As the City of Fredericton receives $10.3 million from the federal government to spur the creation of more housing, Mayor Kate Rogers says developers have a role to play in selling their proposals to people who already have their own homes.
Fredericton council delays moving controversial development forward without more details cbc.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cbc.ca Daily Mail and Mail on Sunday newspapers.
A controversial housing proposal to build more than 800 new apartment units has gotten the blessings of Fredericton city staff, but the city's planning advisory committee has recommended against it.
Posted: May 06, 2021 7:15 AM AT | Last Updated: May 6
Fredericton developer Jack Youssef says he s had to put building projects on hold because of the skyrocketing cost of materials.(Shane Fowler/CBC)
The cost of building material has skyrocketed to the point where some Fredericton-area contractors are now putting construction projects such as houses and apartment buildings on hold.
Others have started buildings but can t afford to finish them.
Jack Youssef, who owns the property development company Javo Properties, said he s had to walk away from a project on Fredericton s north side indefinitely. We got the foundation in, said Youssef. We were all ready, prepped and ready to go. We had our anchor tenant with our letter-of-intent signed. Our pricing was all locked in.