There is apparently
no March meeting for the Moncton PAC.
This is a little disconcerting. We are used to having 2-3 interesting proposals presented to PAC on a monthly basis, and this has been for at least the last 3-4 years or so. So far this year, I recall only
one interesting proposal over the course of three months.
I wonder if there is a reason for this? Are we simply entering a catch-up phase as far as development is concerned? Certainly the queue contains a number of interesting projects that could potentially begin over the next couple of years.
Or, is there a growing concern amongst developers over supply chain issues and labour shortages. Are skyrocketing assessment values and the double property tax making any new developments unprofitable? We certainly seem to be hitting a new era of inflation and rising interest rates. Even global instability might be having an effect on developers psyches.
I wonder if there s anything going on here? This would be tragic if true. Certainly the need for new housing in the city is more dire than ever before. We need to be prepared to support our development community............