St. John NB See’s A Year Over Year 58.6% Jump in Property Prices

Source – atlantic.ctvnews.ca

  • “…April 2020: $169,389 — April 2021: $268,644….The city is gaining momentum. “I see Halifax and a lot of other cities take off and have been on this trajectory over time and we were not, of a sudden now here we go,” Reardon said. “So, I sort of feel like, buckle your seatbelt”

Plenty of Construction in Saint John City Core

By Laura Lyall, April 5, 202

SAINT JOHN, N.B. — You don’t have to go far to see cranes, heavy equipment, and other signs of construction in Saint John’s city core these days.

(Also See: National Price Map @ https://www.crea.ca/housing-market-stats/national-price-map/)

New Conference Aims To Boost New Brunswick's Underdeveloped Urban Music Scene

Several high-profile and large-scale residential developments are now being built in the uptown peninsula amid a surge in demand.

Ground has now been broken on a major mixed-income housing development that’s been years in the making — a 48-unit apartment complex called The Wellington in Saint John’s city core.

“It’s been in concept now for probably about three years and, so,within the last month we’ve began construction on it,” Lisa Keenan, the presidentof Saint John Non-Profit Housing.”We’re putting in a foundation; we’re working away on it and hopefully within 18 to 22 months the building will be complete.”

The corner of Wellington and Union isn’t the only place on the peninsula where you’ll see signs of new residential construction activity.

Just around the corner on Canterbury Street, work continues on a 34-unit complex which is set to open this fall, and construction is also well underway on an apartment building on the former site of the Gothic Arches.

Saint John

Coun. Donna Reardon says Saint John has been in a state of “suspended animation” when it comes to development.

But that, she says, appears to be changing — and the city is gaining momentum.

“I see Halifax and a lot of other cities take off and have been on this trajectory over time and we were not, of a sudden now here we go,” Reardon said. “So, I sort of feel like, buckle your seatbelt.”

In fact, Saint John realtor Jason Stephen says Saint John is due for even more development because, while demand in our region is very high, there is a shortage in supply.

“People have figured out that large high density cities isn’t where they need to be,” said Stephenof the New Brunswick Real Estate Association.”(For) a lot of people how they work is different, so they can work remotely and they don’t need to be in an office in Toronto.”

That’s changing the landscape for New Brunswick’s port city

https://atlantic.ctvnews.ca/plenty-of-construction-in-saint-john-city-core-1.5375759

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