News release Place Ville Marie Esplanade

Ivanhoé Cambridge begins major work to the Place Ville Marie Esplanade

Real Estate Montréal,
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The $200 million investment will make the Esplanade one of Montreal’s landmark public gathering spaces

Initiating a new chapter in the “Projet Nouveau-Centre,” its plan for downtown Montreal, Ivanhoé Cambridge announces today an investment of $200 million to revitalize the Esplanade and renew the commercial offering at Place Ville Marie.

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“Place Ville Marie is the heart of downtown Montréal,” said Bernard Poliquin, Ivanhoé Cambridge Senior Vice President, Office, Quebec. “The Esplanade will be one of Montreal’s major urban gathering locations. The Esplanade will be programmed with cultural and experiential activities rivalling those of the great international metropolises.”

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To execute this historic project, Ivanhoé Cambridge has called upon Montreal firms Sid Lee Architecture and Menkès Shooner Dagenais Létourneux Architectes.

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“Our primary goal is for this civic space to be a catalyst for downtown social activity,” said Jean Pelland, Architect and Senior Partner, Sid Lee Architecture. “Given the importance of this iconic space, we sought additional exposure to urban activity, making it more accessible and usable. Our major architectural interventions are in line with this desire for great openness.”

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Eager to enhance Place Ville Marie within its historical context, the Ivanhoé Cambridge teams met with one of the original architects, Henry N. Cobb. Mr. Cobb stated: “The Esplanade revitalization has been thoughtfully conceived and brilliantly imagined. This work will greatly enhance Place Ville Marie’s contribution to the civic life of Montreal, fulfilling the promise of our original vision and thereby making me enormously happy.”

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Projet Nouveau-Centre: an identity for Ivanhoé Cambridge’s plan for downtown Montreal

The revitalization of the Esplanade is a new milestone in Projet Nouveau-Centre, Ivanhoé Cambridge’s plan to invest $1 billion in downtown Montreal. With Place Ville Marie at the heart of the strategy, the Projet Nouveau-Centre aims to invest in Ivanhoé Cambridge’s flagship downtown properties and to enhance the urban experience in the heart of the city centre. All projects in the plan are now in full motion:

  • Fairmont The Queen Elizabeth (reopened in July 2017)
  • Maison Manuvie (to be inaugurated on November 27, 2017)
  • Place Ville Marie (in progress from 2018 to 2019)
  • Montreal Eaton Centre (ongoing until 2020).
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About Ivanhoé Cambridge

Ivanhoé Cambridge, a global real estate industry leader, invests in high-quality properties and real estate companies in select cities around the world. It does so prudently, with a long-term view to generate optimal, risk-adjusted returns. Founded in Quebec in 1953, Ivanhoé Cambridge has built a vertically integrated business across Canada. Internationally, the Company invests alongside key partners and major real estate funds that are leaders in their respective markets. Through subsidiaries and partnerships, Ivanhoé Cambridge holds interests in nearly 800 buildings, primarily in the residential, office, retail and logistics real estate sectors. Ivanhoé Cambridge held approximately C$56 billion in assets as at December 31, 2016. The Company is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers. For more information: ivanhoecambridge.com.

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