[Halifax] The Maple | 72 m | 21 fl | Completed

[someone123]

Originally Posted by connect2source

I'm shocked at how high the rental rates are for Halifax, the one beds are close to what we pay in Vancouver for a condo-style newer high-rise apartment.

It is important to consider buildings that are comparable. This is a brand-new building right in downtown Halifax. A comparable building in Vancouver would be a new building right downtown or in an area like Coal Harbour. Those places can be super expensive.

I helped somebody hunt for apartments in downtown Vancouver a couple years ago and studio or 1 BR places were in the $2-3k/month range for modern but not new buildings. A comparable new building like the Maple in Vancouver might be the Capitol Residences. I am seeing 1 BRs there for $1950 and 2 BR 2 bath for $4600/month (there seems to be a lot more competition for the bigger units, understandably).

Originally Posted by fenwick16

How do Halifax-area renters manage to pay these rates? It must cut into their food and entertainment budgets. Perhaps they do it by not owning cars?

I'm guessing this building will mostly be for well-paid professionals and wealthy retirees at first, not the normal mix of people with average incomes, students, etc. that you find in most apartment buildings. Eventually, newer and fancier apartments will be built and these ones will come down in price. It's no different from how housing is unaffordable in South End Halifax. Most people have to look elsewhere. It's important to ensure that everyone can afford housing, but not everyone will be able to afford every building or neighbourhood.