If you've been through Saint-Joseph-de-Coleraine lately, you've probably noticed. The former caisse populaire is under construction, and it doesn't go unnoticed.

Behind the project are two entrepreneurs from Thetford Mines, Michael Busque and Maxime Leclerc, of Immobilier MBF. They saw an empty, well-located building and decided to turn it into new apartments rather than let it sit idle.

A change of use takes work

I'll be honest: this kind of project is far from simple. Going from a caisse populaire to a multi-unit building means permits, steps with the municipality, and a building to rethink from A to Z.

And then there's the vault. Removing it was a long, hard job. Michael Busque sums it up simply:

"Getting the vault out took several days. It was a job of muscle and calculation."Michael Busque, Immobilier MBF

A non-standard building, tailored financing

A former commercial building converted into apartments falls outside the usual boxes. It's neither an ordinary residential building nor a business that keeps operating. In this kind of file, traditional financing isn't always the easiest path.

This is exactly the type of project private lending exists for. The financing for the conversion is provided by CBA inc., and we support the entrepreneurs throughout the project.

A project the community appreciates

What I find interesting is how people react. Even before the work is finished, curious passers-by stop to see how it's coming along. The project draws attention, and the comments I hear are positive.

What's coming meets a real need: new, low-cost apartments for local people. For a small community, that's something concrete.

Work that's moving fast

Despite the scale of the job, the work will be completed in just a few months. When the permits are in order and the team is well organized, things can move along quite smoothly.

Entrepreneurs working for their community

Michael Busque and Maxime Leclerc are another good example of entrepreneurs who invest in a community and see an opportunity to move it forward. A building that had lost its purpose finds a new use, and families will have a new home.

Do you have a building that doesn't fit the usual criteria, or a conversion project that needs a different kind of financing? Write to me, and we'll look at it together.