A local residential landlord is defying the local industry odds.
Despite an overall soft rental and real estate market in Pictou County and Nova Scotia, Pictou County’s Twin Rivers Properties continues to grow and will soon be the fourth largest land lease community and apartment owner in the province.
Twin Rivers co-owner Blair van Veld says that more than 145 units were acquired by the company last year alone and by the end of November, it will own a total of 691 with adjusted rental revenue growing by 22 per cent last year as a result of the company’s aggressive growth strategy.
“With an approximate 10 per cent vacancy rate in all of Pictou County, we see this as a tipping point,” Blair van Veld said.
Twin Rivers is a real example of Pictou County entrepreneurship by co-owners Blair and his father Tony, in a challenging business sector.
Twin Rivers will now be in every major centre in northern Nova Scotia, including Pictou and Antigonish counties, the Strait Area and CBRM along with Bridgewater, Municipality of Chester, and Miramichi, NB.
The local company owns several properties in Pictou County including: Wadden’s Court in Westville; Riverton Park in Riverton; Country Villa Estates in Abercrombie; Hemlock Hill Mini Home Park in Plymouth; Twin Rivers Park in Stellarton which is the company’s flag ship property; High Street Estates in New Glasgow and Evan’s Way in Westville.
The following land lease communities were purchased in 2016: Curry Ridge, Howie Centre, just outside of Sydney, 21-unit community along with three park- owned homes; Hill Top Estates, East River, just outside of Chester, 14-unit community; Mulgrave Estates, Mulgrave, 44-unit community; and North Grant Park, Antigonish County, 66 units.
He will also be taking over as vice-president of the Pictou County Chamber of Commerce from Malcolm Houser. “I am excited for this opportunity,” van Veld. said. “I know I have pretty big shoes to fill from Malcolm.”
Van Veld is well suited for this role, having served on the board of Bergengren Credit Union as well as serving as vice-president of the Manufactured Housing Association of Atlantic Canada.
Finally, van Veld has just made a personal donation of $500 to the Summer Street Foundation.
“We really believe in all of the great work Summer Street does.”