$1,000,000,000 Downtown Montreal Building Project Is A Go

Ivanhoe Cambridge, Quebec's pension fund manager, announced today it will be spending $1 billion over three years to renovate and construct new buildings in downtown Montreal.

Here's what the money will be spent on:

• Renovating Place Ville Marie and adding an observatory to the top floor
• Modernizing the Queen Elizabeth Hotel
• The redevelopment of the Ailes de la Mode area

Ivanhoe Cambridge is also planning to build a new office tower on de Maisonneuve. If built, the tower will built at 900 de Maisonneuve and house 475,000 square feet of space to be leased.

Is this money well spent?