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Monday, February 14, 2011

City Developer Bullish On Condo Market

A city developer says the condo market is determined less by the local economy and more by what is happening with young professionals and retirees.

John Rocca doesn't think condos can revitalize the uptown core of Saint John but believes this type of housing does attract people.

He says there will be more homes built in Phase 1 of this project that were built in Saint John in all of 2010. He adds it's 83 homes on a very small parcel of land.

Phase 1 of the Harbourfront Residences condo project on Water street is 80 per sold. Rocca adds Phase 2 will begin construction subject to market demand and a decision on that will come this summer.