The SHDM agrees to the transfer of the development for phase IV of the Faubourg Contrecoeur project

Montréal, Thursday, March 7, 2013 –The Société d’habitation et de développement de Montréal (SHDM) has authorized the transfer of the development for Phase IV of Faubourg Contrecœur from Construction F. Catania & Associés to Développement Faubourg Contrecœur. This company dedicated to the project was created by shareholders of Constructions Devlor Inc., which will act as general contractor.

To get the green light from the SHDM, the two developers had to offer guarantees on the completion of the project in compliance with all the conditions of the original agreement in order to protect the rights of current and future buyers. The 128 residential units that are planned will therefore be built according to the quality criteria that were established and in line with the prices that had been set. In addition, the transfer conditions were confirmed, including evidence of commitments vis-à-vis suppliers and financial institutions involved in the project. A delivery time of a few months was granted to allow for a smooth transition.

The SHDM took all necessary precautions by carrying out the usual checks surrounding the new developer, including verification by the comptroller’s office of the Ville de Montréal.

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Source : Société d’habitation et de développement de Montréal
Information : Leslie Molko, 514 286-6033 poste 244