Property Brochure

1000 St-Martin Blvd. W, Laval, Québec
Land For Sale
Commercial / Residential Mixed-Use Development Opportunity
High density development
Table of contents
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The Offering
Zoning particulars
Laval Market Overview
New and current development in Laval
Laval Condo / Apartment Competitive Set
Offering Guidelines
The Offering
Jones Lang LaSalle RM and Jones Lang LaSalle Real Estate Services, Inc., on behalf of Société En Commandite Tzanet
Odyssey is pleased to offer for sale an important residential / mixed-use development opportunity located in Laval, Québec
(the “Property”).
This exceptional site represents a rare and unique opportunity to acquire a large and strategic development site fronting on
St-Martin Blvd. in Laval, Québec.
Property Specifications and Highlights
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± 442,954 s.f. redevelopment opportunity located in the
heart of Laval’s fastest growing retail node, featuring
over 5.5 million square feet of retail space, which
includes over 500 shops, restaurants, and other
retailers that attract over 20 million consumers per year.
Advantageous zoning that allows for mixed-use,
commercial and residential construction of up to
845,000 square feet.
Transit score: 76 (Excellent Transit - Transit is
convenient for most trips) – Only a few minutes away
from the de la Concorde metro station and suburban
train station and frequent service by buses 37, 39, 45,
50, 56, and 60.
Great accessibility: Highways 15 and 440 connect the
area seamlessly to the Montréal market as well as to
the broader North Shore region.
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Walking score: 70 (Very Walkable - Most errands
can be accomplished on foot) – Neighboring
services include schools, grocery stores, coffee
shops and restaurants, parks, hotels, Laval’s Palace
Congress Center, the concert hall and tourist
attractions.
Other retail services include: Target, Cineplex
Odéon’s Colossus, Simons, The Bay, Sears, Rona,
Énergie Cardio, Sky Venture, Archambault, Future
Shop, etc.
A booming multi-residential and condo market,
responding to the 7.2% population growth expected
in the next 5 years.
Adjacent to provincial Bike Path Route Verte 1
which connects to over 5,000 km of dedicated bike
lanes.
Subject Property
Retail strips / Malls
Green spaces
Proximity to all services
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Zoning particulars
This offering is a former industrial site recently re-zoned to
commercial or mixed-use, located in what has since been
designated as Laval’s Downtown Core. Land in the Downtown
Zone benefits from high density zoning designated as CV. The
site is specifically zoned CV-102 which allows for the
construction of a high-density commercial/office complex, a
hotel or high-density mixed-use residential buildings.
In the CV zones, the City of Laval does not provide a
maximum height restriction nor does it provide site coverage
or floor to area ratios. Instead, the site’s development potential
is governed by the Land Use Intensity System or L.U.I. The
L.U.I. for the site is between 6.1 and 6.5 which takes into
account specifications for a floor to land ratio, and open space
ratio and a recreational space ratio.
The city has also designated a minimum height of three
storeys for a commercial project and five storeys for a
residential/mixed-use project.
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Furthermore, the residential component of any development
must allow for the construction of a minimum of 308
residential units and all projects are subject to the city’s
approval of a Site Development and Architectural Integration
Plan.
Depending on the criteria used for construction a
commercial project on the site can attain 535,000 square
feet of buildable area or 845,000 square feet of buildable
area for a mixed-use project.
Site plan
Site area of ± 442,954 s.f.
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Laval Market Overview
Overview
1000 Saint-Martin Boulevard is located on the corner of SaintMartin Boulevard West and Laval Boulevard in the heart of
Laval’s primary retail node. It therefore benefits from easy access
to a retail environment of unparalleled scale, a variety of
neighborhood-oriented services and amenities, as well as a vast
residential population.
Access and Services
The Property is located on the south-east corner of the SaintMartin and Laval Boulevards intersection. Saint-Martin Boulevard
West is one of Laval’s main commercial arteries and a principal
accessway. It runs east-west across the island of Laval, connects
easily to Highway 15, and with the highest concentration of retail
and office developments located between Chomedey and Laval
Boulevard. Highway 15 links the area to the Montréal market as
well as to the rapidly expanding North Shore sectors of
Boisbriand, Saint-Jérôme, and Mirabel. Only a few minutes north
is Highway 440. The 440/15 interchange is Laval’s busiest
intersection, with over 300,000 cars per day.
The property features a high walking and transit score, 70 (very
walkable) and 76 (excellent transit) respectively. Most errands
can be accomplished on foot or using public transit, as the area
abounds with schools, grocery stores, coffee shops, restaurants,
parks, as well as hotels, Laval’s Palace Congress Center, concert
halls and even a few tourist attractions. Only a few minutes south
of the site is Montmorency metro station and the de la Concorde
suburban train station which integrates seamlessly to Montréal’s
downtown area. Furthermore, buses 37, 38, 45, 50, 56, and 60
run frequently.
Laval has a fast growing retail sector which is predominantly
composed of large shopping and strip centers, much of it
concentrated in the property’s immediate surrounding area. The
sector is characterized by an unparalleled density of retail
development, home to Centre Laval, Centropolis and, just further
north, Carrefour Laval.
Together, they represent 5,5 million square feet of retail
space with over 500 shops, restaurants, and other retailers,
who attract to the area over 20 million consumers per year.
This retail node is anchored by such power-retailers as
Target, Cineplex Odeon’s Colossus, Simons, The Bay,
Sears, and Rona. It also features a wide variety trafficgenerating co-tenants, such as Énergie Cardio, Bureau en
Gros, Future Shop, Archambault, Réno-Dépôt, Best Buy,
and L’Équipeur, as well as the wide variety of restaurants
and cafés found within the Centropolis complex: L’Académie,
La Belle et La Boeuf, Les Trois Brasseurs, and Houstons.
The area is also home to many hotels (Comfort Inn, Hôtel
Saint-Martin) as well as Laval’s Palace Congress Center and
the Salle André-Mathieu, Laval’s main concert hall. Just
south of the property is also Université de Montréal’s Laval
campus, Montmorency CEGEP as well as the Letendre
College, an additional neighbourhood feature.
This diversified retail environment caters to both the
immediate residential population as well as to Montréal and
North Shore markets consumers who come to this area of
the unique density of shops, restaurants and entertainment
facilities all located within a square kilometer.
Laval Demographics
Laval is Montréal’s largest suburb and the third largest
municipality in the province, home to approximately 5% of
the province’s population. It is also Canada’s thirteenth
largest city with a population of 420,226 residents and has
undergone an impressive population growth in recent years,
having increased by 9.3% since 2008 and expected to
continue to raise by a further 7.2% in the next five years. This
is more than doubled the growth rate predicted for the island
of Montréal. With a total land area of 247.09 square
kilometres, Laval’s population density rests at 1,701
inhabitants per square kilometre.
Residential Barometer - Greater LAVAL - January 2014 - August 2014
LISTINGS
SALES
DELAY
SALE PRICE
NEW
ACTIVE
NUMBER
VOLUME ($)
NUMBER OF DAYS
AVERAGE
MEDIAN
Condo / Apartment
1689
1154
644
$ 144,236,676
116
$ 224,318
$ 214,000
Revenue Property (6+)
58
34
21
$ 21,414,367
60
$ 83,000 / door
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Rental Market - LAVAL - 2013
Great Laval Area
Downtown Laval
Bedroom Type
No. of units
Avg. price/unit
Vacancy rate (%)
No. of units
Avg. price/unit
Vacancy rate (%)
Bachelor
637
$510.00
4.30%
235
$ 525.00
2.40%
1 Bedroom
5115
$608.00
3.10%
2079
$ 640.00
3.20%
2 Bedroom
15535
$690.00
1.80%
5455
$ 734.00
1.70%
3+ Bedroom
3212
$837.00
2.30%
1029
$ 939.00
4.80%
Total
24499
$685.00
2.20%
8798
$ 729.00
2.40%
Laval Market Overview (Continued)
Laval Demographics
Laval is highly multicultural and is one of the main
destinations for immigrants to Canada. According to a study
released by the Federation of Canadian Municipalities (FCM),
the immigration population grew by 40% in Laval between
2001 and 2006, with the national average varying around
15%. French is spoken by almost 70% of the population,
followed by English (6.9%), Italian (4.4%), Greek (2.9%) and
Arabic (3.9%).
Laval’s economy revolves around the technology,
pharmaceutical, industrial and retail sectors, but also features
a persistent agricultural sector as well as some mining. Long
seen as a bedroom community, Laval has diversified its
economy, especially the retail sector, to meet the growing
demand for goods and services. Laval residents generally
have a higher standard of living than those of Montréal.
Household incomes average at $80,990 and unemployment is
at a low 4%. Major employers include Wajax Industrial
Components Ltd., the Association des Employés de Laval,
GSF Canada Inc., Instech Communications, and Sanofi
Canada.
Housing Trends
Laval, in step with its growing population, has launched a
number of important residential projects. The Baccarat
Madeco Construction, a four-phase condominium project, will
include 160 units ranging between 800 and 1,475 square feet.
The Marquise project has already completed the first of its
eight phases. Quartier 440 will complete its second and third
phases of construction in 2014. Other projects include Rouge,
Le Logix, and Les Berges de la Rivière.
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Single-family homes have sold for a median price of $289,000
over the last 12 months, with condominiums and plexes
transacting at $215,000 and $405,000 respectively.
The Laval rental market, remains stable with vacancy rates
resting at approximately 2.3%. As mentioned above,
immigration has played a major factor in the success of Laval’s
rental market with the number of immigrants almost tripling
over the past ten years. There was an estimated increase in
average rental rates by 1.2% in 2013. Bachelor apartments
were rented on average for $510 a month, one bedroom
apartments at $608, two bedrooms at $690, three bedrooms
and up for $837, bringing the total average rent to $685/month
among all apartment types. The occupancy for 2 bedroom
apartments was the highest with a vacancy rate of just 1.8%,
while bachelor apartments had the highest vacancy rate
(4.3%).
According to the Canada Mortgage and Housing Corporation
(CMHC), the greater Laval area has a total of 24,499 condos
and apartments. Two bedroom apartments represent 63% of
the market followed by one bedroom apartments which
represent 21% of the condo and apartment sector.
New and current development in Laval
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Borough
Project
Developer
Chomedey
Viva Condos
Groupe Alta-Socam
Laval des Rapides
District Concorde
Habitations Trigone
Chomedey
Quartier 440
Constructions Alexandre
Chomedey
Condos Lumiere
Jadco Group / Devision Group
Laval des Rapides
Ocartier Condominims
TDR Experts Conseil
Sainte - Rose
Rosa Nova
Investissements Mattawa
Laval des Rapides
Condos le Logix
Construction Voyer
Chomedey
Le Saint Elzear
Groupe Sopromont Immobilier
Saint Dorothée
Les Jardins Champagne
Construction Betaplex
Chomedey
Villa Latella
San Carlo Construction Inc.
Chomedey
Le Lobby
Madeco
Ste-Dorothé
Condos Aquablu
Group Garabedian
Chomedey
Quintessence
Jadco Group
Chomedey
Le Neuf
Madeco
Chomedey
Cité Cosmo
Groupe Cholette
Chomedey
Marquise Condos
Groupe Monsap
Laval Condo / Apartment Competitive Set
4
3
1
2
1
2
3
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Viva
4
Condos Lumière
Avenue du Cosmodome, Laval
700 units (3 phases)
8 buildings – 14 floors
$ 198,000 + taxes
(starting price)
3665, Boulevard Saint-Elzéar
West, Laval
5 buildings (2 phases)
$ 249,000 + taxes
(starting price)
Ocartier Condominiums
Le Saint Elzear
9, Boul. des Prairies, Laval
150 units
1 building – 16 floors
$ 229,000 + taxes
(starting price)
565, rue Robert-Élie, Laval
445 units
8 buildings – 8 floors
$ 234,000 + taxes
(starting price)
Quintessence
Marquise Condos
3730, Boul. Saint Elzear O., Laval
5 buildings – 10 floors
$ 580,000 + taxes
(starting price)
3653 Avenue Jean-Béraud, Laval
8 buildings – 12 floors
$ 229,000 + taxes
(starting price)
CONCEPT
For illustration purposes only
CONCEPT
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For more information:
Robert A. MacDougall
Chartered Real Estate Broker
Jones Lang LaSalle® RM
[email protected]
+1 514 667 5654
Peter Mouhteros
Certified Real Estate Broker AEO
Jones Lang LaSalle Real Estate Services, Inc.
[email protected]
+1 514 667 5675
Jones Lang LaSalle® RM
1 Place Ville Marie, Suite 2121
Montréal, Québec
Canada H3B 2C6
Jones Lang LaSalle Real Estate Services, Inc.
1 Place Ville Marie, Suite 2121
Montréal, Québec
Canada H3B 2C6
DISCLAIMER
Although information has been obtained from sources deemed reliable, Owner, Jones Lang LaSalle, and/or their representatives, brokers or
agents make no guarantees as to the accuracy of the information contained herein, and offer the Property without express or implied warranties
of any kind. The Property may be withdrawn without notice. If the recipient of this information has signed a confidentiality agreement regarding
this matter, this information is subject to the terms of that agreement. ©2014. Jones Lang LaSalle. All rights reserved.
Real Estate Agency
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