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Thunder Bay, ON -- For people in Thunder Bay, this summer's construction season appears far busier than usual. Construction of roads, building construction and home contruction is visible all over our community.

While the CHMC shows that August housing starts are down, that isn't a major issue according to RE/MAX Broker Vince Mirabelli. "This shows that we are in a healthy state of certainty in our market.  Being that our numbers are always around 20-30 starts a month in the summer, a swing up or down of 5-7 starts isn't that big of a difference when you compare the overall picture," states Mirabelli. 

We did however see a significant difference in semi-detached, row, and multi-family apartment unit starts and that can be attested to smaller local developers seeing a need for more rentals in the market due to the low vacancy rate in Thunder Bay," continued Mirabelli.

Thunder Bay's real estate market continues to perform. One of the growth areas is in condos across the city. In County Park for example former townhomes have been renovated and are now condos.

One difference Mirabelli notes is that the City has been removing many long empty eye-sore buildings over the summer. This helps make the city more attractive.

"But the bigger picture of the significant increase in starts from zero last year is that city administration and council are doing a great job making it easier for the smaller developers to be able to re-zone those properties to build 2 to 6 unit dwellings on them," comments the RE/MAX broker.

"City council is sending the message out that they are open for business and development and in this sector, it shows!" concludes Mirabelli.

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