Close to Work
Montreal’s downtown office core is segmented into western, eastern and southern. Nodes. Le Peterson is strategically located in the heart of downtown, minutes from all three of these areas:
- Steps from the financial district, located along McGill College Avenue and home to many of the city’s most well-known office towers and corporations.
- A short 2 kilometer walk to Old Montreal, the heart of Montreal’s high tech community.
- Le Peterson is minutes from Complexe Desjardins, (a four tower complex, which is home to Mouvement Desjardins and many Quebec Government offices).
- Just over 1 kilometer from the new CHUM, a new $2 billion downtown super-hospital, which will consolidate the services of the Hotel Dieu, Notre Dame and Saint Luc Hospitals into one, new state of the art facility. In 2016, the CHUM will employ 12,000 people, including 900 doctors and 5,800 students and residents.
Close to Higher Learning
McGill University – Founded in 1821,with some 300 buildings, 39,500 students and 250,000 living alumni, and a reputation for excellence that reaches around the globe, McGill has carved out a spot among the world’s greatest universities.
- 1st in Canada among medical-doctoral universities for ten consecutive years (Maclean’s 2015)
- 21st in the world (QS World University Rankings 2014/15)
- 300+ programs of study
- 24% international students
- 23% graduate students
- Highest % of PhD students of any Canadian research university
- 180 countries where alumni live and work
- 138 Rhodes Scholars—the highest among Canadian universities
- 10 Nobel Prize winners—the highest among Canadian universities
UQAM– The University du Quebec at Montreal has the largest student population of the University of Quebec system, with 41,000 students and over 1,000 professors,
- UQAM is located one block east of Le Peterson.
- International Influence – In the many sectors in which it works, UQAM is known internationally. Its influence extends to Europe, Africa, Asia and South America. To facilitate exchanges of researchers and travel for students, the University has increased its bilateral and multilateral agreements regarding training, research and the creative arts. Every year, it welcomes over 2,200 foreign students from 80 countries.
Other important downtown educational facilities include the CEGEP du Vieux Montreal, with 6,000 students, the ITHQ – the Institute of Tourism and Hospitality, (1.5 km) and Concordia University, (1.4km) with another important downtown campas
Close to Everything Else
Once your work day ends, the famous downtown Montreal lifestyle becomes yours to enjoy.
- The entertainment sector centres on the Quartier des Spectacles, just outside the front door, including Montreal’s Entertainment District- home to Festival International de Jazz de Montréal, ranked as the world’s largest jazz festival by Guinness World Records, the Festival has been synonymous with a passion for music for over three decades, Place des Arts and numerous theatres, cinemas and art galleries.
- Shopping Montreal’s most famous streets, Sherbrooke Street (50m), Ste. Catherine Street (400m), boulevard St. Laurent (800m) and boulevard St. Denis (1.4 km) is just steps away.
- Grocery stores, pharmacies, restaurants and bars are all conveniently located, allowing Le Peterson to offer true 24 hour urban living.
- A 24 hour concierge and spectacular on-site amenities mean that you can also enjoy the location, even when you don’t feel like leaving the comforts of home.
ABOUT THE RENTAL MARKET IN MONTREAL
Montreal’s rental market, with over 450,000 rental suites, is strong. Overall vacancy is approximately 2.6%, based on the latest CMHC survey and very little new rental construction is forecasted. Montreal’s population is estimated to grow by 30,000 new residents each year which will serve to keep vacancy low. Of the approximately 12,000 new condominiums delivered annually, only 2,000 to 3,000 are added to the rental inventory, primarily by condo investors, with very little impact on the rental inventory. These condominium suites represent some of the best rental product on the market, when compared to the aging rental stock, which is generally older, of lesser quality and which offer less efficient spaces and weaker amenity choices.
Le Peterson sits in the heart of one of Montreal’s strongest rental nodes. McGill University, University of Quebec at Montreal (UQAM), the downtown office core, major employers like Desjardins, Loto Quebec and the new downtown super-hospital, are all within a short walking distance and represent a very substantial, under-served and growing renter population. A table showing comparable condominium rentals, in two closely located properties, is included herewith. The results confirm a tight local rental sub-market, with rents in the $2.50 to $3.25 per square foot range, in buildings older and with lesser amenities than Le Peterson.
THE RETURN ON YOUR INVESTMENT
|2 BEDROOM ON 15TH FLOOR||1 BEDROOM ON 12TH FLOOR|
|Estimated Monthly Taxes||($406.00)||($297.00)|
|Management Monthly Fees (5%)||($100.00)||($75.00)|
|Principle Monthly Repayment (Avg. on 1 yr.)||$742.00||$543.00|
|Return on Investment ( Year 1)||11.8%||10.3%|
Note: 3 Years fixed rate and 25 year amortization period.
- Condo fees are based on pro rata share of the value of the project and not on $ per square foot
- Estimated taxes are based on Price before GST & QST and City and School mill rate of 1.0425% & 0.22463%
- Optional service, does not apply if owner self manages