By Rhonda Massad
Cosoltec and the Fonds immobilier de solidarité (FTQ) officially joined forces on Oct. 23, to kick off Industria 440, a new LEED industrial and commercial condominium project at the intersection of highways 440 and 13. The economic impact is expected to yield an estimated $200 million.
The industrial park will be built on 1.5 million square feet and will include a dozen buildings that will offer more than 150,000 square feet of real estate space. The construction of the new buildings will be spread over four phases, with occupancy slated to begin summer 2015.
“According to figures from the Ministry of Transport of Quebec (MTQ) the intersection of Highways 15 and 440 is the second busiest in Quebec after the Turcot interchange, with 245,000 cars passing by daily,” Laval Mayor Marc Demers expressed in a press release. “Highway 440 turns out to be a prime site for development in general.”
According to Demers the Laval economy has been booming for the past 15 years during which time there have been 11 years where investments topped the billion dollar mark. Industria 440 is consistent with the city’s desire to attract new business and allow existing ones the chance to grow, increasing jobs.
Cosoltec president Michel Grennan forecasted that with a land purchase this June by Lumen, a major electrical materials distributor, the project was starting to take shape. The idea is to create industrial clusters that will allow companies from a given industry to be near each other in order to capitalize on business opportunities.
The park’s location is considered an asset with its proximity to both the North and South shores as well as the Montréal-Trudeau Airport.
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