Real Estate consortium for Well Inc. gets go-ahead
Record staff
of 90 days, to allow the consortium to carry out the necessary analyses and the conceptualization of the estimated $50 million construction project. The agreement foresees the integration of some municipal work into the development of the project concept, which includes:
- A unique architectural concept favoring a number of uses (office, commercial, residential rental and public spaces).one or two 140,000-square-foot buildings, of which 70,000 square feet will be used for the consolidation of entrepreneurial development organizations. These spaces must be leased to an organization designated by the City to ensure the preservation of the one-stop shop for entrepreneurs.
- A new underground parking garage of at least 280 spaces to meet current municipal needs.
- A public square of approximately 15,000 square feet with a visual window onto the Dépôt station.
The agreement provides clear mechanisms for achieving the objectives of all the concerned organizations, whether it involves respect for municipal work to
be carried out and their costs.
"Since the beginnings of the Quartier Well Inc. vision, each of our organizations has identified opportunities on the economic and social plane and for job creation,” said Normand Bélanger, President and CEO Of the Fonds immobilier et de solidarité FTQ. “As business partners, we combined our organizational expertise and asked the city for a period of a few months to design a real estate concept for the downtown area and more broadly for Sherbrooke. We are confident that our mutual strengths, networks and expertise will enable us to meet the needs of the city and the business objectives of the members of our consortium."
Charles Custeau, President of Groupe Custeau immobilier, says: "The next few
months will serve to conceptualize the best possible project and that most promising for the development of the district. We want this project to act as an engine for the district and encourage other entrepreneurs or investors to develop projects in the heart of our city."
Finally, Sherweb CEO Peter Cassar said, "We have always shown interest in Quartier Well Inc. since the launch of the idea last October. We believe in the vision that entrepreneurial projects of all kinds can develop from Quartier Well Inc. It is in this context and because we strongly believe that this project creates wealth for all of us that we want to contribute to the dynamism of our city and make it a project worthy of Sherbrooke, by Sherbrookers, for Sherbrookers. "