The houses behind me are coming along quite quickly now. They were out yesterday working in the rain even. These pics are from last week and you can tell they’re not wasting any time. The first picture is even an action shot as they’re pouring stone into the foundation.
And here are a couple of pics from the end of work yesterday.
And from the other side.
Alex Good 
That little man in the first one is going to get entombed!
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Haha! I think he got out in time.
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The building -to-be looks quite big as floor space, is that just one house?
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I believe there are two buildings side by side. And they’re detached.
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And these are going to be rentals for students?
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Yep. Opens in September. Basically each floor is a bunch of bedrooms with a kitchen and bathroom if I remember the listing. Five minute walk to campus. But student housing is overbuilt right now and I don’t think this is a great long-term investment.
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Maybe they can rent them to real people.
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Nah, it’s each floor as a suite model so I think it’s just for students. That’s who it’s being advertised for too. But you never know.
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Moving right along! Finish it up, chop, chop.
Then it can sit empty for a year or two 😉
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I wish! I already have a couple of houses that have been abandoned for years on the other side of me. Peace and quiet!
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More student housing…student housing already overbuilt…why are they expecting so many students? Is this a major university?
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Three or four years ago there was a shortage. Something like 1500 beds. Landlords started having dollar signs popping up in their eyes. But since then the university has taken over two hotels and repurposed them as residences and they have a couple more massive residences under construction. Meanwhile, the government shut down foreign students almost completely, which is what was driving a lot of the demand, and universities in general are facing a demographic cliff in coming years.
There’s no way I’d be putting this kind of investment into building student housing. I’m not sure there’s much demand there now (the overall rental market has really been driven down this past year), and what there is will probably decrease moving forward. But nobody asked me . . .
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I think the government is (too late) doing what needs to be done, but that sure does suck for anyone who was counting on the status quo ante.
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