TGTA, the company we owe to the development of artificial intelligence headquarters in Montreal, is launching the first phase of new offices under the Jantes-Cartier Bridge, east of downtown Montreal.
“At the beginning of the epidemic, teleworking was the eighth wonder of the world. We can now better see its limits,” Martin Gallarney, a partner at TGTA, said in a phone call.
Esplanade Cartier is a residential, commercial and office project created by developer Prewell, author of several structures in central locations such as Lounie in Griffintown.
Among other features, Esplanade Cartier includes community organizations such as Public Square, Central Park, urban farms and the YWCA.
The office part of the quadrilateral Esplanade Cartier project, formed by Avenue de Lorimier, Rue Saint-Catherine, Boulevard Rene-Lawsque and Rue Parthenois, was handed over to Privel TGTA.
For those interested, O Mile X is an old useless knitting mill, which TGTA and its partners paid $ 17 million in 2014 to renovate before investing $ 50 million, then fill it with star tenants in the artificial intelligence sector. (AI) Mila, The Quebec Institute of Artificial Intelligence and the Institute for Data Valuation (IVADO). They sold it in 2019 to California Investor Group Spears Street Capital for $ 153 million or $ 410 per square foot.
Yes, but O Mile X, it was before the epidemic, it was referred to him.
“The office is relevant,” Mr Gallarnio retorted. Obviously, there may be more post-pandemic teleworking than before the epidemic. On the other hand, the trend of drastically reducing the amount of square feet per employee has stopped. We are going in another direction. ”
Air in the sail
He argues that the Montreal economy is booming, especially in the life sciences, AI and video game sectors.
“He’s a very intelligent person who can predict how everything will turn out in two or four years,” he says.
So we come back to the basics.
Objective standards are excellent location: Metro, Privilege Project Quality, Close to Saint-Catherine Street, We have great confidence in the site.
Martin Gallarney, partner at TGTA
Due to the widespread shortage of manpower in many sectors, the work environment as a pull factor is urgently changing, according to Mr. Galarnio.
However, the epidemic has its impact. The first phase office space was halved from 150,000 to 75,000 square feet. In total, the project will include 600,000 square feet of office space in three buildings. Another evolution, features emerged: the contactless path, air treatment with UVC rays, the opening of windows, private terraces and the “lounge” area on the ground floor.
The task of finding good tenants was entrusted to Andre Plord, an experienced broker at the Colliers Agency. “TGTA and Prével have discovered an extraordinary site that will create a strategic district near the city. In the aftermath of the epidemic, companies are determined to provide an exciting, efficient and safe working environment to attract and retain talent,” the real estate expert said in a press release. Offices will be delivered by mid-2023.