Yesterday, CBC/Radio-Canada and its partners officially signed agreements for the two main components of the Maison de Radio-Canada (MRC) redevelopment project: the construction of the new broadcast centre in Montreal; and the sale of the existing building and lot, enabling the revitalization of the site in the city’s Centre-Sud neighborhood.
“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.
CBC/Radio-Canada is transferring the eastern part of its lot to Broccolini Group for one dollar, as part of an overall transaction for the construction and leasing of the new MRC on this parcel of land. The agreement ensures that CBC/Radio-Canada can lease its new facility for the next 30 years at a stable annual cost equivalent to its current maintenance costs, which amount to $21 million per year. The public broadcaster can thus avoid the risks inherent in managing real estate assets. Preliminary work for the construction of the new MRC will begin on August 7, with the new facility due to open in 2020.
CBC/Radio-Canada is also selling its existing building and the western part of its lot to Groupe Mach for $42 million, after adjustment. This allows the public broadcaster to offload an accumulated maintenance deficit on the tower equivalent to $170 million. The agreement also contributes to the site’s redevelopment in line with the priorities that emerged from consultations with the community. Work on the tower and site will not begin until after the move into the new facility is completed in 2020.
“Today’s announcement is the culmination of months of hard work by a large number of people both within CBC/Radio-Canada and our promoter partners,” added Hubert T. Lacroix. “I sincerely thank them for their effort.”