Bromont Science Park and Montoni Group reach agreement for partial development of industrial zone
by CM Staff
This industrial zone will be composed only of buildings for industrial use, developed and built according to the applicable Urban Planning Regulations.
BROMONT — The Bromont Science Park will benefit from significant momentum in order to continue its growth thanks to an important agreement between the City of Bromont and Montoni Group for the partial development of the industrial zone whose cumulative area is approximately 6 million square feet. The arrival of new businesses, in addition to generating new jobs, will purportedly contribute to Bromont’s economic growth.
The City has committed to selling the land located on Montreal Road and Innovation Boulevard to Montoni Group at a selling price of $3 per square foot. The sale of the land aims to generate income of $18 million over time for the City, in addition to income from taxation and transfer taxes. Montoni Group will gradually acquire the land in question by building or making them available on the market. The developer will have an initial period of 5 years to fulfill the obligations of the agreement.
This industrial zone will be composed only of buildings for industrial use, developed and built according to the applicable Urban Planning Regulations. The affected lots are located near highways 10, 20, 30 and 35, in Quebec, as well as 87 and 89, in the United States, connecting New York and Vermont. They thus benefit from a prime location – 50 minutes from Montreal and less than 30 minutes from the US border. The presence of Roland-Désourdy Airport with customs services is also a considerable advantage.
“My vision for Bromont has always included the development of the Science Park. Thus, the City Council, in recent years has made significant investments to install municipal services on the land. The industrial sector provides significant revenue for the City and its deployment releases the pressure on residential development. Also, for investors, the Bromont Science Park is a unique, amazing and dynamic living environment that is difficult to replicate elsewhere.” said Louis Villeneuve, Mayor of Bromont.
This agreement was also made possible thanks to the work of the Bromont Economic Development Corporation (SODEB), which has been working for several years to attract investors to the Bromont Science Park. Its board of directors, staff and consultants are Bromont’s partners of choice in the city’s industrial development.
The Bromont Science Park aims to promote the gathering on its territory of companies in high technology sectors dedicated to research and innovation, by supporting their establishment and development in microelectronics, aerospace and advanced manufacturing clusters.