Developer sees optimism despite flat housing market
Despite a slowdown in the local new housing market that has seen permits for single family units dwindle to a trickle, at least one developer has confidence that new multi-family developments in Prince Albert will be a hit with existing and first-time home buyers.
Josh Remai with Span West Developments said confidence in the housing market has waned, but there are still opportunities in Prince Albert. Remai is behind the Woodbridge Terrace condo project, the third phase of new housing developments in the city’s West Hill area. Construction on a new four-storey, 24-unit condo development started about three weeks ago.
Remai said units in the two other developments in Woodbridge have sold, hence the need for more development.
“The economy is still growing, it’s just growing at a slower pace,” Remai told paNOW. “They (buyers) have some concerns about the economy, where it sits and will they be able to sell their house (but) homes are still selling in Prince Albert, people are still moving here and there’s still jobs in Prince Albert.”