There will be 74 old military houses for sale in the West End of Moncton shortly after the federal government determines that the detached and semi-detached houses in Acadia Park are no longer needed, but potential buyers won’t have long to decide.
All property listings must be submitted to Public Works and Government Services Canada by February 20.
David Maynard is interested in buying one of the houses right next to him but has some reservations.
“I’d really like to do it, but I don’t see the way the proposals go through,” he said.
Royal Lepage will handle the sale of 15 properties with the rest of the houses being sold in six large blocks, ideally to developers.
All levels of government had four months to show interest in the property, but only one federal agency came forward.
That leaves individual buyers like Maynard frustrated.
“It’s tangled,” he said. “They don’t make it easy for themselves. They said from day one that they are more interested in selling to developers.”
In May, more than 100 people attended a public meeting to discuss what will happen to the homes.
Worry about apartment flooding in the market
Many expressed concerns that selling the homes could flood an already saturated real estate market and lower the value of other homes in the neighborhood.
The new president of Moncton’s real estate board of directors, André Malenfant, says he has never seen so many homes come onto the market from the same seller.
“I don’t remember a similar scenario,” he said.
Malenfant says a flurry of cheap single-family homes in a neighborhood that had 40 sales last year will have an impact on the market.
He says it typically takes about four months to sell a home in these neighborhoods at an average price of $ 160,000.
“I think it will have a negative impact on what is on offer in the immediate neighborhood,” said Malenfant. “New and Old, West End and maybe even Moncton Center and Downtown Moncton.”
The federal government has no one in Moncton to explain the sales strategy, but they organize a few open days for potential buyers.
The first is this Thursday.