60 Unit New Development in Cape Breton, Nova Scotia

[Sam Gillett]

My company has discovered a niche and under valued market in Cape Breton, Nova Scotia. A combination of lack of infrastructure partnered with historic highs in population growth specifically in new international students pouring into the area to attend Cape Breton University, has presented less then a 1% vacancy rate on the island. 

Compared to the primary market in Nova Scotia (Halifax), land and property values are a fraction of the cost in Cape Breton, yet the demand is dire. The island still boasts a ~100,000 population making it the second biggest market in Nova Scotia. 

Along with connections to IELTS Testing firms in India we have began what we refer to as a "pipeline" for international students looking to come to rural parts of eastern Canada to study. This will give us a edge as the goal is to have a waitlist of students in hand as we build so we can cater directly to the demand.

Our solution is to rapidly develop housing through modular 2-4 unit apartments, which are as or more competitive then any other form of LTR I've underwritten. Providing fixed costs, factory monitored conditions/precision and rapid timelines (as short as 2 months for a full 4 unit apartment to be delivered and rentable to our site), we are strong believers that modular is the future of real estate. 

Would love to hear feedback and discuss further with anyone who is curious about our development!