Sunday, July 19, 2009

Recession Over ?

New housing starts is a good leading indicator of economic confidence. Builders must get their product started a year or more before it is to be occupied.


Three new residential projects have begun in the west side area. The top picture shows the excavation for the second tower of Claridge's project on LeBreton Flats. If you look closely, you can see the base for the high crane has been installed on the right side of the hole, near Fleet Street which leads to Pooley's Bridge and the downtown.


Picture 2 shows the demolition of two older housing units on Preston Street. They will be replaced by a new three storey building (2 floors of residential above commercial). The advertisement and elevation for the project was shown in an earlier blog. I really like this project, its scale is perfect for the street, and it more than meets the main street zoning and planning guidelines for at least 50% of the total floor area being residential above the commercial area.


The last picture shows the first bit of hole digging for the Z6 condo building on Booth Street at Balsam, near St Anthony School. The four storey condo has one commercial space on ground floor; the project is 60% sold.

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