GLEN WALTER, Ontario – The Place St. Laurent subdivision in Glen Walter entered their fourth phase of expansion, with an official ribbon cutting ceremony being made on Friday, Feb. 14.
The development surrounds Yacht Blvd. in Glen Walter and the latest phase will see 13 lots developed.
“Place St Laurent is the only subdivision in Glen Walter to offer lots with all services: municipal water and sewer, fiber optics, natural gas, and Cornwall Electric. These services coupled with the covenants designed to preserve the integrity of the subdivision, and with the communal benefit enjoyed by the residents of Place St Laurent with their access to the St Lawrence River and Place St Laurent’s dock make this subdivision decidedly sought after and held in the highest regard,” said Irene Cameron of Remax.
Cameron went on to explain that the growing number of jobs in Cornwall and the surrounding area has created the need for more housing.
Our real estate market has experienced significant growth in the last five years,” Cameron said. “Where we are still one of the most affordable places to live in Canada, the average sales price for a single family home in Cornwall and South Glengarry saw a 21.87% increase between 2015 and 2019, and the average number of active single family home listings on the market decreased by 51.6% when comparing the average number of homes available for sale on MLS for Cornwall and South Glengarry in 2015 (409 homes) to 2019 (198 homes).”
Cameron explained that there were a few contributing factors to the rise in housing prices and the decrease in stock.
“Bob Peters, Division Manager, Economic Development for the City of Cornwall, advised that a definite contributing factor was the several hundred new jobs created in Cornwall in 2019 and he fully anticipates that pace of development will continue in 2020,” Cameron explained. “He further went on to state that there are over 400 jobs available in our area today. This rise in average home price and increased demand for homes is certainly attributable to the increase in jobs available in Cornwall, but it is also attributable to the rising housing prices in neighbouring Ottawa and Montreal not to mention the cost prohibitive housing prices in and around Toronto.”