Quote:
Originally Posted by OliverD
Are land prices really that low in SJ? I'd expect to pay ~$400k for a serviced lot that could house 30 units in Fredericton.
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Quote:
Originally Posted by nwalbert
It looks to me like 73 Elliot could have some really good potential for multi-unit development. What do you think the value would be closer to?
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It's three lots, none of which touch each other, over a block and a half, on arguably the worst street south of Union. In its favour, proximity to JDI is a plus, and like you said, the lots are serviced. A reasonable price would be $5-7K a door seeing as you'd have to have three distinct plans, sets of permits, and so on.
If they were adjacent to each other, yeah, a higher price would be warranted. But definitely not more than $10K a door.
I grew up there! Across the street at 70.
Most importantly,
Irving is parting with disused South End land. That's the news! Are we sure this wasn't just land owned by someone else, that they leased for parking?