MONTREAL — Major corporations are putting expansion, relocations and long-term commitments on hold, because of the “unstable business environment” caused by the Parti Québécois hotly debated Bill 14, Jonathan Wener said Wednesday.
“The market has definitely gotten softer and a lot of people are putting major decisions on hold. It’s basically a wait-and-see attitude,” the head of Canderel Group of Companies, a national real estate development and management company, said.
Wener is the chairman and CEO of Montreal-based Canderel, which manages 9 million square feet of commercial space and has an additional 2 million square feet of residential development under construction nationally.
“I think it is extremely unfortunate that we live in a society that has reduced itself to thinking it needs language police to preserve its culture — point final,” Wener told The Gazette, in a reference to the Office québécois de la langue française. “I’ve travelled a good chunk of the world and when I talk about the fact that we have language police in Quebec they laugh at me.”
His comments come as the PQ is expected to put the bill to a second reading vote Thursday morning, despite widespread opposition from different groups and a Liberal filibuster.
“It’s reawakened old memories which are just unfortunate because I really felt the most important thing to do was to get on with governing and improving the state of our economy, which needs a lot of work,” he said.
A seventh-generation Montrealer, whose family first arrived in the 1860s, Wener is being honoured Thursday night for his support of the non-profit Segal Centre, North America’s second-largest bilingual multidisciplinary performing arts centre. The Segal Centre has a cultural — and not political — vocation. Despite Canderel’s offices in Canadian cities like Toronto, where it is building Aura, the country’s tallest residential skyscraper, the 38-year-old company still has its headquarters on Peel St. in downtown Montreal.
While Wener’s personal views supporting English rights are well known, Canderel has worked on business ventures with partners of all political affiliations, including the Fonds immobilier de solidarité, which is controlled by the sovereignist-leaning Quebec Federation of Labour. Canderel and the Fonds are still looking for tenants to launch a two-tower office complex with 1.2 million square feet at the corner of Ste. Catherine and Bleury St. in Montreal’s Quartier des Spectacles.
Wener said political uncertainty generated by proposals like Bill 14, may have softened, but not “depressed” a Greater Montreal real estate market. Until recently, the industry was breaking records for prices and new condo construction, at a time when former industrial areas like Griffintown and former downtown parking lots transformed with new developments. Indeed, the Bell Centre-adjacent Tour des Canadiens housing project that Canderel is developing with Cadillac Fairview Corp. Ltd. and other partners actually added two floors in January, after the original 48 storeys sold out at a pace that surprised Wener himself.
“What I was surprised about is that we could do it as quickly as we did in Montreal. We had allowed for a year, we had allowed for millions of dollars in advertising that we never spent,” Wener said. “We were finished in virtually six to eight weeks.”