March 23, 2015 15:12 ET

$250 M Residential Construction Investment in Laval: Groundbreaking Ceremony with Mayor Marc Demers

LAVAL, QUÉBEC--(Marketwired - March 23, 2015) -

Editors Note: There is a photo associated with this Press Release.

Groupe Garabedian Lifestyle officially broke ground today on their latest real estate project, AQUABLU, located on the shores of Rivière des Prairies. The $250 M condo project will include three condo towers, with penthouses and riverfront villas. The ceremony marked a milestone in the City of Laval's economic and project development, as the first major project of its kind to be breaking ground in recent years.

AQUABLU is a three-phase project; the first phase of the project will be delivered to owners in 2016 in the first tower of 70 condominium units and penthouses spread over 15 floors, with six waterfront villas. 60% of the units have already been sold.

John Garabedian, President of Groupe Garabedian Lifestyle, addressed media prior to the official ceremony, noting that "The project offers an exceptional site to a discerning clientele, eager to invest in a unique lifestyle in a prestigious residential area neighbouring Le Domaine des Berges with its multi-million-dollar luxury homes."

Condos AQUABLU is located on a 1,000,000 square foot piece of waterfront land on chemin du Bord-de-l'eau in the Sainte-Dorothée; 60% of the site will remain as green space. This remarkable luxurious residence project will be built on the last piece of land of this type in Laval, so close to the water, with unobstructed southern-facing waterfront views.

The realization of this project will hold many benefits for local residents: a pedestrian bridge will provide access to the site and access to the riverfront will be rehabilitated through the expansion of the existing marina; a multifunctional path will be developed around the site, and a 30,000 square foot park will be given to the city of Laval by the promoters.

About Groupe Garabedian Lifestyle

Groupe Garabedian Lifestyle, led by John Garabedian, develops commercial, industrial and residential real estate projects. Pioneer in the practice of online real estate and covering markets throughout Canada and the United States, Mr. Garabedian has been a recognized expert in the field for 25 years. Since 2010, Mr. Garabedian is the main promoter of two projects that offer residents a luxurious construction with a unique style thanks to their privileged location: Le Domaine des Berges, an upscale residential neighbourhood, and more recently, AQUABLU.

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