Proment Corporation will spend $150 million to build the 314-unit Evolo Flex rental tower, marking the final major development phase of its Pointe-Nord neighbourhood on the northern tip of Montreal’s Nuns’ Island.

The 26-storey building, set to be completed by summer 2027, represents the eighth phase of Proment’s 1.1. million square foot Pointe-Nord which currently has about 1,700 housing units and a valuation of more than $850 million. 

Evolo Flex is Proment’s 22nd building on Nuns’ Island and the first rental project for the company which has built more than 5,000 condo units on the island. Proment president Ilan Gewurz said he saw room in the market for a well-built and planned, higher-end multifamily building with several amenities. 

Evolo Flex will be near the Champlain Bridge and bridge to Nuns’ Island and steps from the Nuns’ Island REM light-rail station, which provides access to downtown Montreal in minutes.

“We just felt that it was an appropriate addition to the Pointe-Nord neighbourhood to do a high-end rental product.”

Proment noticed that some units in its condos were being bought by investors and “we saw over the years that our buyers have done really well and made a lot of money.”

In addition, the company has always kept a few rental units in each of its condo buildings. Doing so puts Proment at the table with other co-owners when it comes to management and maintenance choices and provides cashflow to cover overhead for such things as taxes on empty land, Gewurz explained.

The Evolo Flex tower

While the Montreal condo scene has been beset by high construction costs and an emphasis on small units aimed at investors, “we haven’t really struggled in the condo market partly because our philosophy has always been to give everything to our buyer,” he said, including solid amenity packages and high-quality construction.

Evolo Flex will offer inset balconies and units will range from studios of 475 square feet to three-bedrooms of 1,295 square feet. 

Amenities will include a spa Swedish circuit with hot tubs and cold dunks, outdoor pool, sauna and open-air gym, courtyard garden and landscaped areas, exercise room, lounge and reception hall, coworking spaces and a meeting room.

Despite its proximity to the Nuns’ Island REM station, the building will have about 250 parking spots. 

“Parking is tricky for builders. It’s expensive to build. We’d rather not build it,” he said. However, while many younger people don’t have cars, empty-nester tenants may have two cars: “I certainly think there’s a population that will come that will want parking. How much is to be determined.”

Gewurz says a decision has not been made as to whether Proment will manage Evolo Flex or use a third-party manager. 

The history of Proment's Pointe-Nord

What is now Pointe-Nord was originally envisioned for office building development because “in the 1960s they thought nobody would live here between two bridges.” 

Twenty years ago, when Proment was running a golf driving range on the site, Gewurz was tasked by his late father Samuel Gewurz to create a world-class community. (Gewurz’s grandfather was one of the partners who bought the land on Nuns’ Island in 1955 from the nuns of the Congrégation de Notre-Dame.)

Gewurz says the eventual master plan put the priorities on maintaining views of downtown and the St. Lawrence River, providing waterfront access and green spaces, building a development with a commercial main street and diversified housing and creating a community.

Pointe-Nord now comprises 75 per cent green spaces and is “incredibly walkable,” he said.

“Wherever you are in the neighbourhood you feel the presence of the river. That’s very unique. Montreal is an island, but you don’t really feel the water. We wanted people to really feel like they’re in a waterfront community and the people who live there today spend an enormous amount of time on the water’s edge, which is very special.” 

The site includes a plaza for events, a commercial main street in the middle and mom and pop retailers, including a Japanese restaurant, yoga studio and hair salon. There is a waterfront Les Enfants Terribles bar-restaurant, Mamie Clafoutis bakery and pastry shop, an upcoming Italian restaurant and plans for a butcher and cheesemonger.

A "world-class" development

Pointe-Nord is one of the first neighbourhoods in Canada certified LEED ND (Neighbourhood Development) Gold. Its features include green roofs, sustainable transportation options, rainwater recovery and covered parking lots with parks and inner courtyards. 

“I don’t think Pointe-Nord has been recognized yet for what it is, but I think in time it will be because I really believe it is world-class.”

Gewurz says there is still the possibility of a future midrise development at Pointe-Nord and a hotel or office on what is now a parking lot.

Proment has been exclusively Nuns’ Island focused and has no current plans to develop off island.

“My father’s philosophy was always to focus on what you’re focusing on and do it well,” he said. “I don’t need to have five projects on at a time.”