People have to live somewhere — and builders need to cover their costs.
“We’d love to get into affordable housing,” said Troy Brownlee, marketing manager for the company, during an interview at the Wilson Street offices of BLD Homes (Brownlee Land Development) on Monday, Nov. 29. However, “you’ve got to make your money back,” he added.
At the same time, “I totally appreciate that people can’t afford it,” said Troy.
While their latest building at 111 Sheppard Ave. is admittedly “at the higher end,” said Brent Brownlee, Troy’s father and owner of the business, a proposed apartment building at the intersection of Joy Avenue and Kippen Street will, “we expect … be more affordable.”
“There is a huge amount of demand in Perth for rentals,” said property manager Chloe Preece. “You can’t find any here.”
One of the problems is high demand and comparatively low supply.
“Property would have been so stagnant in Perth for so long,” said Brent. As for his own company, once 111 Sheppard Ave. is fully built, there will be “no other multi-unit buildings for this year,” said Brent.
Original source: https://www.insideottawavalley.com