FORMER MONTREAL CONVENT ONCE OWNED BY UofM FINALLY SELLING AS LUXURY CONDOS
In 2003, the University of Montreal bought this building at 1420 Boul. Mont-Royal in Outremont, Montreal for $15 million from the original owners of the building that was built in 1924 as the convent for the Sisters of the Holy Names Jesus and Mary...
After spending $25,000,000 on reconstruction to convert the building into classrooms, the University of Montreal applied for a subsidy from the Government of Quebec for the total projected reconstruction cost of $140,000,000, but were rejected.
The University of Montreal then sold the building in 2008 to Frank Catania & Associates, a construction group, for $28,000,000.
In 2013, the deal fell apart.
All the while, a group called the "Rally for the Safeguard of 1420, Mount Royal" tried to have the University of Montreal take back control of the property and turn it into an educational space.
That didn't happen.
In 2016, then 27 year old Olivier Leclerc, became the new owner of the property after purchasing it for $29,500,000.
Leclerc then partnered up with Daniel Revah of Corev Immobilier Inc. to create a building of luxury apartments (as Catania had originally planned).
To appease those against the redevelopement, Leclerc promised to preserve the bike path to Parc Mont-Royal and to protect the original chapel of the convent...
A year later, Leclerc sought to be bought out of his portion due to a disagreement of vision with Revah, and despite a Le Presse report in June 2017 that...
Since the filing of a judicial appeal, the redevelopment work has been stopped.
It looks like Revah became the owner of the property and has seemingly completed much of the construction as there are currently 18 units available in the building, now called Le 1420, ranging in price...
From $681,560+GST+QST to $3,279,250+GST+QST.
And though I find the outside of the building a little creepy, and these stairs a little Shining-esque...
The promotional photos of the units are pretty great.
