Exciting times ahead
Housing New $50-million, 350-home subdivision proves city is engine of N.B.'s economy
SANDRA DAVIS
Telegraph-Journal
SAINT JOHN - A new 60-acre, $50-million east side housing subdivision going up off Old Black River Road is proof that Saint John is becoming the province's economic engine.
Peter Walsh/Telegraph-Journal
In front of the new development off Old Black River Road are, left to right, developers Claude LeBlanc and Guy Lajoie, landowner Shane Berryman, realtor Tim Somerville of Royal LePage Atlantic and landowner and realtor Terry Lockhart.
Contractors, developers and realtors all agree that the city should get set for some exciting times.
Builders Claude LeBlanc and Guy Lajoie, partners in Moncton-based GCL Developments, are building the subdivision's 350 homes, all duplexes.
They travel back and forth to Saint John from their homes in Moncton, where the housing boom seems to be slowing, says Lajoie.
"You're going to see more contractors coming into Saint John," he predicts. "There are a lot of contractors that we talk to in Moncton who are thinking of coming to Saint John.
"There's a demand for houses and the contractors here are already booked solid," adds LeBlanc.
Cottage Hill Estates will celebrate its grand opening today at 10 a.m. and on Sunday, from noon to 4 p.m., a grand open house will be held.
The starter homes are selling for $159,900.
Developer Shane Berryman, who grew up down the road, bought the parcel of land in 1995 after having had his eye on the property for years.
"Our vision is to help a lot of workers coming in here find accommodations," he said.
The project is also using the skills of carpenters and joiners from the Carpenters Training Centre, he said, by offering second- and third-year apprentices on-the-job training. The centre is a non-profit organization owned and operated by the United Brotherhood of Carpenters and Joiners of America, Local 1386, and unionized contractors in the province.
As far as Cottage Hill Estates goes, the city's economic boom wasn't even on Berryman's radar until a few years after buying the property, he says.
"We thought the time to do this was now because there's quite a demand for homes in the area."
His partner, Royal LePage Atlantic realtor and developer Terry Lockhart, joined forces with Berryman in anticipation of the boom.
"There's a shortage coming in the next few years in housing. We need 400 new houses per year to keep up. Now is the time with all of the potential that's coming," Lockhart said.
Lockhart expects interest, which has been steady, will be piqued this weekend.
"There's a demand, particularly for moderately priced homes," he said.
Two families are moving in this weekend. Eight units are for sale - four of those are sold with a strong possibility of two more being snapped up. Another two will be ready to go on the market in a month.
They're 1,536 square feet in area and are "open concept," with three bedrooms on one level and some hardwood floors. All services are located underground.
"A lot of homes in this price range are 30 and 40 years old," said Tim Somerville, a realtor with Royal LePage Atlantic, who is working to sell the homes.
"If you call a builder right now, you may be looking at March and April of next year. We can have a home ready for Christmas."
With inventory down and a demand for homes, Somerville said Saint John is at the forefront when it comes to growth and home values.
"It's a seller's market," he said.
"A lot of people are out there looking for good, affordable homes.
"When you look at the economic boom, at the amount of labourers who will be coming in within the next eight to 10 years, there is no reason to believe that we're not going to keep moving forward."
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....thanks for the update.....
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