Tianco Group, a Canadian company with majority Chinese shareholders, has joined Montreal-based Brivia Group in the development of YUL, downtown Montreal’s largest privately developed residential project. Tianco Group is also the first Chinese-held company to invest in the development of a high-rise condo project in the province of Quebec. YUL condominiums Inc. also announced the beginning of the process of preparing the site in order to begin construction work.
The YUL development will comprise two 38-story condo towers and 17 town houses, at 1400 René-Lévesque West, at the intersection of Mackay Street. The total cost of the project is estimated at $300 million.
“We have a long-term vision for Downtown Montreal. YUL demonstrates our desire to stand out from other real estate projects and position YUL as Downtown Montreal’s most prestigious address. YUL, as a major real estate development, will contribute to promoting Montreal on the international stage,” said Kheng Ly, president and CEO of Brivia Group.
YUL Condominiums Inc. is a consortium formed by two majority shareholders: real estate developers Brivia Group and Tianco Group. Brivia Group is led by Mr. Kheng Ly; it has developed several real estate projects in the Montreal region, including Innova Condos, C3 Cavendish, and Le Condoval. Tianco Group is led by Steve Di Fruscia. It is a Canadian company with Chinese shareholders, with projects already underway in Vancouver, and now Montreal.
“We are very excited to contribute to the revitalization of this part of Downtown Montreal. The arrival of YUL is a much-needed breath of fresh air for this downtown area that has been neglected for far too long,” added Steve Di Fruscia, CEO of Tianco Group. The condo is being designed by Menkès Shooner Dagenais LeTourneux, with completion expected in spring 2017.
The two condominium towers will offer a total of more than 800 residential homes, comprised of 3 ½, 4 ½, 5 ½ condos, penthouses and townhouses. YUL will offer high-end exclusive services to its residents, including a spacious garden of 23,000 square feet, an urban gym, an indoor pool, and an outdoor pool. On the 38th floor, a Sky Lounge will allow residents to enjoy panoramic views of Downtown Montreal, the Saint Lawrence River and Mount Royal.