As we near the end of April I’m excited to share with you another business update! With the good weather we are having we are starting to finish the exteriors at a number of our projects. Finishing the exteriors is always my favorite part as there’s nothing quite like seeing a brand new building.
Our Triplex Pair is wrapping up in Oshawa, with the brickwork nearly complete we have the landscaping to tidy up then I can’t wait to show you the final product. Pre-leasing has begun and we are expecting we will have the property fully stabilized this summer.
Our Six Plex is moving along quite nicely with the drywall being installed inside the building. The siding is nearing completion and I can’t wait to see what it’s going to look like all wrapped up. There’s nothing quite like seeing the finished exteriors of our buildings for the first time for me.
Skilled trades have started their rough-ins on our multiplex build in Bowmanville. Now that we are at this phase we expect that we will be moving fairly quickly to the finish line.
We have pivoted on our three-phase project in Bowmanville. With the changes in commercial financing, we have had to find a new solution to satisfy all the requirements.
After lots of thought, we believe we have a solution. Implementing it, however, will be one of the most difficult construction challenges we have had to face to date but should create a very unique product.
Federal Election Results and Housing
As would be expected with a snap election, it was on the top of every Canadian’s mind this past month. With the unexpected consequences of Trump’s rhetoric making this a closer race than originally anticipated, strong political sentiments had been stirred up on both sides of the two major parties.
As we all held our breath preparing for the upcoming election as housing developers and providers, it’s important to remember that regardless of who won, it won’t be the end of the world in our sector.
Both parties had proposed strong plans for the housing sector, recognizing the problem we have with supply. Both parties had proposed lowering development charges to help stir home construction and eliminate the HST on new homes up to a certain dollar amount.
It is important to remember it has been the liberals who have created the incentives for missing middle housing. While they have been in power over the last four years we have seen policies implemented to help significantly increase housing supply and this would be unlikely to change for this fourth term.
Though I would have preferred a conservative government as their policies more align with what I believe would have been best for the Canadian economy. I do believe we will continue to see some beneficial policy changes in housing while the liberals are in power.
Want to learn more about what we are involved in?
Check us out through the links below!
For any concerns or inquires you can reach us at info@northlakesdevelopments.ca or through our website contact page.