The hotel component of the biggest commercial real estate project in the history of the Montreal suburb of Laval is ready for heads to rest on pillows.
The newly opened 10-floor, 188-room Courtyard by Marriott at 500 Lucien-Paiement St., is part of the mixed-use Espace Montmorency project that is connected by tunnel to the Montreal metro system via the Montmorency station.
The $45 million hotel took over nine years of planning and building and was funded with contributions from Montreal developers Montoni and Cogir, as well as the Fonds de solidarité FTQ pension fund. HMM subsidiary Urgo Hotels & Resorts Canada will manage the hotel as one of the 11 it oversees in the Montreal area.
Original investors included in the $450 million Espace Montmorency project included Groupe Selection, a retirement home company that pulled out of the project after falling into financial difficulty last year. The hotel was originally slated to open in the fall of 2023.
The 1.3 million-square-foot Espace Montmorency project includes 500,000 square feet of office space, 700 apartments, a 20-floor apartment tower and retail space. The hotel sits near Place Bell, home of the American Hockey League Laval Rocket team battling for a playoff spot.
Laval is home to about 438,000 of the 4.25 million residents in the greater Montreal area. The municipality occupies the island adjacent to, and similar in size to, Montreal.
Montoni President Dario Montoni, said in a statement that the hotel, “...energizes the economic and social vitality of Laval's downtown," while Daniel Hinse, vice-president of investments for FTQ, described it as “an ideal location for the opening of a new hotel.”
Cogir Chief Executive Mathieu Duguay said, “The Laval region is increasingly hosting major corporate and cultural events and this new hotel, strategically located opposite Place Bell and offering a wide range of services within the superb Espace Montmorency complex, will meet a growing demand in the region."