On October 17, 2006, SITQ Inc. (a subsidiary of Caisse de dépôt et placement du Québec) and the Hines Group of Texas, one of the largest real estate organizations in the world, announced their joint intention to develop a new premium office building at 900 De Maisonneuve Boulevard West, in downtown Montréal. The project represents an investment of approximately $150 million. The new tower will be located on a vacant parcel of land in the heart of Montréal's central business district. The 28-storey building will feature nearly 400,000 square feet of prime office space, and 8 levels of above-ground parking that will be available for the tenants and the public. This project will be certified LEED, making it the first multi-tenant office building in Montréal to receive this certification.
SITQ's in-house counsels were assisted in the transaction by a team from Fasken Martineau, composed of Claude Gendron, Lise Rochette and Isabelle Durand.