News

Montréal, Thursday, August 15th, 2013 – The Ville de Montréal Executive Committee has authorized that the recommendation of the Board of Directors of the Société d’habitation et de développement de Montréal (SHDM) to proceed with the sale of the building that formerly housed the Musée Juste pour rire to the circus company Les 7 doigts de la main be submitted for approval by the City Council.

The Ville de Montréal and the SHDM have agreed to share the investment necessary for this building to conserve its cultural vocation and contribute to enriching the animation of the Quartier des spectacles. The terms of this transaction, which will be concluded in the coming months, confirms the important level of support for this non-profit organization, by both the City and the SHDM, in its efforts to acquire a permanent center for artistic creation and production in Montréal.

The building, with an estimated value of slightly more than $3 million, is to be sold at a price of $2.5 million, payable to the SHDM in 20 annual interest-free payments of $125,000. By offering such an advantageous price as well as interest-free financing, the SHDM will also contribute $1.3 million towards the project’s implementation. SHDM experts have also been involved in developing this project since the building was bought back, after the Musée Juste pour rire ceased its activities.

For its part, the Ville de Montréal will invest in the transaction with a contribution of $824,000 aimed at covering the operating and maintenance expenses of the building since September 2011.

Mrs. Élaine Ayotte, responsible for culture, architectural heritage and design at the Ville de Montréal Executive Committee, stated that “This is a critical step forward to relocate the 7 doigts de la main circus troupe in the Quartier des spectacles district. It demonstrates our commitment to promoting the circus arts. This inspiring, audacious and highly creative organization contributes to Montréal’s prestige. Its presence in a strategic area of the downtown core will enrich Montréal’s cultural hub.”

Ms. Johanne Goulet, Director general of the SHDM, adds “We are delighted to be able to contribute to the growth of our artistic community and to play our true role as a strategic agent of economic, social and cultural vitality, through our real estate expertise. The commitment of the SHDM in this project makes it possible to give new life to the city’s cultural creation and performance spaces. It is also a wonderful demonstration of our ability to facilitate the implementation of municipal policies and objectives in the field of culture.”

For M. Nassib El-Husseini, general Director of 7 doigts de la main, the acquisition of this building is a turning point for the company, which after 11 years of activity will finally be able to consolidate all its assets under one roof in Montréal. “For the first time, the company will have a permanent home, which means an end to the scattering of its various departments in the four corners of the city. It is the culmination of our dream to dispose of our own center for creation, performance and administration, and to be able to meet the growing needs of a company which has been performing around the world for more than a decade.”

The repurposing of the former Juste pour rire museum
In September 2011, a few months after the Musée Juste pour rire ceased its operations, the SHDM purchased the building that had housed the museum. The SHDM had the intention of maintaining the cultural vocation of the building, located at 2109-2111 Saint Lawrence Boulevard, in order to ensure the ongoing vitality of the Quartier des spectacles. Today, the company Les 7 doigts de la main is finalizing the financing to retrofit the building and materialize its project, thanks in large measure to $9 million in financing from the ministère de la Culture et des Communications du Québec, confirmed in 2012. According to the project’s time table, the troupe should be able to take ownership in a few months, and subsequently undertake the renovation work required to occupy and exploit the building.

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Source:Société d’habitation et de développement de Montréal (SHDM)
Information:For the SHDM: Leslie Molko, 514 347-8584, www.shdm.org
For the Ville de Montréal: Isabelle Poulin, 514 868-3888, www.ville.montreal.qc.ca
For Les 7 doigts de la main: Fanny Perret, 514 521 4477 ext. 205, www.7doigts.com

To continue our efforts with respect to sustainable development and saving paper, the 2012 Annual Report of the SHDM is presented exclusively in an electronic format and is made available to the public at www.shdm.org/en/about/official-publications/. It can be viewed online or downloaded at your convenience. For easier reading, the document has been configured for dynamic consultation, so it is easy to navigate from one section to another by clicking on the menus shown in the table of contents, in section headers or at the bottom of the pages.

The publication of our financial statements gives us the opportunity to review the past year and assess whether objectives have been achieved. It also allows us to draw lessons for the future, which will be all the more valuable as the SHDM is preparing its 2014-2016 strategic plan.

The SHDM’s achievements in 2012 once again demonstrate its ability to fulfill its mission by centering its activities on four major objectives:

• Maintain a supply of affordable and quality rental housing, in a context where the SHDM must continue to directly subsidize its less affluent tenants despite the fact that many buildings are no longer eligible for the financial contribution of the Canadian Mortgage and Housing Corporation (CMHC), and despite the fact that significant investments are needed to maintain and upgrade its rental housing stock.
• Facilitate home ownership and contribute to the revitalization of neighbourhoods in Montréal, by developing innovative solutions to encourage families to stay in Montréal at a time when the real estate market is rapidly changing.
• Promote the economic and cultural development of Montréal by contributing to structuring urban development projects that enhance the quality, diversity and dynamism of living environments.
• Update the governance and management of the organization, focusing on process transparency and accountability of decisions, as well as an integrated approach to risk management.

From a strictly financial perspective, the analysis of the 2012 results confirms that the SHDM continues to demonstrate responsible and prudent management that allows it to address future challenges with confidence, despite an uncertain economic reality.

You can access the document (in French only) by clicking HERE.

Please read on!

La Fabrique 125, a residential project accredited by the Société d’habitation et de développement de Montréal (SHDM) and located in the heart of the fashion and design district, at the corner of Chabanel Street and avenue de Esplanade, ranked among the three finalists in the Innovation category for the 2103 Real Estate Awards of Excellence granted by the Urban Development Institute of Québec (UDI).

La Fabrique 125 is definitely a unique and bold project, a catalyst for the revitalization of this neighborhood and a testimony to the past of the clothing manufacturing industry. By focusing on the recycling and the enhancement of the architecture of this large-area building to create New York style residential lofts, the SHDM made ??the daring wager of incorporating its goals of affordability, homeownership and urban revitalization into an innovative project where art, design and creativity are showcased.

Johanne Goulet, Executive Director of the SHDM, paid tribute to the excellent work of La Fabrique 125 promoter, 125 Chabanel Holdings inc. (Groupe Dayan), and its team of professionals consisting of design, architectural and engineering firms, including Humà Design + Architecture, Formee Studio, WorkShop Architecture, Dupras Ledoux Ing., DL Turner consultants Inc. and builder Gerpro Construction.

« By implementing innovative development projects, such as La Fabrique 125, the SHDM plays its true role as a catalyst vehicle for urban revitalization and improvement of living environments, » she said.

It is worth noting that this is not the first time that the SHDM has been honored by the UDI. In 2009, the SHDM received the Real Estate Award of Excellence –Residential category component for Accès Condos, its unique formula of access to home ownership.

To visit the project look for La Fabrique 125, on the Accès Condos website or contact the sales office located at 9315 avenue de l’Esplanade (514 388-9090).

On March 13, the borough council of Villeray–Saint-Michel–Parc-Extension approved the lease between the Ville de Montréal and the Société d’habitation et de développement de Montréal (SHDM) for the ground floor of Centre Jean-Marie Gauvreau, located at 911, rue Jean-Talon Est. This is great news because this agreement will allow for the planned establishment of a long-awaited new maison de la culture.

The centre is managed by the SHDM and currently houses 85 tenants working mainly in the field of the arts. These artists can therefore enjoy a cultural venue at the very heart of their creative spaces. Moreover, « the SHDM is very proud to contribute to the cultural development of Montréal by signing an agreement that is beneficial for the borough, and by leveraging its expertise in property management, including the coordination of all the steps needed to transform this place into a maison de la culture, » says Johanne Goulet, Executive Director of the SHDM.

The refurbishment work should start in late fall 2013 and the borough plans to inaugurate its cultural centre in the fall of 2014.

For more information, please see the press release (in French only) published by the Villeray— Saint-Michel—Parc-Extension borough.

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

At the invitation of the Minister responsible for the Montréal region, Jean-François Lisée, the SHDM joined the Montréal = Families Steering Committee, to identify the most effective strategies and incentives to encourage families with young children to settle or remain on the island of Montréal.

The working group is composed of experts from associations, academia, financial circles and community groups, as well as of representatives from the Ville de Montréal and the Québec government. This group will examine the incentives that are already in place and have had proven results in Montréal or other cities.

In addition to initiatives that directly affect housing, such as home ownership programs, the working group will focus on other dimensions of a living environment that are factors in attracting families, such as transportation, recreation, education, etc.