BMTC Group is teaming up with Urbania to build five new apartment buildings in the Montreal area.
Montreal-based BMTC said in its latest quarterly report that the buildings will be constructed at 500 Boulevard Le Corbusier in Laval, Que. BMTC formed a new real estate subsidiary, Le Corbusier Concorde, for the project. Urbania is a Laval-based developer.
Construction will begin in the summer of 2024 and span eight to 10 years. Altogether, the five rental towers will contain approximately 1,200 doors.
The effort comes as BMTC is rebranding its home-appliance and furniture stores as Tanguay after also using the Brault & Martineau, EconoMax and Liquida Meubles banners. As a result, 11 new Tanguay outlets have been created in western Quebec, and the company is investing $28 million in store renovations.
BMTC said it also intends to develop several rental multi-residential towers in Sainte-Therese, Que., which is also near Montreal. The buildings are slated to be constructed on BMTC’s property at 125 Boulevard Desjardins East.
“This real estate project is currently in the exploratory phase,” said BMTC in a news release accompanying its quarterly report.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.