Montreal, June 17, 2021 – Real estate developer MTL Développement held its official groundbreaking ceremony today, announcing the beginning of the construction of its brand-new project, La Tour Fides, located on the site of the current Fides Building, at 235 Boul. René-Lévesque East. MTL Développement acquired the emblematic building in 2017.
This project represents an investment of over $ 100 million and will consist of three separate buildings: the 19-storey main tower which will integrate the original Fides building, a seven-storey building overlooking Hôtel-de-Ville Avenue and a three-storey building overlooking Sainte-Elisabeth Street, for around 290 housing units. MTL Développement expects to complete the entire project in 2023. To date, 35% of the units have already been sold.
When History Meets Technology
“This project will be anything but common. Technology will be an integral part of all our homes and especially of our smart studios which will be our project’s headliner”, said Labid Aljundi, CEO of MTL Développement. The developer will be the first in Montreal to offer Smart Studios, a new concept in the real estate industry. These turnkey-style homes combine the latest innovations in technology and space optimization.
Thanks to the integration of home automation, residents will be able to control all aspects of their home using their voice or their smartphone – curtains, temperature, music, lighting, television, alarm systems and more. Home automation will sync with popular voice assistants Alexa, Google and Siri. From a design point of view, every inch of the home is maximized and utilized to its fullest. Whether it’s the desk that converts into a dining table for 6 or the wall-mounted bed that blends into the décor of the home, owners will be able to customize the space as they wish. “The combination of technology and space optimization maximizes the potential of this type of home. With this concept, we want to change the image people have of studios” says Mr. Aljundi.
Reviving Architectural Modernism
Inspired by the modernist architectural movement, the building originally built for the Fides publishing house in 1964 has become over the years a heritage emblem in the Quartier des Spectacles. “Our goal with the development of La Tour Fides is to highlight the added value of the contemporary heritage of the building. The project is a specific response to a specific context, “says Olivier Legault, Senior Partner at the architectural firm BLTA.
The project will be inspired by a contextual architectural approach, promoting the integration of the current building into its larger context. It involves merging part of the old structure with the new one. “The contextual architectural approach makes the project unique in its kind and adapted to its surrounding environment. The importance given to the heritage conservation in project development is now widely recognized. MTL Développement was very sensitive in this regard and enthusiastically adopted this vision that we laid out,” adds Mr. Legault. In this process, MTL Développement will retain 60% of the original structure of the building. Mr. Legault concludes: “This project will be in the image of Montreal where history, modernity and technology meet!’’
About MTL Développement
MTL Développement is a Montreal-based real estate developer specializing in the creation of unique residential projects. The company also manages real estate assets across Quebec. Since its inception in 2014, the company has been involved in the construction and acquisition of a wide range of projects in high-demand areas, especially in downtown Montreal.