New Moncton Apartments Are Filling Fast, As Construction Continues
MONCTON – Demand is so hot for the Multi-Unit Property Management (MU) apartments on Mountain Road that the company has had to stagger the pace at which tenants are moving into the first of two towers that’s under construction.
President Pierre Collette said the first tower of the North Point Estates development is already at 65-per-cent occupancy after the company began accepting applications, following a “soft opening” earlier this month.
Collette expects the first tower at 2251 Mountain Rd. to be fully occupied by January 2022.
Dieppe-based MU slowed and staggered the pace of move-ins for the first tower, allowing only 10 to 12 to move in per week, avoiding Covid-related risks.
Colette told Huddle that MU has been anticipating a surge of foot traffic after watching MU’s other projects quickly fill with crowds of tenants moving in, pre-Covid – a level of traffic that’s a no-go in a pandemic.
“We didn’t want the lobby to crowd up, because the first month is just everyone coming in, buying furniture, getting groceries – it’s just so much traffic in and out of the building,” Collette said.
“We can only take so many people at a time, and process so many applications at the same time.”
North Point Estates is one of many multi-unit apartment complexes in MU’s portfolio, which includes the nearby four-tower Diamond Head Estates development in North Moncton, Riverview developments that include the recently-finished Runneymeade Estates and Sugarloaf Estates down the road – and LVGR Sorbonne in Dieppe.
Construction, subcontracted to Beaubassin East-based Patton Construction Ltd., is ongoing on the second tower, which is expected to open in late winter or early spring of 2022. Forthcoming siding and minor architectural details aside, the first tower is finished.
Collette told Huddle he’s pleased to be catering to ballooning demand for rental accommodations in Greater Moncton.
“The demand is there. Basically, I say to friends and family, we can build another 500 units,” he said.
North Point Estates offers one and two-bedroom, ranging from 780 to 1,220 square feet, with rents ranging from $1,255 to $1,825 a month, depending on the floor. Colette noted it’s one of the few apartment buildings in Moncton to feature two tiers of underground parking, features luxuries like granite countertops and walk-in closets.
When complete, the two new apartment towers will add a total of 150 new apartments into Moncton’s housing stock.
Sam Macdonald is a Huddle reporter in Moncton. Send him your feedback and story ideas: [email protected].
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