Quote:
Originally Posted by cdnguys
I think there is enough demand for a couple high end buildings. And no, 99 King not a high end place. There are thosands of KV residents who are within 5 to 10 years of retirement with kids no longer home, who had their home value triple or quadruple in value who will want amenities and culture/restaurants in the next phase of their life.
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I think many boomers coming back to SJ from KV would rather live in a suburban area like the West Side than Uptown Saint John. There’s all kids of opportunities to build nice high rise buildings over the West Side… Island View Heights, Churchill Heights, Greendale, Randolph, Milford, and the entire coastal strip from Bayshore to Lorneville, there’s all kinds of room to squeeze in some nice mid rises and high rises that boomers selling their nest egg could either afford to purchase or rent.
I don’t think many soon to retire KV boomers want to live a hyper walkable lifestyle Uptown or envision themselves walking to the grocery store every day like Europeans… although, I wish they would. Going from 20 minutes drives into the city to 5-10 minutes anywhere in the city will be quite a change for many, and the influx of boomers with disposable income would bring about new amenities, culture, and restaurants that the West Side is lacking. Many of them moved to KV from the West Side too.
Compared to Uptown, most of the West Side hasn’t seen any sort of crime and homelessness problems like Uptown has. There’s some sketchy parts of the the lower west side still, and the Belyea homeless shelter was an unmitigated disaster, but it’s still nothing like what has happened Uptown regarding the rise of crime and the homelessness and addictions epidemic. Also, the seagulls are like 100 times nosier Uptown than they are on the West Side.
If The Fundy Region is compared as a microcosm to the Bay Area… boomers from the valley aren’t selling their homes to buy apartments in downtown San Francisco. Uptown Saint John obviously has nothing on Downtown SF in terms of homelessness, crime, and drug addiction, but it’s still a raising concern.
Until we see a big improvement, I think most boomers looking to sell their nest egg and downsize to a smaller two bedroom condo or an apartment in the city would rather live in Saint John’s suburban communities. Saint John has an opportunity to devise a strategy to get more mid rises and high rises built before these thousands of KV boomers retire, while their communities remain largely opposed to mid rise and high rises going up in their communities.
It shouldn’t be that hard to market condos and apartments in mid rises and high rises. Imo, they’re way more desirable than the average garden home which is all the rage here in SJ, because they’ll have better sound proofing, they’ll have better views, and they’ll create denser, more vibrant communities.
Obviously, there’s lots of room for residential development on both sides of the harbour… hopefully enough occurs to eventually bring the harbour ferry back one day.