The Royalmount pays for luxury. Louis Vuitton, Gucci, Tiffany & Co. and RH are among the major brands that will take up residence in the premises of the future shopping center in the spring of 2024, Andrew Lutfy, chairman and CEO of Carbonleo, the company developing the project, is due to announce on Wednesday. located in Mont-Royal, at the corner of highways 15 and 40.
Despite the prevailing climate of economic uncertainty, Mr. Lutfy persists and signs: the luxury market does indeed have its place in the metropolis. “I had the same question in 2018 and 2019, just before we opened the Four Seasons and the Holt Renfrew,” he said in an interview with The Press. I know my city. Yes, there is a market. »
Mr. Lutfy was behind the plan to open the luxury Four Seasons hotel in 2019 in downtown Montreal. The property provides direct access to the Holt Renfrew Ogilvy store. For its part, the Royalmount benefits from an overall budget of 7 billion dollars.
Furthermore, according to the businessman, 85% of the luxury goods that Montrealers buy are purchased outside the metropolis. “It means that it’s a Montrealer who goes to New York, Toronto, Paris, London who buys a nice bag or another product and who brings it back,” he illustrates, recalling in the stride that there is also a lot of online shopping.
There are huge economic leaks that we will recover here in Quebec.
Andrew Lutfy, President and CEO of Carbonleo
Thus, after several months of negotiations, luxury addresses will settle at the corner of highways 15 and 40. Louis Vuitton, known in particular for its handbags, will open a store with an area of 9150 square feet. RH, an American high-end furniture company, will set up its flagship store there, its first in Montreal, in a space of 45,600 square feet. To this will be added Gucci, Tiffany & Co., Sandro and Maje. All these shops, among the first to take up residence in this shopping center, will welcome their customers from spring 2024.
“Some of these brands have no knowledge of Montreal, so it took a lot longer [avant d’avoir des confirmations] “Admits the big boss of Carbonleo. “They wondered why they had never settled in Montreal. For some of them, the spaces and the offer were never suitable, he says. Some of these big luxury brands would never set up on rue Sainte-Catherine. Going to the South Shore or the North Shore was not an option either. »
“We always said it would be a major project. We announce names that are world leaders. We are honoring our promise,” proudly asserts Mr. Lutfy, whose project has been the subject of strong criticism.
Andrew Lutfy also ensures that the Royalmount will be within reach of all budgets. “There will also be a much more affordable offer. There will be a nice mix of local and international. »
However, it was impossible to have more details about the future tenants. More names will be revealed over the coming months. The Royalmount will host a total of 170 stores and around 60 restaurants. A 3 km linear park will also be developed there. Offices and theaters will eventually be part of the decor.
With regard to the construction of condos and housing, the question is still not settled. “To date, we have no residential zoning. Residential is in the plans, but we have work to do to get the zoning. »
However, shortly after his election in 2021, the new mayor of Mount Royal, Peter Malouf, had clearly indicated that he was opposed to the residential component of the project. From the beginning, the Royalmount has not been unanimous. Lack of traffic congestion mitigation measures and neighborhood disturbance apprehended by the management of Dollarama, whose warehouses and distribution center are located nearby, are among the criticisms leveled at the project in recent years.
Thus, at a time when all eyes are riveted on the congestion problems caused in particular by the partial closure of the Louis-Hippolyte-La Fontaine tunnel or by other road works, Andrew Lutfy, whose project will be located in an area already very busy highway, recalls having no “control over traffic”.
He also says he is sure to see a good number of visitors going there by public transport. The developers have decided to build a footbridge between the De la Savane metro station and the shopping center.
“The traffic has always existed. Nothing will change, he says. We see no impact on our project. The Royalmount can also act as a retention basin. At rush hour, if you’re stuck in traffic, you can always go to the Royalmount, have a coffee, have dinner, shop. It may be a bit far-fetched… One thing is certain, I am not in control of the traffic. »