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It's seems up in the air whether this generic skyscraper behind the Christ Church Cathedral at St. Cat and Union is a structure that should make our Montreal hearts swell with pride or not.But it undoubtedly makes the Anglicans feel pretty proud, as they deftly maneuvered the deal that made it happen.
Incredibly, it has been 29 years since the Anglicans pulled off a crafty real estate deal in the heart of the city.
The Anglicans purchased the land behind their Christ Church Cathdrale between Eaton's and the Bay - presumably for a low-cost - and then leased it to developers on a 99-year emphytheutic lease for the property.
So the whole shebang - complete with its revenues will revert back to the church in 71 years.
Those landhold-freehold deals are commune elsewhere, notably in Britain, but thankfully for most homeowners here, they're almost unheard of.
And indeed the deal was considered the first of its kind in these parts although it is said that others took note and imitated it.
The church, finished in 1859, saw its diocesan offices demolished and its rectory was moved 15 feet south to allow a 30-storey building (originally slated to be 18-storeys) designed by architect Rene Menkes with the Cooperants Insurance company as the original tenants in 1985.Tourists often take photos of the buildings from the corner of St. Catherine - as seen above - as the vista is supposed to mimic he taller structure.
One odd building at the De Maisonneuve/Union SW corner that was demolished contained a portion of an entirely different design.
It housed a handbag shop and other offices. Someone on flickr said that it was just as bizarre on the inside as out.
By the way, other Montreal structures with emphyteutic leases include the Saputo Stadium, which reverts back after 40 years starting from 2006. The MUHC 1750 Cedar deal is said to have one as well. The Dinasaurium had a 20-year-deal on Notre Dame Island in 1993. One was recommended for the failed Mount Orford deal and one of the school boards has one that confused a few people and led to some tax dispute as I recall.