There is quite a lot of commercial real-estate activity in Cobourg – some for sale and some for lease. I find the more interesting category is sale (rather than lease) since that means the owner wants out. It’s also interesting to note which properties are no longer on sale – for example the Park Theatre and the “Quigley” lot on Second Street. Based on public information (MLS and others), I have prepared a list with some properties new and some which have been up for sale for a year or more.  The list is not complete since not all sales are on MLS – a notable group of properties in this category are those on King West originally owned by John Lee. Note… Read complete articleCobourg Commercial Properties for Sale – August 2019

At the Council meeting on 22 July, an update on developments currently with the planning department was given by Councillor Aaron Burchat (on behalf of Planning coordinator Nicole Beatty who was absent).  Aaron said there were 25 projects and listed 12 of them.  They included projects that had recently come before council plus some others.  There is a wide range planned – some are low cost and affordable while others are “high end”.  It’s clear a good number of major developers are interested in the Cobourg market – perhaps encouraged by the recent rise in house prices here.  These include Stalwood, New Amherst, Mason Homes, Rondeau, LeBlanc Homes, Balder Corporation and Rollins Investments.  Some have been in various stages for… Read complete articleUpdate on Housing Developments – July 2019

There’s been a lot of discussion recently on the need for affordable housing in Cobourg – both new and rental. But many in Cobourg own their own house – in 2016, according to the census, there were 8,788 households in Cobourg and according to CMHC, in October 2018 there were 1068 rental units. The difference of over 7000 are mostly homes that are owned although perhaps with a mortgage. For many of these 7000+ households, this also represents a large part of their net worth and therefore their savings for retirement.  So the sale price of their home is important and the good news is that despite well-publicized talk of prices dropping, they have not. (Or bad news for renters). The same is… Read complete articleUpdate on House Prices in Cobourg

When the CDCI West School was sold, the sale did not include the land behind the school used for sports.  In Cobourg, this is prime waterfront land and occupies (by my estimate) about 1.4 Hectares or 3.6 acres.  It fronts onto Durham Street.  For 15 years, the school board had a hand shake agreement with the Town allowing a boardwalk to be built across the unused part of the land near the West beach.  This easement was never formally/legally setup because the School Board said they had “no intention of developing the property in a manner inconsistent with the Town’s continued use of the easement”.  But now, the situation has changed and the School Board wants an official/legal easement but… Read complete articleCDCI West Playing Field being readied for Sale