Despite the major recession facing the city and the real estate market, the multi family mid density land supply in the inner city remains at a very low level.  

One would think the recession would have brought much lower prices for multi family zoned land - after all each townhouse is selling for 50-100 k less than it was two years ago.  We believe that due to the scarcity of the raw land component of these projects that prices have remained high or sellers continue to withhold their land from the market. Whatever the reason, there simply isn't any land we can buy in our neighbourhoods of choice to build. 

So we are now proceeding with a multifamily rezoning of a very good lot near the Westbrook lrt station in Killarney.  If successful with the application, this will be a great threeplex townhouse project.  We will update the blog with news and drawings as the material becomes available.