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  #4381  
Old Posted Aug 25, 2024, 12:40 PM
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Siriusb Siriusb is offline
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Originally Posted by Siriusb View Post
Empire Development - Apartment #2

The elevator shift is being added, then the steel will go
up for this second apartment building.

UPDATE

Most of the steel is up. It didn't take long.

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  #4382  
Old Posted Today, 12:55 PM
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Siriusb Siriusb is offline
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Originally Posted by TGK View Post
........I’m beginning to think developers here are actually real estate holders who buy up land, hold it while they have it all rezoned, then go shopping for a buyer. That’s exactly what Stratford’s Crossroads project is all about…watch and see.
Jeers:
The 503 University Ave Gray Group apartments are probably a no-go. The project isn't even listed on their web page. Looks like we all, along with city hall, have been reeled in. Anyone hear anything on this!
They aren't the only ones that are very slow on the startup list. Bevan apartments on North River Rd probably won't be built. Sherwood Crossing, half of the city of Charlottetown will be dead before it gets underway. Porthouse, forget it, it won't be built as far as I'm concerned! APM is one of the worst!!
Another is the Calvary Church project, it's slower than the second coming of Christ.

Koodos:
To Empire Developers and to Arsenault property management and developers for being on the ball, and to Speer in Stratford. Also the company building the Hidden Valley development. Well done to you all to meet the ever growing need for housing!! I'm sure I have left some out but we salute those pushing forward.
We'll see how the 145 Great George St project goes! So many proposals, most approved, and so many slow to start!
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  #4383  
Old Posted Today, 6:01 PM
Monctoncore Monctoncore is offline
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Quote:
Originally Posted by Siriusb View Post
Jeers:
The 503 University Ave Gray Group apartments are probably a no-go. The project isn't even listed on their web page. Looks like we all, along with city hall, have been reeled in. Anyone hear anything on this!
They aren't the only ones that are very slow on the startup list. Bevan apartments on North River Rd probably won't be built. Sherwood Crossing, half of the city of Charlottetown will be dead before it gets underway. Porthouse, forget it, it won't be built as far as I'm concerned! APM is one of the worst!!
Another is the Calvary Church project, it's slower than the second coming of Christ.

Koodos:
To Empire Developers and to Arsenault property management and developers for being on the ball, and to Speer in Stratford. Also the company building the Hidden Valley development. Well done to you all to meet the ever growing need for housing!! I'm sure I have left some out but we salute those pushing forward.
We'll see how the 145 Great George St project goes! So many proposals, most approved, and so many slow to start!
I think a lot of it has to do with the costs. I think a lot of these developers are watching for another rate drop and costs to come down a bit more to make it financially viable.
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  #4384  
Old Posted Today, 7:03 PM
Ifyoubuildit Ifyoubuildit is offline
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Originally Posted by Monctoncore View Post
I think a lot of it has to do with the costs. I think a lot of these developers are watching for another rate drop and costs to come down a bit more to make it financially viable.
What are you suggesting, that developers aren’t making money hand over fist on these projects like the CBC reports or implies almost weekly? I thought the CBC was unbiased and completes thorough research on all of their statements? Sarcasm aside, everyone suggests projects have slowed due to construction costs and interest rates, these are definite factors, but no one ever points out property taxes. They are out of control and government never gets pulled into these discussions as being one of the greatest limiting factors. A developer recently told me that property tax on a per unit basis are now reaching $5-6,000. That tax hurdle has to be overcome before a project can even service its debt. Maybe the CBC needs to not always focus on the big bad developers but rather government!
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  #4385  
Old Posted Today, 10:39 PM
Monctoncore Monctoncore is offline
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100% agree! I’ve said that before in other posts in the Moncton Threads. You can use the study done in Moncton by I forgot his name now, that mentioned some places rents could be $200-$600 cheaper depending on if the taxes were cut or eased a bit.
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  #4386  
Old Posted Today, 11:17 PM
jonny golden jonny golden is online now
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You can use the study done in Moncton but I forgot his name now
Bill Hennessey. Here's the news story:

https://www.919thebend.ca/2024/05/07/75070/
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