{"id":5,"date":"2015-06-01T17:02:00","date_gmt":"2015-06-01T17:02:00","guid":{"rendered":"http:\/\/rf.podcastfixit.com\/index.php\/2015\/06\/01\/montreal-sees-residential-renta\/"},"modified":"2015-06-04T21:31:43","modified_gmt":"2015-06-04T21:31:43","slug":"montreal-sees-residential-renta","status":"publish","type":"post","link":"https:\/\/newscoverage.org\/index.php\/2015\/06\/01\/montreal-sees-residential-renta\/","title":{"rendered":"Montreal sees residential rental renaissance"},"content":{"rendered":"<p><b>By Robert Frank<\/b><br \/>\n<a href=\"http:\/\/www.sqft.ca\/\">www.sqft.ca<\/a><br \/>\n<br style=\"font-family: Arial, Helvetica, sans-serif;\" \/><br \/>\nYears of emphasis on condominium construction downtown have created a void in residential rental development, according to Normand B\u00e9langer, who has found filling that gap has proved lucrative.<br \/>\n<br style=\"font-family: Arial, Helvetica, sans-serif;\" \/><br \/>\n\u201cPeople want condo-like amenities, but are unwilling to plunk down $300,000 to get it,\u201d observed the <i>Fonds de solidarit\u00e9 FTQ<\/i> ceo. \u201cThat\u2019s very interesting for developers and builders. Indeed, during the past 24 months, residential rental has dominated the most profitable transactions.\u201d<br \/>\n<br style=\"font-family: Arial, Helvetica, sans-serif;\" \/><br \/>\nB\u00e9langer has fashioned a winning formula with a seven-year investment horizon.<br \/>\n<br style=\"font-family: Arial, Helvetica, sans-serif;\" \/><br \/>\n\u201cWe develop for up to two years then spend up to five years filling the project,\u201d he explained. \u201cOnce stable, it\u2019s very attractive to investors who are highly liquid but unwilling to undertake the sort of risk associated with development. They will easily acquire 1,500 units at a go\u2014and are willing to pay a premium to do so.\u201d<br \/>\n<br style=\"font-family: Arial, Helvetica, sans-serif;\" \/><br \/>\nOff-island also offers ample opportunity, he said. Logistics hubs in Contrec\u0153ur and Valleyfield are spurring large-scale industrial development there.<br \/>\n<br style=\"font-family: Arial, Helvetica, sans-serif;\" \/><br \/>\nTo the north is Quebec\u2019s third-largest city, Laval, whose population and economy are growing faster than the province. It will overtake Quebec City for the number two spot within a decade or so.<br \/>\n<br style=\"font-family: Arial, Helvetica, sans-serif;\" \/><br \/>\nB\u00e9langer is about to start work there, together with Montoni, on a large, multi-purpose development near Laval\u2019s big Place Bell project. It faces the Montmorency subway station and will house offices and condos and possibly a modern hotel.<br \/>\n<br style=\"font-family: Arial, Helvetica, sans-serif;\" \/><br \/>\nThe infusion of new space has softened the downtown office market, though.<br \/>\n<br style=\"font-family: Arial, Helvetica, sans-serif;\" \/><br \/>\n\u201cOwners will have to trim their rents to remain attractive,\u201d B\u00e9langer acknowledged. \u201cHowever Montreal remains well-positioned. We have a newly elected mayor who is doing very good work and have a stable provincial government for the next four years.\u201d<\/p>\n<div style=\"text-align: center;\"><i>Note: This report first appeared in the Spring 2015 edition of Canadian Real Estate magazine.<\/i><\/div>\n<div style=\"text-align: center;\">\n<div class=\"separator\" style=\"clear: both; text-align: center;\"><a style=\"margin-left: 1em; margin-right: 1em;\" href=\"http:\/\/1.bp.blogspot.com\/-iCSpVGZbjYU\/VWyPqmTK9YI\/AAAAAAAACqI\/fodFBVaVWFg\/s1600\/location-appartement.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/rf.podcastfixit.com\/wp-content\/uploads\/2015\/06\/location-appartement.jpg\" alt=\"\" width=\"320\" height=\"213\" border=\"0\" \/><\/a><\/div>\n<p>&nbsp;<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Robert Frank www.sqft.ca Years of emphasis on condominium construction downtown have created a void in residential rental development, according to Normand B\u00e9langer, who has found filling that gap has proved lucrative. \u201cPeople want condo-like amenities, but are unwilling to plunk down $300,000 to get it,\u201d observed the Fonds de solidarit\u00e9 FTQ ceo. \u201cThat\u2019s very<\/p>\n","protected":false},"author":1,"featured_media":2460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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