Halifax is growing fast, and housing demand is expanding beyond the city centre. Developers can benefit from lower construction costs, shorter build times, and high rental demand in areas like Bedford, North End Halifax, and the Eastern Shore. Here’s a quick summary of opportunities:
- Lower Costs: Construction starts at $168/sq.ft compared to $220 in central Halifax.
- Faster Timelines: Projects complete in 6-9 months instead of 12.
- High Returns: Duplexes and multi-unit buildings generate strong rental income and equity growth.
- Emerging Areas: West Bedford, Dartmouth East, and Lawrencetown offer affordable land and growing demand.
These underserved areas provide a chance to build profitable multi-unit projects while meeting Halifax’s increasing housing needs.
Bedford & West Bedford Development Guide
Current Growth and Infrastructure
Bedford and West Bedford are key areas in Halifax's suburban growth. The region features new schools, retail centres, and subdivisions, offering a mix of peaceful suburban living with easy access to Halifax's downtown. These developments create opportunities for smoother multi-unit project approvals.
Multi-Unit Development Rules
Zoning regulations in Bedford and West Bedford are designed to support multi-unit housing. Townhouse rows and small apartment buildings are encouraged under local guidelines, with approvals aligned to community plans.
The cost to build in Bedford is competitive, with fixed-price projects starting at $168 per square foot [1]. Paired with strong rental demand, this makes the area an attractive option for developers.
Building for Family Markets
The area's demographics lean towards family-oriented housing. Popular project types include:
| Property Type | Target Market | Key Features |
|---|---|---|
| Townhouses | Young Families | 3+ bedrooms, private yards |
| Fourplexes | Professionals | 2–3 bedrooms, modern finishes |
| Duplexes | Mixed Use | Flexible layouts, ample parking |
Recent developments highlight the area's potential. For example, a newly completed duplex project reached full occupancy, generating $4,400 in monthly rental income [1].
"I crunched the numbers ten different ways, but they always came out on top. I've never had such confidence in a construction partner - and the final results speak for themselves." - Oscar L., Lawrencetown Investor [1]
North End Halifax and Hydrostone Market
Current Market Conditions
The North End and Hydrostone areas are excellent spots for multi-unit developments, thanks to strong rental demand and high occupancy rates. For example, Lloyd's short-term rental property in the area generates $8,700 per month in rental income. Built in just 10 months at $184 per square foot, the project highlights the strong investment opportunities available here [1].
Lot Division and Multi-Unit Options
The Halifax Centre Plan allows for a range of density options, from duplexes to small apartment buildings. Development costs are competitive, with new construction starting at $168 per square foot [1]. This makes the area appealing for various property types, such as:
| Property Type | Monthly Revenue Potential | Construction Timeline |
|---|---|---|
| Short-term Rental | $8,700+ | 10 months |
| 4-Unit Building | $9,600+ | 9 months |
However, projects in historic zones must comply with specific architectural standards.
Heritage Construction Guidelines
In Hydrostone, heritage guidelines require developers to follow strict design standards. While these rules may seem challenging, they don't have to impact profitability. Careful planning and fixed-price construction contracts can help developers meet these requirements while still achieving strong financial returns. This approach ensures projects stay profitable and respect the area's historic charm.
Eastern Shore Building Guide
Land Costs and Market Appeal
Lawrencetown and Chezzetcook, located along the Eastern Shore, are seeing a surge in interest as Halifax residents look for more affordable housing options. Land prices in these areas are much lower than those in the city, and the larger lot sizes offer great opportunities for multi-unit developments. Market research shows a strong demand for rentals, particularly in Lawrencetown. However, developers must also navigate certain infrastructure challenges unique to these communities.
Here’s a snapshot of recent project examples:
| Property Type | Average Monthly Revenue | Construction Cost (per sq.ft.) | Typical Timeline |
|---|---|---|---|
| Side-by-Side Duplex | $4,400 | $165 | 7 months |
| 4-Unit Complex | $9,600 | $173 | 9 months |
Infrastructure Requirements
Developers working in these Eastern Shore communities need to carefully evaluate the state of local infrastructure. While some areas have municipal services, others may require private systems like well water and septic tanks. Road access is another factor to consider. Fixed-price contracts for construction start at $168 per square foot [1], which includes infrastructure integration and permit costs.
Small Multi-Unit Construction
Eastern Shore’s affordable land and simpler infrastructure needs make it a good choice for small-scale multi-unit projects. For example, a 3,200-square-foot side-by-side duplex was built for $599,000 (including land costs) and completed in just 7 months. The property achieved full occupancy and was later appraised at $830,000, creating $231,000 in equity [1].
To make the most of these opportunities, developers should focus on:
- Designing efficient floor plans to maximize rental income.
- Using side-by-side duplex layouts to attract families.
- Factoring in longer commutes as a trade-off for lower costs.
- Leveraging extra lot space for parking or future expansion.
Construction timelines for these projects typically range from 7 to 9 months [1].
sbb-itb-16b8a48
Episode 47: Development W/ Travis Mills #halifax ...
Additional Growth Areas
Beyond the main regions already highlighted, several other areas show strong potential for multi-unit developments.
Spryfield and Purcell's Cove Markets
Spryfield and Purcell's Cove are gaining attention as demand for multi-unit housing grows. These locations combine city convenience with a quieter suburban feel, with construction costs starting at $168 per square foot [1]. Spryfield, in particular, is appealing to young professionals and families looking for affordable homes close to Halifax's downtown.
Sackville and Beaver Bank Development
Sackville and Beaver Bank offer lower land prices and steady rental demand, making them attractive for developers. These suburbs are well-suited for side-by-side duplexes and smaller multi-unit complexes, with construction costs remaining competitive [1].
Enfield and Fall River Growth
Enfield and Fall River are becoming more popular thanks to improved transportation and their closeness to Halifax Stanfield International Airport. Better transport connections make these areas ideal for duplexes and small multi-unit projects, with construction costs staying relatively affordable [1].
Conclusion
Multi-Unit Construction Outlook
Halifax's underserved areas present developers with opportunities for better returns through lower construction costs and faster approval processes. These savings provide an immediate equity boost, while quicker project timelines enhance first-year returns [1].
Examples from similar markets highlight the potential. Projects in these areas often achieve higher profitability, thanks to reduced construction expenses and shorter completion periods, coupled with strong pre-leasing demand [1]. These trends offer a clear path for developers to make confident decisions in emerging markets.
Next Steps with Helio Urban Development
Developers can capitalize on these advantages by taking action now. The numbers are clear:
| Metric | At $168/ft² | At $220/ft² | Advantage |
|---|---|---|---|
| Return on Project Cost | 79.75% | 43.88% | +35.86% |
| Time-to-Income Advantage | +$48,000 | Baseline | +$48,000 |
These growing communities offer both reduced entry costs and quicker approval processes. The efficient permitting system and well-managed projects make these areas ideal for new multi-unit developments, especially as demand continues to rise [1].
