History

The savings and loan crisis in the United States had an impact on the direction Pierre Heafey took. At its peak in 1989, the crisis had a devastating impact on the United States’ real estate market. It was then that Pierre Heafey was able to buy from the Bank of New York a mixed use real estate complex located in Miami, Florida, for $50 million.

The 2.4 million square-foot complex included a 152-room hotel (Doubletree Grand Hotel Biscayne Bay), an 80,000 square-foot shopping centre (The Grand Retail Centre) and 800 residential condominium units. With this transaction, the Heafey Group acquired 472 units and sold them back to investors, most of whom entrusted the Heafey Group with the management of their assets.

Despite the size of the acquisition, the Heafey Group continued to grow by diversifying its investments, in particular through purchase of three St-Hubert restaurants in the Gatineau region, a 182,000 square-foot commercial real estate complex and a 66-room Howard Johnson Hotel in Campbellton, New Brunswick, a 325,000 square-foot shopping centre in Aylmer, Quebec, and a 410-lot mobile home park in Gatineau, Quebec. Furthermore, in 1997, the Heafey Group acquired and managed the 200-room Ramada Plaza Hotel de Hull in Gatineau, Quebec. In 2000, this hotel was sold to foreign investors.

This thrust towards commercial property didn’t dampen Pierre Heafey’s passion for residential real estate. In 1995, the Heafey Group bought from Coopers & Lybrand a 17-storey building located on the banks of the Ottawa River in Ottawa, Ontario. The construction of the building, Commodore’s Quay, had been discontinued following the developer’s bankruptcy. The Heafey Group completed the construction and sold the 115 housing units. Today, Commodore’s Quay has become one of Ottawa’s most prestigious addresses.

In 1996, the Heafey Group also acquired and sold the Saint-Patrick, a 40-unit condominium building located prominently on Grande-Allée in Quebec City.

At the beginning of the new millennium, the Heafey Group once again took advantage of a stagnating real estate market through the acquisition of several commercial properties in Gatineau, Quebec.

Furthermore, the Heafey Group partnered with other real estate developers in the region, in particular Multivesco Inc., for the construction and marketing of a 525,000 square-foot three-phase office complex which is now almost entirely occupied by Public Works and Government Services Canada (PWGSC).

Later, in 2004, Pierre Heafey focused once again on Florida by acquiring and managing two boutique condo-hotels right in the center of high flying South Beach in Miami, the Bentley Hotel (53 rooms) and the Bentley Beach Hotel (95 rooms), the latter now being operated under the Hilton banner.

In 2005, in partnership with one of Canada’s biggest pension funds, the Heafey Group acquired a 300,000 square-foot office building in Gatineau, Quebec, leased by Environment Canada (Place Vincent Massey). The building has since been completely renovated to meet the new standards of the Government of Canada at a cost of $60 million.

In 2006, the Heafey Group acquired two additional St-Hubert restaurants in Ottawa and Orleans, Ontario. Two years later, the Group bought the DoubleTree by Hilton Gatineau-Ottawa hotel in Gatineau, Quebec (formerly known as Chateau Cartier Resort & Spa Hotel), a 128-room resort hotel with an 18-hole golf course.

In 2011, to meet the added space requirements of Public Works as well as Environment Canada, an 110,000 square-foot annex was built beside Place Vincent Massey. Most recently, the Heafey Group, in partnership with Leclair Management, acquired two A-class residential complexes in Jacksonville Florida, (Heritage Deerwood (121 units) and Milestone and Fieldstone Village (160 units)) as well as Majestic at Baldwin Park (171 units) , in Orlando, Florida, in April of 2014. In addition, the Group initiated the development of multiple projects in downtown Gatineau, including the VIU, a spectacular 19-storey residential condominium building overlooking Parliament Hill.

The Heafey Group’s forward determination is constantly extending and enhancing its portfolio of assets in each of its business fields. Indeed, this growth is unfolding according to the principles that have always driven Pierre Heafey since the beginning: healthy diversification and a rapid but comprehensive assessment of business opportunities.

In 2011, in order to meet the growing demand for additional space from Public Works and Environment Canada, a 110,000 square foot addition was custom designed and built adjacent to Place Vincent Massey.

The Heafey Group, in partnership with Leclair Management, acquired two Class ‘A’ residential complexes in Jacksonville, Florida, namely Heritage Deerwood (121 units) and Milestone Village and Fieldstone (160 units). Later, in April 2014, the Heafey Group completed a transaction to acquire the 171-unit Majestic at Baldwin Park project in Orlando, Florida.

The group also built the Viu in downtown Gatineau, a spectacular 19-story residential condominium building at 185 Laurier Street overlooking Parliament Hill. In the mid-2010s, the Heafey Group, in collaboration with Entreprises Marc Dubé ltée, built the Wellington-Eddy (W/E). In 2015, the W/E welcomed its first tenants. Located in the heart of downtown Gatineau, in the Hull sector, the first phase of the W/E includes 137 contemporary condominiums spread over 12 floors as well as commercial space on the first floor. This building is very popular as it is across from Les Terrasses de la Chaudière.

Groupe Heafey continues its expansion with the construction of Viu 2, in the heart of downtown Gatineau. Higher than the first tower, this address will give its tenants the same extraordinary view of Parliament Hill and Jacques-Cartier Park as the Viu 2.

The Heafey Group’s determination to keep moving forward has resulted in the continuous growth and enrichment of its asset portfolio in each of its areas of activity. This growth is accomplished by respecting the principles that have always guided Pierre Heafey since its inception, that is, sound diversification and a quick but thorough evaluation of business opportunities.