A newly built Montreal-area project has become Canada’s first LEED Silver and Zero-Carbon Building-certified apartment tower, says Avison Young.

The Le Symbio project was developed by FTG Development, Claridge, and Services Immobiliers First. Avison Young represents the partners as the property’s exclusive leasing agent.

The development is located in Terrebonne, Que., on Greater Montreal’s North Shore. The property is 85% leased with full occupancy expected this summer.

The partners sought the LEED Silver and ZCB certifications as a means of future-proofing their building against climate change, said Mark Sinnett, Mark Sinnett, an Avison Young executive vice-president who heads the firm’s Quebec capital markets team, in an interview with Connect.

“They thought that was something that, over time, will lead to, one, lower operating cost, two, higher revenue, and three, just overall, better performance,” he said.

Whereas most of the buildings built back in the 1970s had no air-conditioning, the partners considered that a future apartment with no cooling system may uninhabitable during the summer, he added.

“Beyond the certification, what makes it unique is, it’s 28 storeys,” said Sinnett.

“I would say there are probably less than a handful, maybe two others, that have been built at that height. A lot of the new-build construction in the entire province of Quebec is typically anywhere between 16 to 21 [or] 22 storeys. So the fact that they built the 28 storeys, which also helped them get the certification, makes it extremely unique and, really, a trophy type of asset.”

The building has 219 units, including 99 one-bedrooms, 82 two-bedrooms, 24 studios, and 14 three-bedrooms, with an average size of 800 square feet. The project is valued at between $95 to $100 million, said Sinnett.

The developers intend to sell the asset, he added. In addition to serving as the leasing agent for the building, Avison Young will list it for sale.

Sinnett said the building has favourable Canada Mortgage and Housing Corporation-insured financing due to its energy efficiency. Very few buildings meet the criteria, he added.

The building, situated in Terrebonne’s Le Chenaie district, does not have any mixed-use components but it is near several retail outlets, including Costco, Home Depot and IGA stores, along with a new University of Quebec at Trois-Rivières satellite campus that will be adjacent to the apartment tower.

So, the building’s location adds to the property’s uniqueness, said Sinnett. Le Symbio is situated right in front of a small riverbend and along a linear bicycle path. The site is less than kilometre from the Island of Montreal and has public-transit, commuter-train and major highway access.

FTG originally acquired the previously undeveloped land on which Le Symbio sits. The company built a seniors residence and then, having excess land, decided to construct a multi-family project a greenfield project.

After the city approved the project a number of years ago, FTG brought in its partners. The trio obtained approvals for the 28 floors before the city restricted building heights in the area to 19 storeys.

The North Shore is probably the fastest-growing area in the Greater Montreal region, said Sinnett. The activity was driven by the construction of a nearby super-regional hospital in the late 1990s.\

Pictured: The Le Symbio apartment tower in Terrebonne, Que.

Photo: Courtesy of Avison Young

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