Three Rivers Tries to Bolster Housing Stock
A recent bid to rezone rural land to bring as many as 35 new homes to Three Rivers is a testament to Southeast New Brunswick’s hunger for housing.
A recent bid to rezone rural land to bring as many as 35 new homes to Three Rivers is a testament to Southeast New Brunswick’s hunger for housing.
30 apartments are on the way at MacAleese Lane in Moncton, despite objections from nearby homeowners.
Building permit value has passed $300 million.
Developer John McManaman has pre-leased a third of the apartments in The Tides – one of several apartment buildings he’s bringing to Riverview.
This increased value demonstrates the strength of the housing market and the growth of the population continuing through the pandemic.
Nova Scotia companies Crombie REIT and Clayton Developments are partners in the development of 25 acres of land where the old Penhorn Mall once stood on Portland Street.
Residential developments made up half of the building activity last year at $133.6 million, offsetting a slow down in the commercial sector.
Commercial building activity slowed considerably in the second quarter, but the city issued $41.9-million worth of building permits for residential projects.
The garage, located on the corner of Canterbury and Grannan Streets, will be redeveloped into The Telegraph, which will house 32 residential units and street-level retail or commercial space.
The CG Group plans to begin construction this summer in an area of the city that continues to grow.