downtown real estate development

The history of complexe Desjardins is closely linked with that of both the Francophone population and the City of Montreal. In fact, complexe Desjardins was built during a period when Montreal pulsed to the beat of various large projects, including the construction of the Olympic Stadium, the Mirabel airport, and many other buildings in Montreal's downtown area. Yet, complexe Desjardins is distinctive in many ways, particularly as a result of the originality of its design, the octagonal shape of its towers and the spirit it has initiated.

Origins

The original idea for a multifunctional building for several of the entities that made up the Mouvement Desjardins, which was dealing with the problem of rapid growth at that time, was first launched in the 1960s. But the project only got into full swing when construction work started in 1972. During that time, the Union régionale des caisses populaires Desjardins de Montréal, the Société de Fiducie du Québec and the Sécurité, compagnie d'Assurances Générales du Canada, all three of which belonged to the Mouvement Desjardins, merged with La Sauvegarde, compagnie d'assurance sur la vie of the Desjardins group, which initiated the project. Shortly after that, the Government of Quebec joined the group, making a significant financial contribution. With the arrival of this fifth partner, however, the project took on an entire new dimension. The designers wanted to create a multifunctional building that would house public as well as private undertakings.

The choice of the location for the future complexe Desjardins was subjected to certain well-defined criteria: the future complexe Desjardins has to revitalize a strategic site and make a positive contribution to the urban environment. The firm of La Haye-Ouellet, urbanistes-conseils, proposed a block formed by Jeanne-Mance St., Ste. Catherine St., St. Urbain St. and René-Lévesque Blvd. (known as Dorchester Blvd. at that time). This choice provided an opportunity to contribute to the development of an extended downtown area and ensure better contact between the West and the East sections of the downtown core, while the presence of Place des Arts supported the cultural vocation which developers wanted to give to the entire real estate development.

Concept

	In April 1970, the official design for complexe Desjardins was unveiled at the Montreal City Hall. The entire development, owned jointly by the Corporation immobilière Place Desjardins (51%) and the Société immobilière du Québec (49%), would consist of a basic structure including several floors surrounded by three office towers and a prestigious hotel. The heart of the structure would house a public plaza where socio-cultural and education activities would be held on a daily basis. The building would also include underground parking that could hold up to 1000 vehicles, movie theatres, and a shopping mall with about 100 shops, cafés and several restaurants.
	The project promoters set an ambitious goal for themselves: to integrate a complex that would satisfy the entire range of human needs and contribute to human development into the Montreal fabric. They planned to create a veritable oasis in the city!
	The President of the Mouvement des caisses populaires Desjardins at that time, Mr. Alfred Rouleau, wanted complexe Desjardins to have a soul, which is why the developers chose to include la Grande-Place that was to be multicultural, public and free of charge. Complexe Desjardins was to demonstrate the know-how of the Quebec community and, above all, serve as a physical reminder of cooperation within Quebec.
	Important fact: Mayor Drapeau insisted that someone standing in the middle of complexe Desjardins could see Place des Arts on one side and the bell towers of the Notre-Dame Basilica on the other. This is the reason for the immense glass windows that look out onto René-Lévesque Blvd and St. Catherine St. Since that time, however, Complexe Guy-Favreau and the Palais des congrès have been built, hiding the Basilica.

Unprecedented construction site

	The construction work, which took four years, was supervised by a management firm, Janin Construction Ltée. The project designers opted for a "design-construction" model. As a result, the gigantic construction site was broken down into 150 calls for tender. More than 12,000 workers worked on the site and no unfortunate incident was reported.
	Important fact: All of the firms hired were of Quebec origin and all of the plans, specifications and reports were written in French. As a result, complexe Desjardins was the most audacious undertaking of the Francophone private sector at that time.
	Complexe Desjardins was inaugurated on April 3, 1976, in the presence of the Premier of Quebec, Robert Bourassa, Mayor Jean Drapeau, and some 3,000 guests.

From 1976 to the present

	Despite the skepticism that complexe Desjardins generated in 1976, the following years proved that those concerns were groundless. As soon as it opened, the occupancy rate was 70% and, just a few months later, all of the spaces were leased. Year in, year out, and despite the recession, the vacancy rate remained less than 1%.
	On March 27, 1992, the Fédération des caisses populaires Desjardins de Montréal et de l'Ouest-du-Québec (and affiliated caisses populaires) redeemed the shares which the Quebec government held and became the majority owner of complexe Desjardins. This increased the FMQ holdings from 36.8% to 90.1%, with the Assurance-vie Desjardins holding the remaining 9.9%.
	From 1993 to 1996, Place Desjardins Inc. invested almost $23 M in its commercial sector. Opération Revitalisation was intended to transform the face of the shopping gallery and allow it to open up to the outside, fit in with new market requirements, and take on a more dynamic image.
	In 1998, Place Desjardins inc. elaborated a new investement plan of 36 M$. The plan, spread out through five years, was listed in a vast program to freshen up and improve the building, which would in turn affect la Grande-Place
	Over the years, complexe Desjardins has changed considerably, while preserving the spirit that drove the initial concept. Today, complexe Desjardins is proud of its status as a very important attraction where, since 1976, over 200 free, public activities have been organized every year. After 25 years of existence, complexe Desjardins still personifies the energy that inspired and continues to play an essential role in Montreal life.