Mondev’s 2024 Highlights!
As we step further into the company's third decade of operations, Mondev continues to uphold its core values: delivering high-quality real estate, construction, and investment opportunities that stand the test of time. While the world around us evolves, our commitment to enhancing Montreal’s urban landscape remains steadfast. Here’s a look at what made 2024 a standout year for us and what we’re excited about for 2025.
2024: Entering a New Era of Real Estate Development
Another Year of Adapting…
Real estate development is often seen as a long-term, unchanging plan, but 2024 proved once again that adaptability is the name of the game. With inflation, fluctuating interest rates, and shifting market dynamics, we took the time to carefully re-evaluate certain projects. Decisions like whether to sell or rent condos and townhouses were made with an eye on market trends. Thankfully, these adjustments paid off, with our rental projects seeing remarkable success!
Rentals Dashboard
In 2024, Mondev’s properties continued to impress both renters and buyers alike.
1200 Mackay (Golden Square Mile) and Ava (Côte-des-Neiges): With just two condos left in each building after a steady nine months of renting, tenants have embraced their modern living spaces and enjoyed elegant common areas that enhance their lifestyles.
Erin (Pointe-Saint-Charles) and Laurence (Old Montreal): These standout projects are closing the year strong! Don’t miss your chance to live in these prime locations, featuring luxurious rooftop pools, fully equipped gyms, and breathtaking views.
Univert (Lasalle): A first for Mondev, this townhouse rental project introduced young professionals and growing families to a modern, eco-friendly living experience. The demand for townhouse-style homes in Lasalle has been a refreshing success!
Making Strides in Sales
Though the Canadian real estate market faced headwinds this year, Mondev’s projects continued to see steady progress, thanks to the appeal of our high-quality developments.
Florence (Ville-Marie): The first phase, featuring blocks A, B, C, and D, is now 95% sold, with homeowners set to move in early 2025! Phase 2 launched in October, and an impressive 15% of blocks E, F, G, H, and I have already sold. These charming condos on a quiet street east of downtown are a true gem in Mondev’s 2024 sales portfolio.
Le 367 des Pins (Plateau-Mont-Royal): With 75% of the condos sold, the remaining units are now move-in ready! Residents can look forward to enjoying the rooftop terrace in late spring, with stunning views of Mount Royal by day and access to vibrant nightlife along Saint-Denis and Saint-Laurent streets by evening.
Prestance (Ville-Marie): The final phase of this prestigious project sold quickly, solidifying its reputation as a top-tier residential offering. Nestled in Ville-Marie’s lush surroundings just south of Lafontaine Park, Prestance offers unparalleled luxury and convenience. The swift sales of the remaining units speak volumes about the demand for this remarkable development, as residents eagerly anticipate enjoying its thoughtful design, premium finishes, and proximity to one of Montreal’s most desirable neighborhoods.
Empowering Homeownership in a Tough Market
The Canadian real estate market faced significant challenges in 2024 due to persistently high interest rates, making it harder for many to achieve their homeownership dreams. At Mondev, we recognized the need for solutions and introduced an incredible promotion: a fixed mortgage rate of just 1.75% for 36 months through our buy-down mortgage rate program. This initiative is helping buyers and investors alike overcome financial barriers, offering reduced monthly payments and creating an affordable pathway to owning property. In challenging times, Mondev remains committed to empowering more people to turn their dreams into reality.
An Exciting Year for Mondev’s Commercial Spaces
On the commercial front, 2024 was an exciting year as we welcomed several new and dynamic retailers and businesses to the Mondev family. At Griffin Square, the addition of Avril, a healthy, natural, and organic supermarket, and Starbucks, a premier coffeehouse, brought even more life to the community, with business thriving for both. Meanwhile, Keurig Dr. Pepper became our newest and largest tenant at 7260 Saint-Urbain Street, where they are enjoying their modern, high-quality head office complemented by upscale amenities, including a rooftop lounge, a fully equipped gym, underground parking, and more. As we continue to lease other office and retail spaces, we are especially excited about the potential tenant for the 11,500-square-foot space available in Old Montreal—a unique opportunity that could bring fresh energy to this historic and cultural hub.
Another Amazing Year at Motionball!
Once again, Mondev brought their energy and competitive spirit to the annual Motionball fundraising sporting event! With fierce enthusiasm, our employees fought for a chance to participate in this incredible initiative, and we’re thrilled to share that we finished in third place, raising an impressive $4,415 for this inspiring non-profit organization. Motionball’s mission to promote awareness for Special Olympics through inclusive social and sporting activities resonates deeply with us, making it an honor to take part.
The day was packed with fun and camaraderie as we competed alongside other corporate teams in a variety of games and challenges. Of course, we couldn’t have done it without the support and encouragement of our beloved in-house Special Athlete, Jason, whose presence always reminds us of the true spirit of the event.
Thanks to the collective efforts of sponsors, volunteers, and participants, this year’s Motionball raised over $58,000—an outstanding achievement for such a meaningful cause. We’re incredibly proud to have contributed and can’t wait to join the action again next year. See you then!
Looking Ahead to 2025
As we reflect on 2024, we’re proud of the resilience and creativity we’ve shown in navigating this ever-changing market. From innovative rental solutions to steady sales progress, Mondev is poised to make an even bigger impact in 2025.
We are diligently planning and finalizing preparations for the launch of four exciting new rental projects, strategically located in some of Montreal’s most vibrant and desirable neighborhoods: Plateau-Mont-Royal, Rosemont-La-Petite-Patrie, and Ville-Marie. These developments will bring modern, thoughtfully designed living spaces to communities known for their unique character, cultural richness, and accessibility. Additionally, we are gearing up to launch the highly anticipated third phase of the Florence condos, building on the overwhelming success of the first two phases. This next chapter will continue to offer elegant and intimate homes that perfectly balance comfort, quality, and style, further solidifying Florence as one of Mondev’s standout projects.
Stay tuned as we continue to shape Montreal’s future with ground-breaking developments and exceptional opportunities for buyers, renters, and investors alike.
