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CBC/Radio-Canada has finalized agreements that pave the way for the sale of its current building and the construction of a new broadcast centre. The public broadcaster sold its property to Groupe Mach for $42 million and the eastern portion of the land, where the new Maison de Radio-Canada is set to be built, to developer Broccolini Group for $1.
Located on the site of the company's former "Papineau parking lot", the eastern portion of the property is part of a transaction that includes the construction of the new facility and a lease of 30 years at a cost of $21 million per year. That amount matches the annual maintenance cost incurred for the tower on the western part of the lot, which will undergo restoration work after CBC vacates the building. The sale allows the CBC to offload an accumulated maintenance deficit on the tower equal to $170 million.
"This marks yet another milestone in the plan to equip CBC/Radio-Canada Montreal with optimal facilities that will turn it into an unparalleled creative and production space for its teams — at no additional cost to the government or taxpayers," said CBC/Radio-Canada's President and CEO Hubert T. Lacroix.
Construction of the new Maison de Radio-Canada will be facilitated by Société en commandite La Nouvelle Maison, led by Broccolini. Béïque Legeault Thuot Architectes (BLTA) and Quadrangle Architects have collaborated on the design of the future complex, which renderings show will feature huge expanses of glass. Initial site preparations are scheduled to begin on August 7.
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| Related Companies: | BDP Quadrangle, Broccolini |
