The real estate subsidiary of the Caisse de dépôt et placement du Québec (CDPQ) plans to invest $200 million to revitalize the Place Ville Marie esplanade with the aim of making it an urban gathering place in the city.
Ivanhoé Cambridge said Thursday that the announcement was part of his plan to inject $1 billion into downtown Montreal.
Bernard Poliquin, senior vice-president said in a press release that the Esplanade “will offer cultural programming and experiential activities at the height of major international cities.”
Montreal firms Sid Lee Architecture and Menkes Shooner Dagenais Létourneux Architects have been hired for the project.
The PVM upgrade, set to be executed between 2018 and 2019, is the latest project announced by Ivanhoé Cambridge from a list that includes Maison Manuvie, to be inaugurated on Monday. Others include the recently upgraded Fairmont The Queen Elizabeth and the Eaton Centre, the latter of which is ongoing through 2020.