{"id":7,"date":"2015-05-29T12:57:00","date_gmt":"2015-05-29T12:57:00","guid":{"rendered":"http:\/\/rf.podcastfixit.com\/index.php\/2015\/05\/29\/montreals-success-hinges-on-its-economy\/"},"modified":"2015-06-04T21:34:24","modified_gmt":"2015-06-04T21:34:24","slug":"montreals-success-hinges-on-its-economy","status":"publish","type":"post","link":"https:\/\/newscoverage.org\/index.php\/2015\/05\/29\/montreals-success-hinges-on-its-economy\/","title":{"rendered":"Montreal\u2019s success hinges on its economy"},"content":{"rendered":"<p><b>By Robert Frank<\/b><br \/>\n<a href=\"http:\/\/www.sqft.ca\/\">www.sqft.ca<\/a><\/p>\n<p>\u201cWe\u2019re a lot more focused today on making Montreal more attractive,\u201d observed Cominar chief operating officer Sylvain Cossette. \u201cThe foundation of Montreal\u2019s real estate market is a prosperous economy. The stronger it is, the stronger the real estate market here will be.\u201d<\/p>\n<p>The challenge, said Cossette, is that Montreal must aggressively vie with cities around the world for investment.<\/p>\n<p>\u201cEveryone wants to attract the best and the brightest,\u201d he said, \u201cso it\u2019s a very competitive landscape. You have to approach it just as if you were trying to develop a clientele.\u201d<\/p>\n<p>Cossette welcomed efforts by Montreal\u2019s new mayor Denis Coderre to prime the pump by meeting investors abroad and by aggressively promoting commerce in concert with Montreal International ceo Dominique Anglade.<\/p>\n<p>\u201cMontreal went through several years of soul-searching,\u201d Cossette acknowledged. \u201cNow, there\u2019s a new sheriff in town.\u201d<\/p>\n<p><b>Fortune favours the prepared<\/b><\/p>\n<p>The timing couldn\u2019t be more opportune. The vigorous rebound in the United States\u2019 economy, coupled with the softening Canadian dollar has swiftly made Montreal a more competitive place to do business than it has been for years.<\/p>\n<p>The upsurge has already boosted demand in the industrial sector, which is unlikely to abate. It could also help to fill new office space added last year through the conversion of industrial to lofts. On the residential side, the shift to smaller-footprint condos means that urban-core retail needs a long-term rethink to boost sales per square foot.<\/p>\n<p>\u201cWe\u2019re looking ahead to 2025 and even 2035,\u201d Cossette said. \u201cDespite the shift to electronic commerce, downtown dwellers increasingly will need places where they can interact.\u201d<\/p>\n<p>\u201cDemographics will play a growing role,\u201d he added. \u201cMaking Montreal a friendlier place to live and encouraging immigration is a critical success factor.\u201d<\/p>\n<p>The city already has a deep pool of underused intellectual capital at the ready, he noted, and continues to churn out talented graduates apace.<\/p>\n<p>\u201cWe have to capitalize upon our tremendous educational wealth,\u201d Cossette urged. \u201cIt\u2019s a magnet: McGill is as revered as an Ivy League university as Harvard, Yale and Princeton, and University of Montreal has an outstanding reputation. Likewise, the cultural dynamics here are extraordinary.\u201d<\/p>\n<p>Cossette even sees the city\u2019s aging infrastructure as an asset.<\/p>\n<p>\u201cIt\u2019s our future. It\u2019s our potential,\u201d he explained. \u201cWherever there are challenges, lurks opportunity. That\u2019s where we will build new foundations and develop new expertise in engineering and financial services. The opportunities are there. We simply have to start seeing them as such.\u201d<\/p>\n<p>&nbsp;<\/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 class=\"separator\" style=\"clear: both; text-align: center;\"><a style=\"margin-left: 1em; margin-right: 1em;\" href=\"http:\/\/rf.podcastfixit.com\/wp-content\/uploads\/2015\/05\/Sylvain-Cossette.jpg\"><img decoding=\"async\" src=\"http:\/\/rf.podcastfixit.com\/wp-content\/uploads\/2015\/05\/Sylvain-Cossette.jpg\" alt=\"\" border=\"0\" \/><\/a><\/div>\n<div style=\"text-align: center;\"><b>Sylvain Cossette<\/b><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Robert Frank www.sqft.ca \u201cWe\u2019re a lot more focused today on making Montreal more attractive,\u201d observed Cominar chief operating officer Sylvain Cossette. \u201cThe foundation of Montreal\u2019s real estate market is a prosperous economy. The stronger it is, the stronger the real estate market here will be.\u201d The challenge, said Cossette, is that Montreal must aggressively<\/p>\n","protected":false},"author":1,"featured_media":2464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7","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 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Montreal\u2019s success hinges on its economy - Newscoverage<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newscoverage.org\/index.php\/2015\/05\/29\/montreals-success-hinges-on-its-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Montreal\u2019s success hinges on its economy - Newscoverage\" \/>\n<meta property=\"og:description\" content=\"By Robert Frank www.sqft.ca \u201cWe\u2019re a lot more focused today on making Montreal more attractive,\u201d observed Cominar chief operating officer Sylvain Cossette. \u201cThe foundation of Montreal\u2019s real estate market is a prosperous economy. 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