31, 2011, its assets totalled more than C$30 billion and could be found in over 20 countries around the world. Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec (www.cdpq.com), one of Canada's leading institutional fund managers. For more information, visit www.ivanhoecambridge.com. false false false