Former construction magnate Tony Accurso has completed the sale of his estate in Deux-Montagnes, Que., to the developers of a five-tower waterfront apartment project for $23 million, La Presse reported.
The publication had previously reported that a sale was imminent. Plans call for the land to be used as part of the five-tower project. The sale helps the proposed project move closer to becoming a reality.
Accurso sold the property to a newly formed Quebec numbered company that is an affiliate to (9559-3570 Québec inc.) of Belœil, owned by the two shareholders of Habitations Trigone, of Belœil, and Toronto-based Montez Corporation, according to La Presse.
Habitations Trigone is the proposed project’s developer.
The project includes the five towers and townhouses behind them, and structures would total about 1,500 residential units, according to La Presse.
Trigone owners Patrick St-Pierre and Serge Rouillard lost all of their building licenses in 2011 due to repeated violations of construction laws, so they are subcontracting their proposed development through Beloeil, Que.-based multi-residential developer Espaces Lokalia, La Presse reported previously.
According to the previous report, the site includes Tony Accurso’s vast estate a house belonging to his son Giovavanni and adjacent lots owned by other people.
Trigone is now in advanced discussions with the City of Deux Montagnes on the project, according to La Presse.
Accurso served one-sixth of a four-year sentence in prison for corruption related to collusion involving former Deux-Montagnes mayor Gilles Vaillancourt. Accurso insisted to La Presse that he is not involved in the proposed project and would only be selling the land.
“I wasn’t the one who wanted this project,” he told La Presse previously. “The City needs it, and the government requested the densification of the area.”
To help complete the sale, Accurso purchased a strip of land, which his family had occupied since the 1950s, from the provincial government. As a result, the strip is to be included in the proposed project and be available to the city under a perpetual easement if the project is approved, according to La Presse.
“It will be a promenade all along the lake,” Julie Guindon, the city’s general manager, told La Presse previously. “Before, it wasn’t accessible; now it will be open and people will be able to walk along it.”
The proposed development site is located within one kilometre of the Réseau express métropolitain (REM) light-rail line’s Grand-Moulin station.
Guindon has indicated to La Presse that the city could issue a building permit soon.
Proposed Lokalia project in Deux-Montagnes, Que.
Rendering: City of Deux-Montagnes
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