Condomania!

I am counting about 380 properties offered in Nelson-and-area by 4 realtors on Baker Street. Subtracting a generous 50 - presumably sold or undeveloped - about 330 residentials are on offer with various anything - at various prices.
Of interest here ought to be: how many foreclosures are hidden within these numbers, and what is the median time-span of properties listed.

Meanwhile - back at City Hall and despite the above - 3 generic condo-developments with about 90 units have stepped lightly over the very low hurdle of variances and rezoning. Low - what with developers clarifying little because Council is asking little. Kutenai Landing Part 2, 3 and 4: practically giving the shop away, coming from big-city density/mixed-use and tax-revenue. Only.

An additional 11 in advanced planning for the Nelson Daily News building - no parking allowed for and major modifications and permanent maintenance of Herridge Lane needed - will bring condos on offer in Nelson to about 100. And the total of anticipated and available residential properties in and around Nelson to - let's say - an even 400.
Though not to forget the not long ago talked about condos in the Royal.

1.
Density is not an issue in Nelson - we are not Coal Harbour in Vancouver. This non-issue punctuated by Nelson Commons having a hard - if not impossible - time selling its downtown-lifestyle.
2.
Mixed-use may be news and good in new and large big-city complexes. Nelson has been living mixed-use since Day 1: in the downtown core - as traditional anywhere - a store downstairs and apartments/offices above.
3.
Tax-revenue will only increase to significance if these developments actually become fully occupied reality and houses again turn into homes. It is astonishing that the developed brains are intent on oversupplying a low-demand market - but they just keep on coming! While it is not astonishing that Council's narrow focus sees taxes as the only way to move towards Nelson's "sustainable" growth.

None of these condo-developers have defined a market-demographic, while the location of their projects could appeal to different groups - provided developers aren't choosy. Which they really can't afford to be - with children, pet-pythons, smoking, garage bands - because that might scare-off potential buyers. After all - they need to consider: these 100 or so condos on top of 300 or so houses may dilute this low-demand market to - next to no market at all!

  

With Nelson's taxpayers paying and paying for Council's low hurdles and lack of a daring vision.




Images: Rene Magritte