Posts Tagged ‘Brunswick’

Posted by Moishe Alexander

16 new accessible and seniors apartments were announced today by the provincial and federal governments. The new Quispamsis units are funded under Phase III of the Canada – New Brunswick Affordable Housing Agreement.

New Brunswick Social Development Minister Kelly Lamrock, also the Minister responsible for Housing, and Saint John MP Rodney Weston announced the $1.8 million project at Ken-Val United Church Suites today.

“We are pleased to collaborate with our partners to provide affordable living for low-income seniors, and to those who have accessibility needs in the Quispamsis area,” said Lamrock. “Affordable housing is part of this government’s efforts to ensure that we provide New Brunswickers with a quality, energy-efficient place to call home. ”

The housing units are being developed by Ken-Val United Church Suites Inc, a non-profit corporation. The project is receiving $480,000 in funding under the federal Affordable Housing Trust to offset construction costs, as well as just over $1 million in rent supplements from the Province of New Brunswick.

“This is great news for seniors in the Quispamsis area,” said MP Weston. “These new apartments will help provide more options for seniors in need of suitable, affordable housing and they will also contribute to the economic and social well-being of the community.”

MP Weston spoke on behalf of Diane Finley, Minister of Human Resources and Skills Development Canada, and Minister responsible for the Canada Mortgage and Housing Corporation (CMHC).

Funding is available to private non-profit organizations, co-operatives, and community or private developers interested in developing projects for low- to moderate-income families, seniors, non-elderly singles, disabled persons and persons with special needs.

Ken-Val United Church Suites is being built to high energy-efficiency standards, and the developers have involved consultation with Efficiency NB. Builders of affordable housing projects for low-income individuals may receive an incentive of $2,000 per apartment unit if the building is heated by low greenhouse gas emission technologies as approved by Efficiency NB.

If you live in an area that experienced high growth in 2005 and 2006 odds are you have a zombie subdivision in your community. You know what I am talking about, roads, lights, maybe even sidewalks installed around fields of weeds and brush. Perhaps there are a couple of homes built, maybe even a face that looks out from the home nervously when the rare car drives by.

The Zombie Subdivision. The living dead of real estate.

Zombiesubdivisions

The Wilmington Star out of North Carolina had an interesting article on the phenomenon. Wilmington

and the surrounding area had a huge boom as people were leaving the northeast and moving to the ocean. Property values soared. Development was rampant. In Brunswick county, between Wilmington and Myrtle Beach, huge golf communities were planned and permitted. In 2005 and 2006. Ready to open just when the bottom fell out of the market.

These empty tracts, the shell is ready but there is no life, are the prime examples of zombie subdivisions.

It’s clear now to developers, bankers and real estate agencies that the planned development in Brunswick didn’t fit the market.

“What we saw from an appraisal and real estate point of view was that we really peaked about the third quarter of 2005,” said Tom Shoaf, a broker with Coldwell Banker Sea Coast Realty. “But by then, the permits had been pulled for a lot these projects and stuff was getting in the ground, so they were past the point of no return.”

In the end, these developments will probably get moving again – though maybe not for the next couple of years, officials say.

“I foresee a slow, steady growth,” Brunswick County Assistant Attorney Jana Berg said.

But the homes will likely be cheaper, smaller and come with fewer perks.

reported by Moishe Alexander, CFC CEO

http://www.therealestatebloggers.com/2009/05/27/zombie-subdivisions-the-living-dead-of-the-real-estate-market/

Welcome to the HomeZilla Real Estate Trends. As in previous months, we list the most searched provinces, top 10 most searched cities and top 10 most searched amenities.

HomeZilla’s Most Searched Provinces

1 Ontario
2 British Columbia
3 (+1) Nova Scotia
4 (-1) Alberta
5 Manitoba
6 (+1) New Brunswick
7 (-1) Quebec
8 (+2) Newfoundland
9 (-1) Saskatchewan
10 (-1) Prince Edward Island

HomeZilla’s Most Searched Cities

1 Toronto
2 (+1) Ottawa
3 (+1) Mississauga
4 (-2) Vancouver
5 (-) Quesnel
6 (-) Oshawa
7 (-2) Calgary
8 Brampton
9 (-) Winnipeg
10 (-) Whitby

HomeZilla’s Most Searched Amenities

1 Schools
2 (-) elementary schools
3 (-1) grocery stores
4 (+3) child care services
5 (-1) coffee shops
6 (-) high schools
7 (+2) banks
8 (-3) pubs
9 (-6) parks
10 (-) jr high schools

We hope you enjoy these March 2009 real estate trends and we look forward to your feedback!

Interesting report added by Moishe Alexander, CFC CEO