After the announcement of the construction of a geothermal lagoon in Sainte-Adèle, in the Laurentians, promoter Louis Massicotte is doing it again with another project of the same nature, but on a larger scale, representing a private investment of $300 million. , in Petite-Rivière-Saint-François.
• Read also: A promoter dreams of a blue lagoon in the heart of the Laurentians
The founder of the geoLagon plans to build 300 double rental chalets, in addition to a geothermal lagoon with an area of 120,000 square feet in the open air which will be heated twelve months a year at 38°C.
The start of construction of the first phase is scheduled for winter 2023. This provides for 150 Airbnb-type double residences. Each residence will allow the buyer to live in one part and rent the other part. The units will have a connecting door between the two.
The Petite-Rivière-Saint-François project will run parallel to that of Sainte-Adèle, where the developer and his team are currently completing the studies requested by the municipality.
Seeing the strong demand for cottage rentals, Mr. Massicotte wants to work twice as hard to develop his geoLagon concept, inspired by the famous Blue Lagoon. In addition to the Laurentians and Charlevoix regions, the businessman plans to build other sites in Estrie and Lanaudière.
“We want to network. We freeze the land right away and we’re going step by step. […] We want to establish our market, ”he told the Journal.
The business model appeals to investors, many of whom, he said, have shown interest.
The second phase will consist of the construction of a geothermal lagoon for which Mr. Massicotte is in demand at the patent office in Washington. It will be powered by three different renewable energy sources.
Finally, the third phase of the project will include a village of 150 double chalets which will allow investors-owners to operate short-term rentals 365 days a year and which will require a larger down payment.
Beyond the acquisition price of the double land in co-ownership at $299,000, the chalets are currently planned from an estimated price of $500,000 for two adjoining chalets, plus taxes, with respect to units of the first phase.
According to Mr. Massicotte, more than 2,500 investors have registered to acquire a chalet around the lagoons he plans to build. Phase 1 of the Charlevoix project reached 20% presale in a few hours, he let it be known.
Construction of the lagoon will begin when the first 150 lots are sold.
The choice of site
The new site is located on Route 138, opposite the intersection of Principale Street which leads to Club Med de Charlevoix.
Mr. Massicotte has traveled the planet to develop his geothermal lagoon concept. The project, which is set to become a world-class attraction, will be self-financing through real estate cash flow. The promoter anticipates economic benefits of around $100 million per year.
The mayor of Petite-Rivière-Saint-François, Jean-Guy Bouchard, welcomes the realization of this development.
“We were very attentive when Mr. Massicotte told us about it. From the outset, it is a project that is magnificent, as we were able to see during its presentation. It is well located. It’s a very appropriate place for this type of project,” he said.
“Now there are all the stages of municipal regulations. These are conditions that we issued to the promoter while being enthusiastic about a project like this which is in itself innovative,” added Mr. Bouchard in conclusion.
