MULTI-RESIDENTIAL DEVELOPMENT LANDPID 01030196, Mountain Road, Moncton, NBF

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M U LT I FA M I LY D E V E LO P M EN T O P P O RT U N I T Y

ASKING PRICE$305,000 or $12.75 PSF

LOCATIONConveniently positioned on Mountain Road, just north from Gorge Road, with easy access to Trans-Canada Highway

AREAThis site offers 120 feet of linear frontage and 198 feet of depth, for a total of ± 23,922 square feet (±0.6 ac)

SERVICESAll utilities are available including power, city water & sewer

ZONINGMulti Unit Dwelling Zoning

Conceptual renderings for a 24-unit multifamily development

MapletonPark

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2 min - Mapleton Park2 min - The Briarlea – Senior residence3 min - Casino New Brunswick4 min - Crandall University4 min – Trinity Dr/Wheeler Park Power Center5 min – Magnetic Hill6 min – Mapleton Centre8 min – Costco Granite Centre12 min – Downtown Moncton

The site is located within a short drive to many amenities:

SITE

Greater MonctonRental MarketOverview

Greater Moncton continues to see a significant decrease of the overall vacancy rate going from 9.1% in 2013 to 2.2% in 2019.

Moncton North vacancy rate dropped one point between 2018-2019, now at 2.4%. The vacancy rate is lower for buildings built in the last 20 years (1.3%). The demand is driven by the growing population coupled with a lack of meaningful rental supply, which are fueling income growth at an exciting pace for property owners.

The average rent, in Moncton North for properties built after 2000, increased 15.89 percent from $926 in 2018 to $1,073 in 2019.

As demand for quality products remains strong in the region, these factors are also likely to continue the upward pressure on average rents and quicker absorption of units.

1.3%2019 vacancy for

Moncton North for apartmentsbuilt after 2000

±152,000Estimated population CMA

65%Renters

±$88,295Avg. Household Income

Moncton North

$1,073Average rent per month for

Moncton North for apartments built after 2000

Source: CMHC and Sitewise

34%Owners

Ratio Renters/Owners for Greater Moncton

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