Courtesy Broadstreet Properties Ltd. & Seymour Pacific Developments Ltd.
The housing situation in Prince George seems to be a bit of a tricky one right now.
The city is looking at ways to combat this, including how to incorporate affordable residential housing in the downtown area.
“What we’ve been trying to do here for the last three years of this Council’s mandate is to entice developers to look at multi-family residential development,” says Mayor Lyn Hall.
“The rental market is certainly an opportunity for developers.”
This comes following Hall’s deciding vote went in favour of allowing the development of a multi-unit housing complex on O’Grady Road, despite other councillor’s and the public’s concern over traffic safety in the area.
One Prince George realtor agrees with the rental issue.
“Anything good that goes up, landlords are able to choose their tenants,” explains Realtor Clint Dahl.
“Whereas in a recessed market, landlords would be giving incentives to find tenants.”
For buyers, housing in the $250,000 to $350,000 dollar range is at a premium according to Dahl.
“The places in that range, there’s definitely a shortage,” he explains.
“When something good hits the market there are usually quite a few people who are ready to buy it.”
Dahl points to a good economy as a reason for the tight market.
“I think we have a good economy here. I think more people are moving to the city than what Stats Canada is showing,” Dahl says.
“Just look around, look at the traffic in town, we’re way busier than what we were even five years ago.
The College Heights area has a number of housing starts which could impact the market soon.
“You’re seeing it all over the city but in College Heights is where most of the growth is,” says Dahl.
“From talking to builders, they seem to selling their product fairly quickly.”
