Quote:
The unique thing about this hotel will be the public has the opportunity to own it. Any person or company paying Newfoundland and Labrador income taxes can purchase a condo unit, thus buying a share of the project. . . .
The Government of Newfoundland and Labrador’s resort property investment tax credit gives the investor of Steady Brook Inn hotel condo a tax credit of 45 per cent of the purchase price.
|
That is a great location for this development, but if ownership is restrictive I wonder how well it will work as an investment opportunity.