Yes it appears that PEI is finally starting to catch up with the rest of the country with condo development. A few years ago there was basically one condo building in Charlottetown on Prince Street. Now there are a few developments that are in planning, under construction or completed. Our office is the listing company for a few of these such as The Northumberland, The Why, and Parkside Condos. Each project is different than the other.
In the past 2 weeks there has been two announcements of new developments Stratford Towers and a new development proposed on the Charlottetown waterfront. It is interesting to see these two projects as we were involved in 2001 with another developer who was going to build on the Charlottetown site and when permit issues arose he changed to the Stratford site which is now proposed with a different developer. At that time condo living was not well known to the local market and although interest was high...it was not enough to get the hole dug. Some people may think that there isn't a market for these units and that there is enough on the market for now but if developers have done their homework with market research and they want to provide a choice to the consumer..all the power to them. In these changing times consumers are want more choices in where they will spend their hard earned money.
If you are thinking of condo living and wish to know more...contact any of our agents