LIV LIFE DOWNTOWN
Rental apartments atop a hotel
In the heart of downtown Montreal, new luxury rental buildings are few and far between. But a new project by Groupe Canvar going up above the Holiday Inn hotel at the corner of René-Lévesque Blvd. W. and Lucien l’Allier St. is set to offer renters a slew of new options in the city’s core.
Liv will be a single-phase development composed of 239 residential units upon its completion, which is currently scheduled for fall. The building will have studios, one- and two-bedroom units ranging from 372 to 1,387 square feet, and will feature many of the highend finishings commonly found in luxury condo units for sale. Rental rates will range from $1,025 to $4,635.
“The city has been waiting for rental units like these,” said Tristan Pungartnik, director of operations at Summit Property Management. “These units will always be rental units that can be occupied longterm and are located in the middle of downtown Montreal.”
Because residing in a rental unit means tenants can forgo the typical costs of property ownership, the project will offer a more affordable option for people seeking a unit in a luxury development.
“It’s appealing in the sense that it creates a new opportunity for people who may not be able to afford to purchase a luxury condominium, yet don’t want to settle for a lesser rental option,” said Ryan Haas, president of Corporate Assets Inc., who is considering renting a unit in the Liv project. “My firm often travels to Montreal for business, and I’m looking for a place to keep as a more costeffective option than staying in a hotel, while not having to sacrifice on the amenities or many of the finishes provided. I think Liv will meet my needs as a tenant, and I’m very excited to see the completed project.”
The apartments will have 1¼-inch-thick granite countertops, and two-tone kitchens with stainless-steel appliances. The bathrooms will feature tiled flooring, and the rest of the units will have laminate flooring and ninefoot ceilings, with even higher ceilings in the penthouse apartments.
In addition to these inclusions, monthly rental fees will be all-encompassing, which means heating, hot water, and electricity are rolled into the cost. All apartments will also come with central air conditioning, washer and dryer, kitchen appliances, and blinds.
“Our tenants really like that the units include everything they do,” Pungartnik said. “They don’t need to worry about hydro bills, and the fact that it’s brand-new and the units have never been lived in is also very attractive to tenants.”
This type of setup is ideal for professionals and travelling executives, he added. “Many tenants who are on two- or three-year work contracts and are unsure if they will be staying longer, so they choose to rent.”
The Liv building will also feature many of the coveted amenities found in high-end condo projects. Tenants will have access to an indoor pool, hot tub, gym and sauna shared with hotel guests. But an outdoor hydro spa on the 17th floor is exclusive to Liv residents.
The building will also have a front desk manned 24 hours a day, full-time cleaners, on-site maintenance staff, and a live-in superintendent.
“The amenities are above and beyond (those of ) a standard rental building,” Pungartnik said. “The 24-hour front desk gives peace of mind and full-time cleaners ensures that the building is always properly maintained.”
In addition to all of these features, Liv’s location sets it apart on the Montreal rental market. Its proximity to shops and malls, restaurants, cafés and nightlife venues, as well as public transit and major highways, make it a prime location for a rental building.
“A new Provigo just opened around the corner, and Lucien l’Allier métro station is next door,” Pungartnik said. “The area has everything tenants might need, and is at the true centre of the city.”
The amenities are above and beyond (those of) a standard rental building. The 24-hour front desk gives peace of mind ...