Clermont-Tonnerre Doubles Down To Create A Canadian Paradise
Facing seven-figure losses on his Canadian real estate investments, a French
financier took the unusual step of spending his way out of trouble.
After the financial crisis of 2008, Jean-Francois de Clermont-Tonnerre, then
with private baking group Hottinger & Co, saw his portfolio,
including stakes in Canadian real estate, struggle. Rather than
accepting his losses, selling the land held by the fund off cheap, he
decided to persuade investors to take a huge risk and invest more funds
into his company that was founded in 2010 called Storm Mountain
Development Corp, a housing development firm based in British Columbia. I
approached the investor group and managed to convince them to inject a
further C$15 million said Jean-Francois de Clermont-Tonnerre.
All of the investors were guaranteed a 12% return on their new investment
and would hopefully recover more of their initial investment if the
development worked.
Jean-Francois de Clermont-Tonnerre placed all of his faith into The Foothills development near Lantzville on the east
side of Vancouver Island, but why did he pick this particular location?
He says I have been to dozens of countries in every corner of the world
but the natural beauty that is on show in British Columbia is without
doubt the most awe-inspiring I have ever seen,
Jean-Francois put a lot of emphasis on the growing demand of these properties due to them
being in such a beautiful part of the world. Earlier in this year
another 26 new lots on the 1,838-acre site were released and are they
are selling well. Thus, a majority of investors have received their
money and are now looking forward to considerable profits in the coming
future. “By taking on the risk of developing this project ourselves, our
investors have avoided a fire sale and we have created a great new
community in British Columbia,” Clermont-Tonnerre said.
The Foothills (https://www.thefoothillslifestyle.com/) is an 1838 acre, master-planned community, above are the 9 phases of
the masterplan that has been approved for 731 homes. Phase 1A has only 7
remaining properties left for sale.