Quote:
Originally Posted by hokus83
Does any expect thy'll be anymore major development proposals in the next few years or do you think what there is now and the rumors of a few other proposals will be the last we'll have for the next few decades. Does development come in spurts in Halifax like a small a amount once every 20 years?
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I keep reading "no cranes for 20 years" type canards in the media but they're untrue. There has been a steady stream of residential projects in the urban core since 2000 or so. For example, around 2000 there were buildings like Garden Crest and the Waterford and around 2004-2005 there was the Martello and Paramount. Even if you don't consider Spring Garden Road to be downtown, there have been buildings like the Marriott hotel on Sackville Street. There was also a new office building that went up on Market Street around 2001 and a few of the residential towers have contained small amounts of office and commercial space.
I have a feeling the residential buildings will keep coming because the city is still growing and urban living is becoming more and more attractive.
Office buildings do seem more cyclical. Apparently a bunch of these proposals are coming forward now because the leases for the banks are running out. I don't think this pace of office development is sustainable, although it's hard to predict what will happen in the future. Halifax's economy is predicted to be much stronger in the coming years than it was back in the 1990's when there was relatively little construction.