A new 175-meter (574-foot) residential tower, dubbed L'Avenue, for downtown Montreal is in the planning stages. The tower, which consists of three carved, rectilinear elements, would be the tallest residential building in Montreal.

The tower will contain 50 floors, including space for shops and restaurants on the first and second floors.

L'Avenue's 350 condominiums will range in size from 500 to 1,500 square feet (46.5 to 140 square meters) and will sell for rates beginning at CA$250,000 (US$245,000).

Developer the Broccolini company acquired the land in February 2012 for $14.1 million, according to local media. The total project investment is reportedly worth CA$200 million (US$196 million).

"According to a report released by the city in April, there are 10 other new large scale [residential] projects planned," Commercial Property Executive reports.

Find a list of Montreal's tallest buildings here.