Monetization of a Portion of Place Panama Air Rights December 2020
First Capital has agreed to monetize its density rights in a portion of its Place Panama development site located in the City of Brossard on Montreal’s south shore, executing on its value enhancing entitlement program. For many years, the entire Place Panama property was improved with only a 90,000 square foot single storey retail centre.
In 2018, First Capital created a master development plan for the 6.2-acre property and successfully rezoned it to permit 1.9 million square feet of mixed-use density, allowing for heights of up to 30 storeys. The master-plan divides the property into three distinct blocks. One of these blocks is being sold as part of this transaction and the remaining blocks will be retained by First Capital. The 3.2 acre block being sold will accommodate 0.9 million square feet of residential, office and retail density. First Capital will retain the right to acquire ownership of the retail component of this phase of the development.
The property is a 10-minute drive to downtown Montreal and benefits from excellent and improving access to public transportation. Directly adjacent to the site will be the first stop on the South Shore of Montreal’s new light rail network (REM), with expected completion in 2022. Additionally, a bus terminal that services most of the south shore is situated directly adjacent to the property. First Capital has retained the balance of the development lands which directly abut the transit hub. While crystallizing the enhanced value of the portion of the development to be sold, the value of these retained lands and their future development potential will be enhanced upon completion of the REM and as development of the 3.2 acre block progresses.
Un peu en retard, mais il me semble que la hauteur maximale du lot mp-674 est vraiment basse étant donné que ça donne sur Taschereau. J’aurais mis du 6-8 étages au moins.
Un plan préliminaire du développement a été déposé au conseil de ville de Brossard.
«PROJET DE L’ÎLOT PANAMA PHASES 1 ET 2 – PLAN PRÉLIMINAIRE DE DÉVELOPPEMENT - APPROBATION Considérant le dépôt d’un plan préliminaire de développement pour les phases 1 et 2 du projet de l’îlot Panama; Considérant que l’approbation de ce plan préliminaire de développement ne constitue pas un engagement du conseil municipal de signer une entente relative aux travaux municipaux; Il est proposé par …. Appuyé par …. Et résolu D’approuver tel que soumis, le plan préliminaire de développement (rues, parcs et espaces publics) des phases 1 et 2 du projet de l’îlot Panama, suivant l’avis favorable émis par le comité consultatif d’urbanisme.»
The plan also shows avenue Panama being reduced in size, with protected bike path and trees down the centre!
Something to note is their plan of the pedestrian space by the REM is according to the old plans prior to them installing the covering, so that’s slightly inaccurate.
I stand corrected, I’ve looked at the plans more carefully, the street will be larger no lane reductions, just making the crossing wider for the protected bike lane. Ugh I hope eventually the space is given back to people not just motor vehicles.
Je me demande ce qu’il font ? C’est surtout sur le coin où sera situé un espace publique. Est-ce qu’ils commenceraient ça?
J’ai pas d’informations passer à ce sujet par contre.