Adding Density to a Development Project with Axel Monsaingeon

The Very Real Estate Effect Investing in Quebec

Have you ever faced unexpected challenges when pursuing a real estate project? In this episode, I share an update on my ongoing development in Verdun, where I navigate the complexities of building permits, zoning changes, and project financing. What started as a plan for a 16-unit building with commercial space has evolved into a six-floor, 43-unit residential project with underground parking. The journey highlights the importance of adapting to city requirements and collaborating with various stakeholders to meet development goals.

I discuss the hurdles faced, from redesigning to align with city zoning changes to balancing project costs and finding partners for financing. The lower interest rates have provided some relief, but challenges remain in meeting profitability expectations. Through interactions with city officials and learning from experienced developers, I’ve gained insights into the evolving regulations and how they impact project feasibility.

This episode is a testament to the resilience required in real estate development. It underscores why patience, strategic planning, and strong relationships with city authorities and partners are essential. Stay tuned for more updates as I continue this ambitious project and share lessons learned along the way.

What you will learn if you listen to the episode:

- Real estate project challenges and solutions

- Building permits and zoning changes in real estate

- Expanding a real estate project from plan to execution

- Financing and finding partners for property development

- Importance of adapting to city rules for real estate success

- Benefits and impacts of lower interest rates in real estate

- Lessons on patience and planning in real estate development

SUPPORT US ON PATREON!

patreon.com/realestateeffect and become a part of our real estate family! You’ll get access to exclusive content, monthly virtual meetings [Ask me anything!], special events, and more!

And please subscribe to the show, share it with a friend and send us feedback. Visit www.realestateeffect.ca and follow me on IG @monsaxel

Timestamps:

📜 Securing building permits and facing zoning changes (02:15)

🏗️ Expanding the project to 43 units and adding commercial space (05:10)

💰 Financing challenges and finding partners for development (07:45)

📉 Impact of lower interest rates on real estate projects (10:05)

🤝 Working with the city and adapting to new regulations (12:30)

🏁 Lessons learned and future plans for the project (14:50)

Connect with Axel Monsaingeon:

Linkedin - https://www.linkedin.com/in/axel-monsaingeon-42577b28/

Website - https://www.realestateeffect.ca/

Facebook - https://www.facebook.com/realestateeffect/

Instagram - https://www.instagram.com/veryrealestateeffect/

Youtube - https://www.youtube.com/channel/UCc8EYrmO1aVvVIgwT7AfNFw

Do you have any questions about your real estate journey?

Whether you're curious about navigating the complexities of development projects, dealing with financial challenges, or anything in between, I’m here to delve into the topics that matter most to you.

I invite you to submit your questions by visiting our website at https://www.realestateeffect.ca/ and clicking on the 'Send Voicemail' widget on the right side.

Your inquiries will help shape our upcoming episodes, ensuring we cover the real estate issues you're most interested in.