Homburg BPF Canada, a joint venture between Homburg Invest Inc. and Bouwfonds Property Finance of The Netherlands, has entered into an agreement in principle to develop properties in Montreal, Quebec, Canada with Telemedia Development 1 Inc. of Montreal.
The partners have entered into an agreement to purchase the former Hotel Viger located on the eastern edge of Old Montreal situated between the downtown commercial core and the St. Lawrence River. The site contains in excess of 5 acres and is the location of the former Hotel Viger, a 100 ,000 ft² heritage building originally constructed in 1897 by Canadian Pacific Railways. The partners plan a multi-use upscale urban development which will take pla ce over the next few years that will result in an investment of in excess of approximately €250 million ($300 million).
Quartier Viger, mid-19th century, was the center of town when Montreal shone as the political and commercial hub of Upper and Lower Canada. The hotel was designed by American architect Bruce Price whose previous credits included the grand Chateau Frontenac in Quebec City, the Banff Springs Hotel and Montreals stately Windsor Station.
The partners are also looking at certain other opportunities in the City of Montreal.