Posted Oct 6, 2014, 5:41 PM
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Alex514
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Join Date: Apr 2014
Location: Montréal
Posts: 389
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Maison Manulife | Downtown Montréal | 28 floors
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Quote:
Manulife and Ivanhoé Cambridge enter in co-venture agreement for the 900 de Maisonneuve West office development project
Manulife investing in Ivanhoé Cambridge’s new landmark office tower in downtown Montreal. Manulife to become the first major tenant of Maison Manuvie with more than 260,000 ft2
October 6 2014
Montreal, Québec – Ivanhoé Cambridge and The Manufacturers Life Insurance Company (“Manulife”) announced today that they have entered into a co-venture agreement to develop, own and operate the 900 de Maisonneuve West office building development project in downtown Montreal. The transaction is conditional on the approval by Canadian regulatory authorities and by shareholders of Standard Life plc of the proposed acquisition by Manulife of Standard Life plc’s Canadian-based operations.
A major lease agreement
Both parties also agreed on a long-term agreement under which Manulife will lease more than 260,000 ft2 (24 000 m2) of leasable space, over 11 floors, representing more than half of the prestigious AAA skyscraper. Following the closing of Manulife’s proposed acquisition of Standard Life plc’s Canadian-based operations, over 2000 employees, currently located in different Manulife and Standard Life properties in downtown Montreal will be expected to move to the new Maison Manuvie at 900 de Maisonneuve Boulevard West.
"We are very proud to be partnering with Ivanhoé Cambridge, one of the most respected global real estate firms, on the development of 900 de Maisonneuve West, " said Kevin Adolphe, President & CEO of Manulife Real Estate. "The addition of this world-class office tower in Montreal reinforces our commitment to growth in Quebec and complements our existing portfolio nicely."
For his part, Daniel Fournier, Chairman and Chief Executive Officer, Ivanhoé Cambridge, said: “This agreement with Manulife allows us to accomplish one of the cornerstone objectives of our plan for downtown Montreal. We are especially proud to be strengthening our business relationship with an outstanding global company and an investor with which we can do more business around the world. We support their desire to take deeper roots in Montreal and in Quebec as a whole
Construction to begin at 900 de Maisonneuve West
Construction of the building should begin as early as the first quarter of 2015, upon satisfaction of the regulatory and shareholder approval conditions of Manulife’s proposed acquisition of Standard Life plc’s Canadian-based operations. The building will be named Maison Manuvie. The architects of the building are Menkès Shooner Dagenais Letourneux Architectes and the general contractor is Pomerleau. Ivanhoé Cambridge will be the development project manager on behalf of the partners and will act as property manager after delivery of the project.
Maison Manuvie at 900 de Maisonneuve West
Located in the heart of Montreal’s business district and urban life at 900 de Maisonneuve Boulevard West, this AAA building admirably combines functionality and prestige. It offers timeless architecture and high efficiency with a focus on sustainable development, meeting the standards for LEED® CS (core and shell) Gold certification. Its outstanding design and layout flexibility lay the groundwork for enhanced productivity and efficiency.
Maison Manuvie will be 27-storeys high, with about 45,200 m2 (486,500 ft2) of space, which will include about 44,400 m2 (477,976 ft2) of office space and approximately 800 m2 (8,500 ft2) of retail space. Layered above-ground parking will provide 360 spots.
The building will have access to the Peel and McGill métro stations and to Montreal’s underground city. It will also be equipped with bicycle-storage capacity, providing secure access to a major cycling path.
Maison Manuvie is a perfect illustration of Ivanhoé Cambridge’s workspace strategy and its high-quality service, which go beyond the expectations of the most demanding clients.
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Last edited by Urbmtl; Oct 6, 2014 at 6:12 PM.
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