Quote:
Originally Posted by MonctonRad
This is the latest in a growing number of clusters of apartment buildings being built or proposed around the metro area (west end of Mountain Road, Twin Oaks, The Junction Urban Village, Dieppe Blvd, Mapleton Park Place, even 20 Record Street). Is there enough growth in the city to justify all this proposed increase in rental capacity????
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The market is hot. According to
CHMC, overall the CMA had a 2.6% vacancy rate in October. If surge in apartment construction is outpacing the growth in demand, we'll either see a decrease in rent due to competition, or some of these projects will be shelved or cancelled.
This happened a few years ago, albeit to a smaller scale. Big spike in construction followed by a few years of lower numbers until demand caught up.
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