Montreal To Start Building $1.7 Billion Mega Mall This Year
It's happening whether the Montreal government likes it or not.
The Town of Mount Royal has approved the Royalmount mega-mall development last week.
The proposed $1.7 Billion mall will be located at the intersections of Highway 15 and 40.
The majority of the site will be located in the Town of Mount Royal, and they have approved it - but approval has not been received from the agglomeration council of Montreal.
Though city approval is necessary before moving ahead, president and CEO of Cabonleo, Andrew Lutfy - the developer of the project - plans to move forward anyway and believes he has all the authorization needed.
“The permission really lies within the Town of Mount Royal, and it’s been fully zoned and fully approved in TMR,” Lutfy said.
Andrew Lutfy, president, and CEO of Carbonleo, said he wants Montreal on board, even if he doesn't believe it's necessary.
"At this point, they are really just digesting the project and I guess they are going to come back to us," he told reporters earlier this week.
Montreal can’t block the project, but he wants the city administration on-board.
“Legally, the project can go ahead without any acceptance from Montreal. It’s on TMR land,” said Philippe Roy, the mayor of TMR and a supporter of the project.
Carbonleo has developed the Quartier DIX30 as well.
Lutfy says that pre-leasing has already begun, and they expect to break ground between July 1 - September 30, 2018.
The first phase of the project is now scheduled to open in 2022.
Lutfy estimates the cost of the first phase, alone, at $1.2 billion.
This will include retail, entertainment, hotel and office components.