Real estate development and investment firm Brivia Group has revealed its initial concepts of a residential tower slated to become Montreal’s tallest.
Designed for 61 storeys and 220 metres above sea level, the major project will be situated at the area surrounding Phillips Square in the downtown core. The tower will be comprised of over 500 units.
Among its notable features is its nine-cornered architectural geometry, which will allow the tower to offer a significant number of highly-desired corner units.
The announcement earlier this week marked the project’s first phase, which comes with an investment of about $400 million. Overall, the project is estimated to cost upwards of $1 billion.
“Downtown Montreal is being transformed, with a focus on residential real estate development, and Brivia Group is pleased to be a part of this process. More than ever, Montrealers are keen to live in this district,” Brivia founder, president, and CEO Kheng Ly said.
“We are targeting local, business and foreign buyers. We believe we can offer them a product that meets their expectations and specific needs. It’s a unique project, and we’ll go all out to ensure it is our best achievement so far.”
The massive project is expected to be the shot in the arm that the downtown Montreal housing market needs, especially since Airbnb-style rentals will not be permitted in the tower.
Ephraim is currently a journalist at Mortgage Broker News, Real Estate Professional and Canadian Real Estate Wealth.
Ephraim is a highly accomplished news reporter whose work has been published across North America and the Asia Pacific region. Before joining Key Media, Ephraim spent eight years working as a journalist with Reuters TV. His areas of expertise include real estate, mortgage, and finance.
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