Quebec-based real estate developer Groupe Bolduc has announced the development of the first condo project in Canada to specifically allow short term rentals like Airbnb. Most condos in the nation do not permit short term rentals.
The company is investing $150 million in the project, titled Condos LB9, which will comprise three 12-story buildings in Quebec City’s Lebourgneuf area.
In its release, the developer states it is “appealing especially to the various levels of government to be more open to the home-sharing economy model.” It references European Union industry commissioner Elzbieta Bienkowska’s recent warning to the EU’s 28 member states, in which she cautioned: “You cannot put an absolute ban on activity if the reason for this is only protecting a business model.”
The three planned buildings each have slightly different stated uses. One will be a complex for owner-occupants and businesses. Another will offer agreements that explicitly allow short-term rentals. The last building will be targeted at “visionary retirees” who wish to travel at any time while renting out their condos Airbnb-style.
The group lists Airbnb entrepreneur Dany Papineau as a consultant for the project. Each owner, the release states, will be able to take Papineau’s airbnbsecrets.com training free of charge.
The pre-sale for these units starts immediately, June 9th, requiring a minimum deposit of $5,000. Full prices start at $159,000.
Related reading: New Airbnb app feature suggests rentals based on your preferences