Quote:
Originally Posted by bingun
Envision Saint John updated their dashboard, and I was having a browse through the different statistics today and am really impressed with it. The Real Estate section is probably the most relevant to this forum; some highlights below.
I am still shocked by how much housing prices have risen in Saint John. I am starting to forget how cheap they used to be.
I also found the warehouse vacancy information really interesting, at just over 2% for Saint John. Moncton still dwarfs Saint John in total capacity, but at that low vacancy rate, you would think there would be some interest in new warehouses. I think it will take decades for the office side to recover to healthy levels.
https://www.envisionsaintjohn.com/dashboard
Building Permits & Housing Starts
SFH Prices
Sales & New Listings
Office/Warehouse Vacancy Rates
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How much more evidence does Ravelin need (office vacancy rates) before they seriously look at converting a huge chunk of Brunswick Square office tower to residential? Such could be the type of project qualifies for discounted government financing or even government funding, depending on the type of housing they'd be converting it to.
Adding hundreds of residential units to the Brunswick Square tower could certainly help breathe new life into Brunswick Square Shopping Centre below.
If they put forward a plan soon and obtained government support, we could see people living at Brunswick Square tower well before they top out any of the high rises at Fundy Quay. Heck, if Ravelin put forward a
reallyambitious with proposal, we could see Brunswick Square become the first 30+ storey building in New Brunswick, well before the Infinity Tower in Moncton is topped out.
