Sudbury's red-hot housing boom.

• Author: Louiseize, Kelly
• Position: SPECIAL REPORT: SUDBURY

Greater Sudbury is only scratching the surface on potential development says two land investors, and the momentum just keeps on growing.

With strong mining, health and education sectors, higher income families are bringing a more diverse culture to Greater Sudbury says Sal-Dan Developments Ltd. president Sam Biasucci.

Biasucci has been in the home market construction business since the 1980s and has purchased land throughout the city.

"Greater Sudbury has a very attractive market," he says.

"There is no question that it has become the capital of the North."

The bullish mining sector, the Northern Ontario School of Medicine along with the Northeastern Ontario Regional Cancer Centre has attracted more of a knowledge-based population, which has created a slowing, if not reversal, of youth outmigration in Greater Sudbury, Biasucci says.

"Jobs are more available and the signs of a strong economy are visible," he says.

More than 60 per cent of his lots on the east side of Sudbury have been spoken for, while properties to the west side of the city are more than half sold. Three young families have recently moved into the water tower subdivision located in the centre of the city.

His efforts will be focused on the downtown core and its expansion. Specifically, he intends to build subdivisions all the way to the big box stores located closer to New Sudbury.

Although it is difficult terrain, he says the worst part of the construction is over now that he has broken ground with the water tower subdivision. Another 600 to 700 lots could be developed on top of the 153 that already exist on 65 acres. To do this, more land acquisitions will be required.

Based on the feedback from contractors, president of the Sudbury and District Home Builders Association, Karen Trudel, expects another banner year.

"They are absolutely swamped this year and top builders expect another great year next year."

Greater Sudbury has been experiencing this boom for approximately four years. Move-up buyers want newer homes which leaves the starter homes for first time buyers, says Alex Dumas, president of Royal LePage franchise in Greater Sudbury.

"I think this boom has a lot to do with the stable economy," he says. "The market still has legs and is still going strong and the interest rates have stabilized, so I anticipate more of the same."

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