BLAINVILLE, QUE. — Quebec pension fund investor the Fonds immobilier de solidarite FTQ has announced the imminent completion of an indoor riding arena in Blainville, Que.
The project is being undertaken in partnership with real estate developer Medifice, noted a recent release. The new arena is expected to open this month.
The new building forms part of an expansion plan for the city’s Village equestre. The 20,200-square-foot facility includes an indoor riding arena, an observation room and a storage room. Built next to an equestrian park, the elevated structure will consist of a steel column-free arena with translucent ventilation panels to provide lighting suitable for horses, appropriate heating to ensure their comfort and sanitation facilities, said the statement.
The Fonds immobilier will maintain the arena structure while the city will be a tenant and undertake routine maintenance.
“The riding arena will be a central element of the Village equestre, which will enable the Poney Club to operate year round. Thanks to a formula whereby the city signs a lease with the Fonds immobilier de solidarite FTQ and its partner Medifice, as permitted under the Cities and Towns Act, Blainville families and horse-riding enthusiasts will very shortly have access to a quality infrastructure, acquired without financial risk,” commented Blainville Mayor Richard Perreault in the statement.
As of May 31, 2018, the Fonds immobilier had 46 projects worth $2.9 billion in progress, 50 properties under management, two million square feet of land for development and $76.3 million allocated to affordable, social and community housing.
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