René Lépine facts for kids

René G. Lépine (born October 23, 1929 – April 18, 2012) was a Canadian real estate developer and a philanthropist. A philanthropist is someone who gives money and time to help others. Lépine was the leader of Groupe Lépine, a company he started in 1953. This company built and invested in many buildings.

Many people think he was one of the most important French Canadian real estate developers of his time. His companies built over $5 billion worth of buildings in Canada and the United States since the 1960s. He also owned many apartment buildings and shops in Montreal and Ottawa. Lépine built famous buildings in Montreal, like the Olympic Village and Le Sanctuaire du Mont-Royal. He is also known for building the first condominiums in Montreal in 1981. Condominiums are apartments that people own, rather than rent.

René Lépine's Early Life and First Business

René Lépine was born and grew up in Ville-Émard, a working-class area of Montreal. He was one of 10 children in his family. His father worked as a clerk in a hardware store.

Lépine started his very first business when he was only 10 years old. He would collect woodchips from outside a timber factory in Lachine. Then, he would sell these woodchips door-to-door for 10 cents a bag to people who needed them for their fireplaces.

When he was 13, Lépine left school to help his family earn money because his father became sick. He worked in a jewelry factory and also started a business that installed flooring. By the time he was 19, he had saved $4,000. He borrowed another $8,000 from his local credit union and built his first house in Côte Saint-Luc. He sold this house for $17,000 to someone who was just walking by! With the money he earned, Lépine quickly built two more houses. In 1953, he officially started his own construction company.

René Lépine's Career in Real Estate

In 1969, Lépine and his business partner, Lorne Webster, bought a large apartment building called Tour Horizon in Montreal. They paid $3 million for it. In the same year, they bought another big apartment building, Le Cartier Tower, for $6 million. Both buildings had many empty apartments, so Lépine and Webster worked hard to fix them up.

By 1974, Lépine owned or controlled over 1,000 rental apartments in Montreal through different business deals.

Building the Olympic Village

In 1974, the mayor of Montreal, Jean Drapeau, chose Lépine and three other people to build the Olympic Village. This village was a special place for athletes to stay during the 1976 Summer Olympics in Montreal.

Expanding to the United States

In 1978, Lépine made his first real estate investment in the United States. He bought an apartment building in Fort Lauderdale, Florida. Throughout the 1980s, Lépine built many apartment and business buildings in South Florida.

In 1980, Lépine bought an apartment building in Boca Raton, Florida. He changed the rental apartments into condominiums, which people could buy. This project made over $9 million in sales in its first year. By 1985, Lépine's company in Florida was making US$20 million in sales each year.

Developing Le Sanctuaire du Mont-Royal

In 1979, Lépine bought a very large piece of land in Montreal, near the Outremont neighborhood. He planned to build 1,500 apartments there. However, the city of Montreal wanted to turn the land into a park. Lépine argued that building homes would be better for the city because it would bring in tax money.

In 1981, Lépine made a deal with Mayor Jean Drapeau. Lépine agreed to give 20% of his land to the city for a public park for free. In return, the city allowed him to build 725 apartments, and later, 925 apartments with some shops. This project created 2,000 jobs.

In late 1981, Lépine started building Le Sanctuaire du Mont-Royal. This was his biggest project ever, with five buildings and 925 condominiums, shops, and a sports complex. It was the first time condominiums were built in Montreal, and people loved the idea of owning their own apartments. This project was the largest development in Montreal since the Olympic Village. It cost about $140 million to build. Le Sanctuaire was Lépine's most successful project and is often called his greatest work.

Projects in Ottawa

In September 1996, Lépine made his first real estate investment in Ontario. He bought an apartment building in Ottawa, Ontario. After spending $18.5 million to fix it up, Lépine increased the number of apartments and raised the rent. The building was renamed Horizon Tower. The mayor of Ottawa, Jacquelin Holzman, even attended the official reopening with Lépine.

In 1998, Lépine built Sussex House, an 85-unit apartment building in Ottawa. This building was designed for people working for embassies and large companies. He also built Robson Court, a 56-unit condominium project in Ottawa that same year.

Lépine Towers in Montreal

In 1999, Lépine bought an empty building in Montreal from the Montreal YMCA. He tore down the old building to make way for a new project. This was part of a plan with the city of Montreal and the YMCA to improve the area.

Lépine announced he would build two tall apartment buildings, called Lépine Towers, with 340 apartments each. The project cost $80 million. Lépine sold the property to another company in 2005 during the final stages of construction.

Atwater Avenue Property

In 1997, Lépine was interested in buying a property on Atwater Avenue in Montreal, which was owned by the Canadian government. The city of Montreal had a chance to buy the property to protect it, but they said no.

In 1999, Lépine bought the property for $4 million. He planned to build 55 single family homes and 9 condominiums. The main building on the property was a historic monument, and Lépine kept its original structure, turning it into condominiums as part of the deal.

René Lépine's Personal Life

From his early 70s, Lépine divided his time between working in Montreal and living at his other home in Palm Beach, Florida.

René Lépine passed away at his home on April 18, 2012. He had been battling prostate cancer for a long time.