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Developers Of Proposed Subdivision Seeking Potential Homebuyers

Posted In: Uncategorized

Tags: fairfield meadows, first time home buyer, lower sackville housing project, new sackville subdision

The developers that are hoping to pursue a Sackville project for first-time homebuyers in the area are in the midst of determining their key markets for the new housing.

Bonnie Swift, Sackville’s director of economic development,
said Castle Hill Capital Inc. – which is a land development company based in
Halifax – has asked the project’s consultant Ged Stonehouse to conduct a
marketing strategy proposal to prove out their target audiences.

“They want to make sure there are actually interested parties
for the project as it is presented,” said Swift during her monthly report to
council in September.

The marketing strategy would include, among other measures,
CMHC homebuyers’ seminars, open house presentations in the community, as well as
creating a visual design and marketing package to sell the project.

“The goal is they would be able to find, over a period of
three months, enough people that are interested enough to consider purchasing a
home in the spring of 2012,” said Swift.

The proposed housing project, which will be situated on a
24-acre site next to Sackville’s nine-hole golf course off Fairfield Road, is
anticipated to be developed in several phases over a multi-year period. In
total, more than 100 new homes are being proposed, featuring a mix of bungalows
and townhouses for both families and seniors

Tentatively called Fairfield Meadows, the subdivision was
originally developed as a concept aimed at first-time homebuyers, an initiative
that would make it easier for people to purchase a new home in Sackville and as
a way to expand the housing stock in the area.

But with houses expected to be priced at $168,000 to
$188,000, there is still concern within the community about the affordability of
the homes.

“People are worried it won’t be attainable housing,” said
Coun. Mike Tower.

But Swift reassured councillors that her department is
working hard to build a relationship with the Canadian Mortgage and Housing
Corporation (CMHC) to be able to offer prospective homebuyers with “unique
financing opportunities,” such as low-interest mortgages or reduced
downpayments. She said she anticipates to be able to offer the new
energy-efficient homes at an estimated $678 per month.

“So I think we’re going to be able to offer people attainable
housing,” she said.

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