Groupe Laroche throws hat in for Wellington South development

Following the withdrawal of the consortium proposal for the of the Well Inc. project, the Groupe Laroche Group is expressing interest in the downtown redevelopment project.

Its interest, however, is not unconditional.

"We want City Council to confirm their vision of development for the sector and to specify the conditions and benefits it intends to deploy to encourage private investment, including possible incentive programs,” said Groupe Laroche Vice President Eric Laroche in a company press release. “From this clear framework, we will soon be able to respond to a call for proposals for a real estate project for the municipal parking lot on Wellington St. South. Our expertise in the design and construction of major real estate projects, as well as our network of partners, will allow us to propose a structuring project that meets the objectives of the revitalization and economic development of the sector. It would be a shame if the properties on Wellington South, acquired by the City of Sherbrooke, are not revalued quickly.”

"We must capitalize on the momentum that has been created in recent months for the redeployment of this sector,” he continued. “In any case, municipal parking must be rebuilt in the very short term. We should also rebuild it by pairing it with a structuring commercial project. It is therefore essential to continue the work begun by the City of Sherbrooke and the various partners in the area to make this historic sector a dynamic and lively neighborhood with shops, offices, and residences adapted to all needs. We are convinced that the revitalization of downtown is at hand with the mobilization of all stakeholders."

The Groupe Laroche hopes to discuss its ideas with the City of Sherbrooke quickly to figure out what should happen next in this dossier.