iA Financial Group and Immostar Announce the Breaking of Ground on the Alo Ste-Foy Project: 309 New Housing Units in the Heart of Quebec City’s Main Transportation Hub

QUEBEC CITY--(BUSINESS WIRE)--iA Financial Group and Immostar announced today the start of construction on the Alo Ste-Foy project, an 18-story, 309-unit multi-residential complex seeking LEED certification and representing an investment of $118 million. The groundbreaking ceremony took place in the presence of the project partners.

Located directly at the Sainte-Foy transit hub, connected to the tramway as well as the North Shore and South Shore bus networks, Alo Ste-Foy is one of the city’s most strategic densification initiatives.

“iA Financial Group is a proud contributor to the Alo Ste-Foy housing project, which has a strong focus on sustainability, seeking LEED certification and promoting access to public transit. Alo Ste-Foy stands out as a model project in this regard,” said Alain Bergeron, Executive Vice-President and Chief Investment Officer.

Responsible urban densification
The project is located on a site historically used for parking. Its transformation serves as a concrete example of what responsible urban densification can look like: replacing a barren strip of concrete with a dense, vibrant and sustainable living environment that benefits both the neighbourhood and the city.

Alo Ste-Foy offers a rare convergence of transportation options:

• Direct connection to the future tramway
• Immediate access to the North Shore and South Shore bus networks
• A multi-use path connected to the city’s cycling network
• Proximity to a bike-sharing station
• Quick access to Route de l’Église (shops, restaurants and services)

“Alo Ste-Foy proves that you can do life in the city differently: better connected, more efficiently, without compromising on quality of life. Here, we’re creating a living environment that simplifies daily life and fits seamlessly into today’s urban reality,” said François Pelchat, a partner at Immostar.

A living environment designed for today
Alo Ste-Foy offers a high-quality living environment, designed to meet today’s needs, featuring optimized, bright and functional units ranging from studios to three-bedroom apartments.

The architecture, both modern and timeless, blends harmoniously into its surroundings, while the building features a sustainable design, including a high-performance building envelope and green roofs, even in a dense urban setting.

The common areas were designed to enhance residents’ daily lives by providing spaces for relaxation, work and socializing that are tailored to modern lifestyles.

The project is seeking LEED certification, reflecting a responsible and long-term approach.

Construction began in April 2026, and the first units are scheduled for delivery in June 2028.

About Immostar
Based in Quebec City for over 20 years, Immostar is an integrated real estate developer, property manager and investor, recognized for its ability to create sustainable value at scale. Active in the commercial, industrial, multi residential and office sectors, the company develops and manages a diversified portfolio of strategic assets representing more than $1 billion in real estate holdings across Quebec. Immostar stands out for its rigorous, innovative and forward looking approach, designing eco friendly, sustainable and smart projects that actively contribute to the evolution of living environments.

About iA Financial Group
iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares).

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