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Originally Posted by bingun
The Saint John penal colony headquarters  .
The lack of balconies is going to kill them. Between that, the prices, the appearance, and the slowdown in immigration, I don't think they are going to be able to rent the non-subsidized units.
If I have a high budget for a rental, why would I live here over Fundy Quay, one of Historica's apartments, or one of the nice rental buildings in Millidgeville?
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If it has a grocery store on the first floor, and underground parking, it could be worth renting there, especially for people without cars. Even if the commercial space isn't something as in demand as a grocery store, this is still an exceptional location in the heart of the city. But yeah, I don't think they will be able to rent the non subsidized units at the price they want... they will have to significantly lower the price considering this is going to be one of the ugliest and tackiest apartment buildings in Canada.
I think it's embarrassing the GNB has to be involved with partially funding and financing crappy projects like this at all instead of just funding the construction of entire apartment buildings bigger and better than 99 King... At least those 32 subsidized units are one of the few good things to say about this project.. so I guess it's better the GNB did get involved with this project in the end. I'd just rather see the government build some better projects in our city centres.
If NB Housing made it a goal to put up a dozen high rises with affordable rents across the city centres of the big three over the next decade (a long with low rise and mid rise infill projects) we could build our way out of the housing crisis, like the PM says we should, and continue to pursue higher levels of immigration and demographic growth which the province needs to keep up these new levels of economic growth and development.
Low housing costs have been one of NB's biggest pull factors... I think it would be prudent for the province to think long term, and not just think about how do we fix the current housing crisis, but rather, plan for the province to be 1 million+ people and more aggressively pursue policies that attract new residents. Part of this has to be making NB more friendly to property developers, and giving private developers incentives based on the size and scale of their projects, but the province also needs to play a bigger role in expanding the supply of publicly owned affordable rental housing.
Imo, the best way for the province to do that is to massively invest in our cities, all of which deserve projects nicer than 99 King. So far Moncton is the only city in NB that's putting up any decent residential high rises... hopefully Fundy Quay's high rises live up to the renders... but if there's any hope in hell of all those buildings getting built as seen in the renders, our local band of Rothesayites will likely have to go begging to the feds and province for a lot more money.
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