text: With a diversified asset base of almost 5,000 centrally located apartment units in Halifax and 1,100 MHC sites in and around the city, Killam 
  expects to benefit from increased demand for housing that will come from economic and population growth. 
  
  **Growing Investment in St. John’s**
  
  St. John’s, NL has been transformed by offshore investments, with exceptionally strong economic growth in recent years. The strength of the oil 
  business has resulted in both a growing population base in the city and a 21% increase in the average home price over the last three years as per 
  CMHC’s Fall 2013 Housing Market Outlook. The decrease in home affordability coupled with an absence of new rental unit construction for the 
  last twenty years, is generating strong demand for rental units in St. John’s. 
  
  With 813 apartment units in the city, Killam has a 22% market share of the rental product, as measured by CMHC, including a new 71‑unit 
  property development which opened in 2013. the company’s highest rental growth and noi growth has been earned in st. John’s over the last 
  four years. Despite this, the current average rent for a two‑bedroom unit in St. John’s is $864 per CMHC, which is very affordable. 