REAL ESTATE PROJECT
Launching Phase 2 of Aquablu
Standing 12 storeys above the Rivière des Prairies, watching workers hook up a propane barbecue gas line and a hot tub on the expansive cement terrace, you’d be forgiven for forgetting that a few short years ago there was nothing beneath you but fallow land and a frustratingly large swath of field that prevented area residents from accessing a pristine Ste-Dorothée shoreline.
When John Garabedian took a ride down the river with an investor friend in his boat about a decade ago, a vision struck him. The rest became history as Phase 1 of Aquablu rose quickly over the river and the Laval skyline, stunningly visible from the highway as you approach Île-Jésus.
As workers put the finishing touches on the top floors of this almost entirely sold-out building, the second phase of the iconic development has just been launched.
The $100-million Phase 2 building will contain 130 condominium units, almost double that of its counterpart a few metres to the west. It’s expected that the new 21-storey tower will perform every bit as well as the first, which saw one unit sell at $600 per square foot, raising the threshold of luxury real estate in Laval.
With delivery slated for the fall of 2019, Phase 2 construction is set to begin this year, but it’s no secret formula as to when to start digging, the developer said, noting the 40 per cent sales mark makes sense. “Phase 1 was completely self-financed, so there was no issue there,” Garabedian said, but he’s feeling pretty confident that Phase 2 will be snapped up just as eagerly.
The first 54-unit structure reflected the water in its triangularlike design and profile, but Phase 2 is not a mirror image. “We went with a flared design so each unit has better views — narrow in front and all facing south, with great views for all — but we still maintain that water profile of the buildings,” evidenced in curved balconies with southern exposure and 1,000 feet of shoreline below.
Ranging in size from 880- to 3,413 square feet, the condominiums
Every day i look up and am reminded of (my initial vision) ... I’m here, I’m committed to this beautiful project, and I’m not going anywhere. JOHN GARABEDIAN
are priced from $417,500 to $1.56 million. Penthouses measuring up to 5,000 square feet — and four waterfront townhouses at the base of the tower below the common green space — have not yet been released for sale.
Individual units themselves feature ceiling heights of 10 to 11 feet, and full-height skyline glass walls to exploit the open design. All units have large balconies with incredible water views. Premium details include home automation systems, frameless glass showers with tiled floor and freestanding bathtubs, open-concept gourmet kitchens boasting designer Poggenpohl cabinetry, central islands, and top-line built-in appliances. Pride of ownership begins as you approach the massive building via a gated entrance and three-level heated garage with available enclosed private parking spaces, and a two-storey lobby with 24-hour concierge service.
The unique shape of the tower over the river and close to Highway 13 also presents an interesting opportunity; the flared design not only boosts each homeowner’s vistas, but makes it easier for combining condos and serving specific demographics, said sales director Tony Bekeridis.
“We can put a one-bedroom near a three-bedroom,” he said, Garabedian adding, tongue-in-cheek: “When Junior leaves home and you want to keep him close by — just not so close,”
Bekiridis said buyers are already coming in from beyond the island, due to Aquablu’s profile and the surrounding hype — buttressed by a marketing and social-media blitz, as well as keen public support from the current city administration.
“They are coming from everywhere: Outremont, Westmount, Côte-St-Luc, T.M.R. and Laval.” And there is no typical buyer, Bekirdis said, other than a discerning clientele “who want the luxury and amenities, but without the hustle and bustle of downtown living.”
“We start, at minimum, with Phase 1 amenities,” Garabedian explained. “For pure luxury, there is no substitute.
“I will give you the best,” he said, as he scaled the staircase of the second floor of a Phase 1 penthouse, “but you will pay for it.”
And people did, shelling out up to $3 million for a luxury penthouse atop a building standing on land that will soon boast private boat slips but which, less than a generation ago, was known colloquially and affectionately as ‘snake city.’
Similar thresholds are expected in this next phase of the $250-million development which attracted investment from a partnership between Claridge Real Estate and Ivanhoe Cambridge, the realestate arm of the Caisse de dépôt.
“This is the first truly luxury real-estate project in the Montreal area in which we have invested,” said Wayne Heuff, Claridge vicepresident and managing director. “The success of Phase 1, as well as the uniqueness of this project in Laval, were key considerations in our decision to invest.”
Joining the two phases together will be a three-storey structure dubbed a Cube and housing a host of common areas, including an outdoor heated pool and spa with private cabanas, a glass-enclosed yoga and Pilates studio with panoramic water views, golf simulator, billiards table and a 20,000-squarefoot terrace which also overlooks a stretch of the St-Hilaire- Oka bike path. The scenic walking and biking trail will run along the river bank between the shoreline tree stand and this exclusive property on the southern edge of Garabedian’s million-square-foot sector redevelopment.
His own home a few hundred metres from the base of the new building, Garabedian is constantly mindful of what was once here and how his vision is taking shape.
“Every day I look up and am reminded of that. I’m also reminded how crazy I am,” he said with a laugh. “But I’m here, I’m committed to this beautiful project, and I’m not going anywhere.”
The success of Phase 1, as well as the uniqueness of this project in Laval, were key considerations in our decision to invest. WAYNE HEUFF, Claridge Real Estate