Gascon is proud to act as legal counsel to the real estate developer Services Immobiliers First as part of a major project known as “Humano District”, to be located on Galt Street West in the City of Sherbrooke.
As such, Gascon’s real estate team, led by Audrey Robitaille, participated in the negotiation and preparation of the documents for the acquisition of the building and the adjacent 100,000 square metres of land owned by the religious community Petites Sœurs de la Sainte-Famille, for an amount of $6 million, while also negotiating with the City of Sherbrooke on the project’s approval and guidelines.
Through its “Humano District” project, Services Immobiliers First intends to renovate and convert the convent and proceed with the development of a mixed-use project on the property. Over several phases, it aims to build new residential buildings as well as commercial and office space while providing for green space, public amenities and a multifunctional trail, for a global estimated value of more than $140 million. The objective of the developer is to increase the density of the sector while ensuring better access to Mont Bellevue and the Université de Sherbrooke campus, both adjacent to the future project.
Gascon is pleased to continuously assist this important real estate developer in setting up its partnership for the project while pursuing negotiations for the aspects relating to its construction, development and financing.