Project promoter Louis Massicotte is halving its GéoLAGON project in Charlevoix and now estimates that the four villages it plans to build in Quebec could total up to $1.75 billion, 60% more than it had anticipated.
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In an email exchange with Le Journal last week, Louis Massicotte explained that he would need between $325 million and $500 million to construct each GéoLAGON site, depending on the number of housing units planned.
Barely a few days later, he changed his mind and settled on Charlevoix for $250 million.
PHOTO PROVIDED BY GeoLAGON
At the end of April, the promoter estimated the total project to be between $1 billion and $1.14 billion for the four villages it plans to establish in Charlevoix, Lanaudière, Laurentians and Estrie.
He also claimed that he had already secured this sum thanks to a partnership with a British institute ($1 billion) and French investor Kyotherm ($140 million).
Remodeled project
The developer now announces that the Petite-Rivière-Saint-François project will be significantly modified to conform to the development, converting it from 600 gates with a 120,000 square meter heated lagoon to a 290-unit lagoon hotel.
“We have planned two village models, one in a hotel version in a single building (all chalets are connected by glazed corridors) and the other in a group version of rental chalets,” he wrote to us last week.
He is now opening the door to the construction of three-storey rental chalets, whereas he has always proposed two-storey buildings for these “pavilion chalets”.
In its new version, the GéoLAGON village could have up to three floors in Petite-Rivière-Saint-François. Photo provided by GéoLAGON
On the GeoLAGON website, Louis Massicotte continues to collect pre-reservations just for the double chalet project with a $5,000 deposit.
The “projected” retail price ranges from $599,000 to $1.5 million, depending on the unit.
No permit application
As of this writing, however, nothing is certain about what investors might one day buy. Because no municipality has officially given the green light for the project.
And even if Louis Massicotte reiterates on all platforms that he will certainly formalize two of his four GéoLAGON villages in the target areas by the end of the month, our checks show a completely different reality.
No permit was requested in Lanaudière, but meetings were held in St-Côme.
In Estrie, on May 5th, Louis Massicotte announced the arrival of his project in the Bromont-Granby sector in the local newspaper.
The proponent claims to have made rapprochements with Bromont. However, the town hall claims to have had no contact with him.
As for the Laurentians, on May 10, Louis Massicotte announced on his Facebook page that the planned GeoLAGON in Sainte-Adèle, the only place where he owns land, has no longer taken place.
The project sponsor held talks with the municipality in autumn 2021.
“But nothing serious or structured came out of it.” We didn’t hear anything about it after that,” says Mayor of Sainte-Adèle, Michèle Lalonde.
Louis Massicotte then announced that the project would go to the Mont Tremblant sector, much to the surprise of the Economic Development Corporation of the MRC des Laurentides, who heard the news in a local newspaper on May 12.
“He seems to be walking around looking for the first person to raise his hand,” says Paul Calcé, the company’s general manager, adding that no request was made to local authorities.
Without batting an eyelid, Louis Massicotte says he is still certain “to define by the end of the month the first two regions that will be able to host the first two villages,” he wrote to us.
Remember that the Charlevoix MRC has frozen all developments in the forest zone, which prevents the formalization of a project in Petite-Rivière-Saint-François for the time being. Louis Massicotte says he has a plan B in Saint-Tite-des-Caps.
The project of the year… with 14 others
The promoter emphasizes in his interviews that his GeoLAGON project was named “Initiative of the Year” worldwide by winning a sustainability award in 2022, which would have brought him media coverage in 30 languages.
The marketing man never says that in 2022 there were 14 other companies that won in the same category.
The Philadelphia-based Business Intelligence Group (BIG) presented 104 sustainability awards in 2022, including 15 for Initiative of the Year.
Called for response, Louis Massicotte reiterates that he was unaware that so many other projects were also being rewarded. “Bravo to all,” he commented.
The BIG is a company specializing in organizing various business competitions. Revenue comes from registrations: $799 for each registration.
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