Former Montreal mayoral candidate Marcel Côté is dead at the age of 71 after suffering a heart attack Sunday morning.

Côté was taking part in a bike race in the Lanaudière region this morning. He was rushed to an area hospital and  pronounced dead at 11:15 a.m.

An economist and founder of the SECOR management consulting firm, Côté led the Coalition Montreal party a fourth place finish in the 2013 municipal election.

In an interview with CBC's Daybreak, Côté said he believed the city's economy could be rebuilt on its creativity and knowledge.

'If this metropolis is shining again well it's also because of Marcel Côté. He was a man of ideas; He was a visionary.' - Montreal Mayor Denis Coderre

"If we learned how to manager our linguistic duality better, if we built on our strength, our city has the potential to be the most creative city in the world," he said.

At a news conference early Sunday evening Montreal Mayor Denis Coderre said he would speak to the Côté family about planning a civic funeral.

"He's done so much for his province, for his country, for his city, and until the last minute he was always there to put the metropolis on the map," Coderre said.

Remembering his political colleague, the mayor said he was happy the two could put aside their differences after the election campaign and work together for the common good of the city.

"I think it sent a clear message of a change of culture," Coderre said. "If this metropolis is shining again, well, it's also because of Marcel Côté. He was a man of ideas; He was a visionary. We will miss him deeply but we will make sure that nobody will forget his memory."