A first in Canada - $150 million investment in Quebec City condo project allowing Airbnb-style rental

With its new Condos LB9 project, real estate developer Groupe Bolduc is offering the first condominium declaration that specifically allows short term rentals like Airbnb

QUEBEC CITY, June 8, 2016 /CNW Telbec/ - Groupe Bolduc is proud to announce Condos LB9, a brand new real estate development near Quebec City's Videotron Centre representing a $150 million investment. This 12-story project will be a veritable landmark in the Lebourgneuf area.   

This large-scale venture will feature three buildings, one of which will offer the very first condominium agreement that specifically allows any system akin to Airbnb, the leader in peer-to-peer property rental.

The developer is appealing especially to the various levels of government to be more open to the home-sharing economy model, much like the European Commission, which has concluded that the EU's 28 member states cannot "put an absolute ban on activity if the reason for this is only protecting a business model."

Condos LB9 will include three multigenerational 12-story buildings, two of which will have clearly defined uses:

  • One will be a complex with 198 condos for owner-occupants or investors, including businesses and services
  • The other will be a complex with some 250 condos, and the condominium agreement will explicitly allow legally compliant short-term Airbnb-style rental—a first in Canada
  • For the third building, the developer plans to offer an Airbnb-style rentals in a residence for visionary retirees who wish to travel any time of the year.

 

This three-building complex will also house a variety of businesses and services, such as a delicatessen, a cafe, restaurants with terraces, a convenience store, a hair and beauty salon, and a pharmacy and medical clinic.

A number of VIP Wi-Fi–enabled spaces will be reserved for homeowners, including an indoor pool and gym, a lounge for telecommuting or relaxing, a greenhouse where homeowners can grow herbs and sprouts, a spectacular terrace with an unbelievable view of the city, an outdoor fire pit, pergolas, and a barbecue.

The Condos LB9 project with its futuristic, urban design will be located in Lebourgneuf at boulevard Louis XIV and rue des Métis. The developer has retained a number of renowned consultants, including Canadian Airbnb pioneer Dany Papineau, the trailblazer and founder of the airbnbsecrets.com training platform.

With Condos LB9's Airbnb-type clause, homeowners could, of their own initiative, rent their units for a few months each year and occasionally for shorter periods, for example, to cover their annual fees. 

Each owner will be able to take the airbnbsecrets.com training free of charge and receive advice from Dany Papineau, who has amassed more than 2,000 Airbnb host clients all over the globe.

At Condos LB9, home sharing will be completely legal, with each future owner paying all necessary taxes and complying with all laws in effect.

"The groundbreaking Condos LB9 project will be located near the Videotron Centre—a potential NHL (National Hockey League) arena—perfectly demonstrating the global home-sharing revolution," Dany Papineau said. "This visually stunning development in Quebec's capital city is specially designed so homeowners can rent with support from specialized concierge and maintenance services. All investors who are fans of the Airbnb model should keep an eye on the private presale on condosLB9.ca."

Starting at 8 a.m. on Thursday, June 9, 2016, the private online presale will require a minimum deposit of just $5,000 per condo. Prices will start at only $159,000. The developer will double the initial deposits of the first 40 people who reserve a unit, up to a maximum of $20,000 "to share its profits with pioneer investors," thus reflecting a real "sharing" economy as Groupe Bolduc's Denis Bolduc explained.

He went on to add that "our team has developed a magnificent three-building complex that blends in perfectly with the Les Rivières borough and Lebourgneuf, the Quebec City neighborhood that has seen the most growth in recent years. This three-building, 12-story venture owes its convenient location near the Videotron Centre to close collaboration with the City's urban planning and economic development departments."

ABOUT GROUPE BOLDUC
Developers Denis Bolduc and Louis Bolduc are behind numerous real estate projects in Quebec. In the Quebec City region, they have developed, built, or renovated Parc Samuel Holland; Place Samuel de Champlain; Noblet; Hotel Clarendon; Le Bonne Entente hotel; the Val-Bélair-sur-le-Golf development, including the Le Vert Condos and lofts, not to mention Le Vert Mezzanine adjacent to the new LB9 project, financed with the collaboration of Romspen.

 

SOURCE Condos LB9

Image with caption: "Condos LB9 Project (CNW Group/Condos LB9)". Image available at: http://photos.newswire.ca/images/download/20160608_C1088_PHOTO_EN_709461.jpg

For further information: Source and interview requests: BROUILLARD, equipe@brouillardcomm.com, 418.682.6111; Special Advisor and Marketing Strategy, Louis Massicotte, Lm@netcreation.ca

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