Rental apart­ments atop a ho­tel


In the heart of down­town Montreal, new lux­ury rental build­ings are few and far be­tween. But a new project by Groupe Can­var go­ing up above the Hol­i­day Inn ho­tel at the cor­ner of René-Lévesque Blvd. W. and Lu­cien l’Al­lier St. is set to of­fer ren­ters a slew of new op­tions in the city’s core.

Liv will be a sin­gle-phase de­vel­op­ment com­posed of 239 res­i­den­tial units upon its com­ple­tion, which is cur­rently sched­uled for fall. The build­ing will have stu­dios, one- and two-bed­room units rang­ing from 372 to 1,387 square feet, and will fea­ture many of the high­end fin­ish­ings com­monly found in lux­ury condo units for sale. Rental rates will range from $1,025 to $4,635.

“The city has been wait­ing for rental units like th­ese,” said Tris­tan Pun­gart­nik, di­rec­tor of op­er­a­tions at Sum­mit Prop­erty Man­age­ment. “Th­ese units will al­ways be rental units that can be oc­cu­pied longterm and are lo­cated in the mid­dle of down­town Montreal.”

Be­cause re­sid­ing in a rental unit means ten­ants can forgo the typ­i­cal costs of prop­erty own­er­ship, the project will of­fer a more af­ford­able op­tion for peo­ple seek­ing a unit in a lux­ury de­vel­op­ment.

“It’s ap­peal­ing in the sense that it cre­ates a new op­por­tu­nity for peo­ple who may not be able to af­ford to pur­chase a lux­ury con­do­minium, yet don’t want to set­tle for a lesser rental op­tion,” said Ryan Haas, pres­i­dent of Cor­po­rate As­sets Inc., who is con­sid­er­ing rent­ing a unit in the Liv project. “My firm of­ten trav­els to Montreal for busi­ness, and I’m look­ing for a place to keep as a more cost­ef­fec­tive op­tion than stay­ing in a ho­tel, while not hav­ing to sac­ri­fice on the ameni­ties or many of the fin­ishes pro­vided. I think Liv will meet my needs as a ten­ant, and I’m very ex­cited to see the com­pleted project.”

The apart­ments will have 1¼-inch-thick gran­ite coun­ter­tops, and two-tone kitchens with stain­less-steel ap­pli­ances. The bath­rooms will fea­ture tiled flooring, and the rest of the units will have lam­i­nate flooring and nine­foot ceil­ings, with even higher ceil­ings in the pent­house apart­ments.

In ad­di­tion to th­ese in­clu­sions, monthly rental fees will be all-en­com­pass­ing, which means heat­ing, hot water, and elec­tric­ity are rolled into the cost. All apart­ments will also come with cen­tral air con­di­tion­ing, washer and dryer, kitchen ap­pli­ances, and blinds.

“Our ten­ants re­ally like that the units in­clude ev­ery­thing they do,” Pun­gart­nik said. “They don’t need to worry about hy­dro bills, and the fact that it’s brand-new and the units have never been lived in is also very at­trac­tive to ten­ants.”

This type of setup is ideal for pro­fes­sion­als and trav­el­ling ex­ec­u­tives, he added. “Many ten­ants who are on two- or three-year work con­tracts and are un­sure if they will be stay­ing longer, so they choose to rent.”

The Liv build­ing will also fea­ture many of the cov­eted ameni­ties found in high-end condo projects. Ten­ants will have ac­cess to an in­door pool, hot tub, gym and sauna shared with ho­tel guests. But an out­door hy­dro spa on the 17th floor is ex­clu­sive to Liv res­i­dents.

The build­ing will also have a front desk manned 24 hours a day, full-time clean­ers, on-site main­te­nance staff, and a live-in su­per­in­ten­dent.

“The ameni­ties are above and be­yond (those of ) a stan­dard rental build­ing,” Pun­gart­nik said. “The 24-hour front desk gives peace of mind and full-time clean­ers en­sures that the build­ing is al­ways prop­erly main­tained.”

In ad­di­tion to all of th­ese fea­tures, Liv’s lo­ca­tion sets it apart on the Montreal rental mar­ket. Its prox­im­ity to shops and malls, res­tau­rants, cafés and nightlife venues, as well as pub­lic tran­sit and ma­jor high­ways, make it a prime lo­ca­tion for a rental build­ing.

“A new Provigo just opened around the cor­ner, and Lu­cien l’Al­lier métro sta­tion is next door,” Pun­gart­nik said. “The area has ev­ery­thing ten­ants might need, and is at the true cen­tre of the city.”

The ameni­ties are above and be­yond (those of) a stan­dard rental build­ing. The 24-hour front desk gives peace of mind ...


Liv apart­ments, sched­uled for com­ple­tion in the fall, tower above the 15 floors of the new Hol­i­day Inn ho­tel at 1390 René-Lévesque Blvd. W. The rental apart­ments oc­cupy the 17th to 37th floors, with pent­houses on the top two floors. An in­door pool,...

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