The Royalmount pays for luxury. Louis Vuitton, Gucci, Tiffany & Co. and RH are among the main brands that will be installed in the facilities of the future shopping center in the spring of 2024, Andrew Lutfy, president and CEO of Carbonleo, the company developing the project, to be announced Wednesday, located in Mont-Royal, at the corner of the 15 and 40 freeways.
Posted at 5:00 am
Despite the prevailing climate of economic uncertainty, Lutfy persists and signs: the luxury market does have its place in the metropolis. “I had the same question in 2018 and 2019, just before we opened the Four Seasons and the Holt Renfrew, he said in an interview with Press. I know my city. Yes, there is a market. »
Mr. Lutfy was behind the plan to open the luxurious Four Seasons hotel in 2019 in downtown Montreal. The property provides direct access to the Holt Renfrew Ogilvy store. For its part, the Royalmount has a global budget of 7,000 million dollars.
In addition, according to the businessman, 85% of the luxury items that Montrealers buy are purchased outside the metropolis. “It means that he is a Montrealer who goes to New York, Toronto, Paris, London, buys a nice bag or other product and brings it back,” he illustrates, recalling in passing that there are also many online purchases.
There are huge economic losses that we will recover here in Quebec.
Andrew Lutfy, President and CEO of Carbonleo
Thus, after several months of negotiations, the luxury addresses will settle on the corner of highways 15 and 40. Louis Vuitton, known in particular for its handbags, will open a store with an area of 9,150 square feet. RH, an American high-end furniture company, will set up its flagship store there, the first in Montreal, in a 45,600-square-foot space. To this will be added Gucci, Tiffany & Co., Sandro and Maje. All these stores, among the first to be installed in this shopping center, will receive their customers from the spring of 2024.
“Some of these brands have no knowledge of Montreal, so it took a lot longer [avant d’avoir des confirmations] “Admits the great boss of Carbonleo. “They wondered why they had never settled in Montreal. For some of them, the spaces and supply were never adequate, he says. Some of these big luxury brands would never set up shop on rue Sainte-Catherine. Going to the South Shore or North Shore was also not an option. »
“We always said it would be a great project. We announce names that are world leaders. We are keeping our promise,” says Mr. Lutfy, whose project has been heavily criticized, proudly states.
Andrew Lutfy also ensures that the Royalmount will be within reach of all pockets. “There will also be a much more affordable offer. There will be a good mix of locals and internationals. »
However, it was impossible to have more details about the future tenants. More names will be revealed in the coming months. The Royalmount will house a total of 170 stores and around 60 restaurants. A linear park of 3 km will also be developed there. Offices and theaters will eventually be part of the décor.
As for the construction of condominiums and homes, the issue is not yet resolved. “To date, we do not have residential zoning. Residential is in the plans, but we have work to do to get it zoned. »
However, shortly after his election in 2021, Mount Royal’s new mayor, Peter Malouf, had clearly indicated his opposition to the residential component of the project. From the beginning, the Royalmount has not been unanimous. The lack of congestion mitigation measures and the neighborhood disturbances feared by Dollarama management, whose warehouses and distribution center are located nearby, are some of the criticisms that have been leveled at the project in recent years. years.
Thus, at a time when all eyes are on the congestion problems caused, in particular, by the partial closure of the Louis-Hippolyte-La Fontaine tunnel or by other road works, Andrew Lutfy, whose project will be located in an area Already a very busy road, remember not having “control over traffic”.
He also says that you will surely see a good number of visitors going there by public transport. The developers have decided to build a walkway between the De la Savane metro station and the shopping centre.
“Traffic has always existed. Nothing will change, she says. We do not see any impact on our project. The Royalmount can also act as a retention pond. In rush hour, if you’re stuck in traffic, you can always go to the Royalmount, have a coffee, have dinner, go shopping. It may be a bit of an exaggeration… One thing is for sure, I am not in control of the traffic. »
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