We have started a major thrust to get more accommodations in St. Stephen because there is a known shortage. As you probably know, we have a marketing program to attract people to move here but it is important that we have options for them in living. Not everyone has the same needs/wants and not everyone can afford the same rent or purchase price. That means we need options.
It is a very big commitment for a developer to invest in a new large complex, not only in an initial financial way, but in an ongoing management of the facility. Return on those buildings is very long term but we need to find someone and we have a pretty good story. We have land available. We have a recognized consultant study showing the need. We have people expressing their interest and need for units. We have a Town that is on the move with a Mayor and Council interested in development. We have an active Marketing program bringing people here. We have local contractors buying older buildings and upgrading them or subdividing them – every one helps. We have subdivisions on the drawing boards ready for action.
