The new structure will be located at the intersection of Bleury Street and René-Lévesque Boulevard.
The second tower of the Livmore Ville-Marie community is expected to be complete by July 2025 and add 424 units as well as commercial space on the ground floor, GWLRA said in the announcement Thursday.
It follows on the development of Ville-Marie I tower, which opened its doors on July 1, 2022 and now has approximately 600 residents in 396 units. It is 97 per cent leased.
“The Livmore brand of properties represent an important, yet historically underserved segment of the housing market,” Glenn Way, president of GWLRA, said in the announcement.
“Adding another 46-storey tower to our existing Le Livmore community fulfils our vision for this prime Montreal asset and confirms our confidence in the growing demand for high-quality, amenity-rich purpose-built rental properties in key urban markets.”
About the Livmore Ville-Marie community
Livmore Ville-Marie II will offer studios to three-bedroom units, with most of the apartments offered being one- and two-bedroom layouts.
Square footage for a studio is to be 330 to 450 square feet, while space in a three-bedroom will be between 1,120 and 1,780 square feet.
There will also be three guest suites available.
Pricing for the new units has not been revealed.
One-bedroom apartments in the first tower ranged from $2,000 to $2,200 per month and two-bedroom units from $2,400 to $2,600, according to Todd Nishimura, senior director of marketing, leasing and communications at GWLRA Residential, in a previous interview with RENX.
An indoor pool, a dog park with a pet spa and fitness centre will be offered as amenities.
Accommodations for work-from-home residents will include a co-working space with a mix of private offices, banquet-style work booths and collaboration areas with open seating around large tables.
Nishimura said the company looked into offering more co-working space in the second phase because new renters were drawn by the amenity.
"The target demographic for each Livmore community is different," Erica Penrose, vice-president multiresidential for GWLRA, wrote in an email exchange with RENX.
"For the Le Livmore (Ville-Marie) community, the demographic primarily consists of young professionals — made up of couples and singles, students and foreign nationals coming to Montreal for work."
Transit options like a Via Rail Station and McGill Station are within walking or biking distance. For shopping, Montreal’s Eaton Centre and Complexe Desjardins are also close by.
The building is also within walking distance of McGill University and the University of Quebec campus in Montreal.
GWLRA’s push for apartments
The city continues to have robust demand for rental accommodations, Penrose explained.
"Montreal’s apartment sector continues to be robust with a major rebound in population growth over the past year due to the removal of pandemic-related restrictions, the return of in-person learning and ample employment opportunities," she wrote.
"Apartment vacancy today is close to two per cent, showing the supply-demand imbalance that exists today.
"Class-A apartment demand is well-supported by students and the strong presence of high-paying jobs in the artificial intelligence, health-care and aerospace sectors due to its highly educated population.
"This trend is likely to provide further support to apartment rental demand over the coming years.
Le Livmore Ville-Marie is the third Livmore-branded residential development GWLRA has undertaken after The Livmore High Park and The Livmore Bay & Gerrard in Toronto.
The Ville-Marie is the company’s first residential build in Montreal.
It is also constructing Livmore communities in Ottawa's Westboro neighbourhood and in Mississauga – which are scheduled for occupancy in 2024 – and a sixth in Vancouver slated to open in 2026.
GWLRA has plans to build more of the communities across Canada in the future.
- With files from Don Wilcox