Ivanhoé Cambridge continues development of Centropolis in Laval with the start of construction of 3055 Saint-Martin …

A new office building in a prestige location

MONTREAL, Oct. 4, 2012 /CNW Telbec/ - Ivanho Cambridge today announced it is investing $30million to build a six-storey Class A office building at Centropolis, in the heart of downtown Laval. The building, 3055 Saint-Martin Ouest, is one of the most significant developments in the area over the past five years, and strengthens Centropolis' role as a multipurpose services hub.

"We are very pleased to move ahead with this project, which will help enhance our offering in one of the most dynamic geographic areas in Quebec," said Daniel Fournier, Chairman and Chief Executive Officer, Ivanho Cambridge. "This initiative is perfectly in keeping with our development plan for value-added commercial properties in Quebec."

The advent of 3055 Saint-Martin Ouest is an integral part of the process of developing the Centropolis concept: a prestigious open-air property owned by Ivanho Cambridge: a lifestyle and work destination that re-creates a neighbourhood spirit in an urban-style setting. The start of construction on 3055 Saint-Martin Ouest is scheduled for this fall, with delivery expected in 2014.

"Many businesses in the service sector are choosing Laval to be closer to their client base and also to make their employees' commutes easier, and this is driving demand for quality office properties," explained Jean Larame, Senior Vice-President, Eastern North American Portfolio, Ivanho Cambridge. "3055 Saint-Martin Ouest will increase density at Centropolis as well as enhance the complex's visibility, which is of crucial importance to Laval. Activities in the area, customer flow, and vitality of tenant businesses will all increase as a result."

3055 Saint-Martin Ouest will be built to the highest construction standards in the industry, aiming for LEED Core & Shell Silver certification, making it an attractive choice for companies with elevated corporate social responsibility standards.

Centropolis boasts an outstanding location: the office property will be built on Saint-Martin Boulevard, near the Laval courthouse and within sight of Highway 15. The site is already home to 47 businesses, 23 restaurants and bars as well as 24 offices and service centres, employing some 1,600 people.

About Ivanho Cambridge Ivanho Cambridge is one of the world's 10 largest real estate companies. As at December 31, 2011, its assets totalled more than C$30 billion and could be found in over 20 countries around the world. Ivanho Cambridge is a real estate subsidiary of the Caisse de dpt et placement du Qubec (lacaisse.com), one of Canada's leading institutional fund managers. For more information, visit ivanhoecambridge.com.

Image with caption: "View from Promenade Centropolis of planned six-storey Class A office building at Centropolis announced by Ivanho Cambridge (CNW Group/Ivanho Cambridge)". Image available at: http://photos.newswire.ca/images/download/20121004_C4241_PHOTO_EN_18867.jpg

Image with caption: "View from boulevard Daniel-Johnson of planned six-storey Class A office building at Centropolis announced by Ivanho Cambridge (CNW Group/Ivanho Cambridge)". Image available at: http://photos.newswire.ca/images/download/20121004_C4241_PHOTO_EN_18869.jpg

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Ivanhoé Cambridge continues development of Centropolis in Laval with the start of construction of 3055 Saint-Martin ...