Canada Lands Announces the Sale of Residential Lots in its Les Bassins du Nouveau Havre Project

Canada Lands Company CLC Limited (CLC) is pleased to announce the selection of a partnership between Prével and Conceptions Rachel-Julien. (Prével/Julien), for the sale of various residential lots in the Les Bassins du Nouveau Havre project, in the Sud-Ouest Borough of Montréal. This transaction is conditional on a due diligence review to be undertaken promptly by Prével/Julien.

“We are pleased to announce that Prével and Conceptions Rachel-Julien were chosen following a two-step selection process launched by CLC last March and completed in October”, said Mark Laroche, CEO and President of CLC. “This underlines the continuing progress we have achieved in this important redevelopment project.”

This transaction with the Prével/Julien partnership signals the launch of work on CLC’s project, in keeping with the vision in the master plan and expected timetable.

“We are particularly proud that our proposal was selected by CLC, and that it corresponds to the redevelopment vision for Les Bassins du Nouveau Havre. We are confident that the project we want to develop on this unique Montréal site will be exceptional and will garner public approval”, said Jacques Vincent and Denis Robitaille of Prével/Julien. “Work on the first phase of construction should begin toward the end of 2011.”

Approximately 1,600 residential units, including family-oriented housing and affordable housing, will be built by Prével/Julien on nearly half of the site. Among other planned uses on the site, CLC’s project includes 400 units of social and community housing coordinated by l’entreprise d’économie sociale Bâtir son quartier, as well as an employment sector, by the Regroupement économique et social du Sud-Ouest (RESO). The master plan also includes public spaces, pedestrian walkways, a bio-retention pond and a new street.

Prével and Conceptions Rachel-Julien have built more than 12,500 housing units in Montréal, notably in the following projects: “Lowney”, “Les Quais de la Commune” and “Le Quartier 54”. They are active in various housing markets, including affordable housing, family housing and retirement residences. These two developers are leaders in urban sustainable development initiatives.

Prével/Julien has created a website for those who wish to subscribe to receive future updates (lesbassinsduhavre.ca).

CLC is an arm’s length and self-financed federal Crown corporation. The company purchases federal properties at fair market value, and improves and sells them to optimize the financial and community value. The company also owns and manages select properties such as the CN Tower, in Toronto. To learn more, please visit www.clc.ca, www.cntower.ca, andwww.nouveauhavre-lesbassins.ca.