Market Analysis

Project Description

NBLC is the land use planning firm responsible for the approval of a proposed 47-storey, 428-unit, mixed use tower development at 628-638 Church Street and 68-70 Charles Street.  This project contributes to the local fabric while promoting land use planning policy objectives through the sensitive insertion of a residential tower form within a site plan featuring significant street setbacks and the retention of significant portions of three buildings that have been identified on the City’s Inventory of Heritage Properties.  Other important and complicating considerations involved the requirement to replace the existing 20 rental apartment units and the preparation of a Tenant Relocation and Assistance Implementation Plan.

NBLC was also retained by Aspen Ridge Homes to conduct a condominium apartment market feasibility analysis for the property.  The purpose of the analysis was to determine the overall market depth for new condominium apartments at this location and provide useful recommendations with respect to the appropriate suite mix, unit sizing, estimated achievable pricing and sales absorption rates.