MEDWAY Group formalized, Friday morning, the acquisition of a coveted land for a long time on boulevard Laurier in order to build one of the most important real estate projects with a mixed vocation in Quebec City.
“It is a project that we have been working for a good end, so we are really proud and excited to concretize the acquisition of the land,” delighted the president and founder of Medway, Yan Boudreau.
The land located at the head of the bridges, at 3000 boulevard Laurier, may possibly accommodate a building with a total height of 28 floors, including 120,000 square feet of commercial space mainly intended for the health field and 25 residential floors representing 896 rental units.
“The GMF-U Laurier will move and we will find ourselves in the cutting edge to train future family doctors,” he added, adding that this will also provide first line care.
The project, which requires an investment valued at around $ 400 million, is expected to start in 2025 with preparatory, demolition and excavation work. The construction of the project will then begin, in 2026, and will go out over six years to end in 2032.
Affordable housing
Medway group also wants to bet on the affordability of housing while 50% of the units will be housing at $ 1,500 or less per month. Fifteen percent of these should also be available for less than $ 1,000.
“It will mainly be affordable units to meet the glaring needs in Quebec and the province. […] We really want to create a living environment on bay leaf with public transport axes at the Porte de Québec. ”
Although the average rent of all rental housing, all quantities combined, was already at $ 1121 in 2024 in Quebec, Mr. Boudreau estimates that it will be possible to offer housing in this price range, even if the delivery of these should not be done before at least four years.
Close collaboration
Although there are still steps to be crossed, the project should position itself as the biggest real estate project in Medway to date. Yan Boudreau also explains that the city’s good collaboration has made it possible to make things easier until now.
“Quebec City has really put the double bites to work together [avec Medway]. […] What we want as a developer is to work with what the city wants to do and that’s why we are happy to present a project that meets the criteria and that will continue to meet them. ”
The latter also wanted to emphasize that the arrival of a future structuring transport on Boulevard Laurier will be a plus for the development of the sector as well as for the type of customers that the group seeks to join.
