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  #261  
Old Posted Dec 3, 2019, 1:39 AM
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Fischbob Fischbob is offline
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Here is the DevelopSJ press release:

Quote:
NEW PLAN FOR FUNDY QUAY SITE
December 2, 2019

–CITY COUNCIL GREENLIGHTS OPTION AGREEMENT WITH LOCAL DEVELOPER–

December 2, 2019 – SAINT JOHN, NB— Saint John City Council has greenlighted a new plan for Fundy Quay, the former Coast Guard site on the city’s waterfront.

Council voted to approve a legal agreement between Fundy Quay Developments Inc., a subsidiary of Elias Management Group, and the City of Saint John, which includes an exclusive 2-year development option while site preparation work is completed, and a 25-year lease-to-own agreement structured to incentivize development.

“Fundy Quay is arguably the City’s most valuable real property asset,” says Steve Carson, CEO of Develop Saint John. “We cannot let the false starts of the past prevent us from moving forward. Taxpayers deserve to see this property achieve its potential for the City – both from a use perspective and from a property tax revenue perspective.”

The developer attached to the deal is Elias Management Group (EMG). EMG was the successful proponent in a Request for Proposal process launched in April 2019.

“EMG’s proposal checked all the boxes for us,” says Carson. “Their vision is perfectly aligned with the community’s priorities outlined in the Central Peninsula Neighbourhood Plan, their proposal doesn’t rely on Provincial government leasing participation, and they want to take a phased approach – which means the City’s rental market will have time to adjust to growth in available inventory as construction proceeds. Plus they’re a local business, and that means a lot.”

EMG is the developer behind a variety of successful projects in the province, including Fundy Harbour Estates and Vimy Estates in Saint John. They are also a partner in the redevelopment of the City Hall building.

The first step in the plan, once the agreements are signed, is to prepare the site for development. This will include repairs to the sea wall – a project that will take approximately two years to complete.

During the site preparation phase of the project, the developer will consult with the community and complete final design specifications for the development – a process that includes a business plan, detailed engineering analysis, and architect’s renderings.

“Sensitive to the community’s priorities, we’re going to be creating a mixed-use development,” says David Elias, CEO of EMG Group. “It could include residential units, retail and commercial space, a hotel, arts and culture space, public access to the waterfront, and green space. It will unlock the potential of our waterfront, making it the most significant development in Saint John since Market Square.”

Project information, including a timeline, will be available on the Develop Saint John website.
EDIT - And there's a bit of additional information on the DevelopSJ homepage:

Quote:
RE-IMAGINING FUNDY QUAY
Fundy Quay (the former Coast Guard site on the Saint John waterfront) is arguably the City’s most important real property asset. It has the potential to transform our waterfront, creating a destination of regional significance, and setting off a domino-effect of economic development in the area.

A new plan for development is underway, and here's an overview of what’s happening.

WHAT’S THE VISION?
A vibrant catalyst for future waterfront activity that will include:

retail and commercial space;
shops and boutiques;
residential apartments and condos;
hospitality and entertainment spaces;
cultural and educational options; and
green spaces and public access to waterfront.
The Elias Management Group will be developing the property under Fundy Quay Developments Inc., a subsidiary company.


WHAT WILL THE FINISHED PRODUCT BE?
Our Request for Proposals in April 2019 asked bidders to propose a development that included:
high density residential units (condos and apartments)
retail and commercial space
potential for arts and cultural spaces
potential for small hotel space
Concept designs will come in the first year of the option agreement.
Both Develop Saint John and our selected developer Fundy Quay Developments Inc. have carefully reviewed the Neighbourhood Action Plan, and will leverage that extensive consultation process and be an active participant in implementing their recommendation to: Promote the incremental development of Fundy Quay as a mixed-use cultural destination on the waterfront.
Public consultation will take place in 2020.
WHY NOW?
We are capitalizing on current momentum in the Uptown area.
This project will create a much-needed revenue stream (in the form of increased tax revenue) for the City, requiring no ongoing operational funding.
The City is currently experiencing near-record-lows in available residential rental units, and this project will allow us to meet the needs we already have, at market-level rents.
The City is experiencing visitor growth, and a new urban hotel would allow us to continue growing without creating bottlenecks.
WHAT’S NEXT?
December 2, 1029: Common Council approved the execution of the Option Agreement with Fundy Quay Developments Inc.

90 DAYS: Ground Lease is finalized.

2019/20: Site preparation work including seawall infrastructure repair.

2020: Community consultation.
__________________
“The street is the river of life of the city, the place where we come together, the pathway to the center.” –William H. Whyte

“Forget the damned motor car and build the cities for lovers and friends.” –Lewis Mumford

Last edited by Fischbob; Dec 3, 2019 at 1:53 AM.
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  #262  
Old Posted Dec 3, 2019, 11:47 AM
DyAm00394 DyAm00394 is offline
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Local Company Plans Commercial, Residential Development On Coast Guard Site


https://huddle.today/local-company-p...st-guard-site/
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  #263  
Old Posted Dec 4, 2019, 1:09 PM
UptownJeff UptownJeff is offline
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FINALLY! A credible developer. Very exciting news and can't wait to see the concept drawings
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  #264  
Old Posted May 28, 2020, 12:40 PM
Sabien Sabien is offline
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An unexpected result of the pandemic

Last year it would have sounded like a bad joke if someone told me that a worldwide pandemic was going to be the catalyst to finally making some progress on this project.

https://www.cbc.ca/news/canada/new-b...ield-1.5587264
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  #265  
Old Posted Aug 9, 2020, 9:54 PM
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ColSJ ColSJ is offline
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I figured I’d provide a bit of information around what GNB’s $92M wish list of infrastructure projects means for Fundy Quay. The province is asking for $11.7M to raise the seawall and extend Harbour Passage. $2.3M of that has to come from the city which according to Mayor Darling has been set aside.

Where things run into a slippery slope is the fact the federal government is only handing out $67M under the 80-20% funding formula and the province’s list adds up to $74.2M. So not all projects are guaranteed, however Fundy Quay does meet the funding criteria as part of the focus of the package is to support projects that protect against floods.

If Fundy Quay receives funding we will see activity on site in the near future. To be eligible construction must start no later than September 30, 2021 and must be complete by the end of 2021. Dominic Leblanc stated “our intention is to very quickly approve these projects so that the province can tender the work in the next couple weeks.” Given the large scale of this project I’d expect all levels of government would be rushing to get this off the ground as soon as possible.
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  #266  
Old Posted Jan 29, 2021, 3:26 PM
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From the TJ today, paywalled

https://tj.news/greatersaintjohn/101465829
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  #267  
Old Posted Jan 29, 2021, 4:52 PM
OliverD OliverD is offline
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Quote:
Originally Posted by Joe View Post
From the TJ today, paywalled

https://tj.news/greatersaintjohn/101465829
Can you provide the Cole's notes?
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  #268  
Old Posted Jan 30, 2021, 2:16 AM
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Fischbob Fischbob is offline
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Quote:
Originally Posted by OliverD View Post
Can you provide the Cole's notes?
The headline reads: 'Major announcement' expected on Fundy Quay project, says MP. And the rest is paywalled
__________________
“The street is the river of life of the city, the place where we come together, the pathway to the center.” –William H. Whyte

“Forget the damned motor car and build the cities for lovers and friends.” –Lewis Mumford
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  #269  
Old Posted Jan 30, 2021, 2:32 AM
DyAm00394 DyAm00394 is offline
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Wayne Long posted this on his Facebook page while sharing the article.


Quote:
"Strategic infrastructure investments are critical to allowing our community to achieve its full economic potential; that's why I worked hard to more than double average annual federal investments in our riding, compared to my Conservative predecessor's time in office, during my first mandate.

It's also why my team and I have been working tirelessly with federal, provincial, and municipal colleagues since 2019 to secure the federal-provincial funding, through our government's bilateral infrastructure agreement with the provincial government, that is needed to allow for the redevelopment of our waterfront.

I look forward to being able to share some exciting news with you regarding the results of this hard work in the coming weeks!"
Source: https://www.facebook.com/WayneLongMP...43465012463352


I'm not sure what the article says, but this is what he commented.


Also, Don Darling commented on his post saying:
Quote:
"The former Coast Guard site has been one of our top three priorities for growth, over the last few years. Thank you very much for all your advocacy and work. Looking forward to work starting this year. "
Source: https://www.facebook.com/WayneLongMP...43494649127055


So from what I've gathered they've must of secured the funding for this project, and it can finally move forward. We shall see in the coming weeks when the announcement will be made.
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  #270  
Old Posted Feb 6, 2021, 6:15 PM
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ColSJ ColSJ is offline
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In an interview with CBC’s Julia Wright MP Wayne Long says we are within 2 weeks of a major announcement that all the funds needed to repair the sea wall, raise the site, extend harbour passage and redesign loyalist plaza have been secured. Furthermore he says construction will start this spring, very exciting!

https://www.cbc.ca/listen/live-radio/1-28/clip/15823018
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  #271  
Old Posted Feb 6, 2021, 7:14 PM
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Around the 4:40 mark Wayne talks about other projects he hopes to announce within 6 months to a year.
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  #272  
Old Posted Feb 6, 2021, 11:08 PM
NewIreland NewIreland is offline
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Quote:
Originally Posted by Joe View Post
Around the 4:40 mark Wayne talks about other projects he hopes to announce within 6 months to a year.
I wonder if there's any chance Moosehead might move their small batch brewery once this thing gets going. Their current location is nice enough, but uptown would be so much better.
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  #273  
Old Posted Feb 18, 2021, 11:52 PM
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  #274  
Old Posted Feb 19, 2021, 2:33 AM
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ColSJ ColSJ is offline
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This is purely a guess but I’d imagine if all goes to plan between the money invested in prepping the site and developing the land, this would be the largest private sector investment in a residential/commercial complex New Brunswick has ever seen. If not the largest it would have to be in the top 5.
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  #275  
Old Posted Feb 19, 2021, 4:06 PM
adamuptownsj adamuptownsj is offline
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Telegraph Journal has the Feds finally announcing money and early stage projects- pedway extension, Loyalist Plaza, and 700m of Harbour Passage gap-filling.

It's finally happening!!
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  #276  
Old Posted Feb 19, 2021, 4:27 PM
RR Drummer RR Drummer is offline
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Official News Release from Gov of NB website.

https://www2.gnb.ca/content/gnb/en/n...1.02.0121.html
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  #277  
Old Posted Feb 19, 2021, 5:15 PM
DyAm00394 DyAm00394 is offline
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Also, here is a Huddle Today article about this announcement:


Governments Commit $24-Million To Prepare Waterfront Site For Development
https://huddle.today/governments-com...r-development/

Quote:
" The long-awaited government funding to help redevelop Fundy Quay in uptown Saint John finally arrived on Friday.

The funding will get the site ready for a proposed $300- 350-million multi-use development on the former Coast Guard site along the city’s waterfront.


The federal government will be contributing $9-million; the New Brunswick government will be contributing $6-million and the City of Saint John will also be contributing nearly $9-million to the project.


The funding will go towards necessary infrastructure work to make the site development-ready. This includes contaminated soil remediation, site re-grading and seawall refurbishments at the site, along with the redesign of Loyalist Plaza and the extension of Harbour Passage around Fundy Quay.


It’s been just over a year since the city council signed an agreement with Fundy Quay Developments to develop the former Coast Guard site. The proposed multi-use development featuring commercial and residential spaces is being led by local developer Dr. David Elias.


“Since early on in the process the mayor and the city have clearly identified the redevelopment of Fundy Quay as a strategic priority for Saint John,” said Premier Blaine Higgs during the announcement, which was hosted via Zoom.


“This is a great example of what we’re seeing around the province in terms of private sector investment and I’m very proud of our Saint John caucus that has championed this project so diligently and tirelessly throughout.”


Higgs said that during the 10-year development period, $138.1-million in total GDP is expected to be generated and 2,000 jobs are expected to be created. He also said $21.4-million in provincial government revenue is expected to be generated from the project as well.


The infrastructure work is expected to begin on the site this spring/summer, with the construction of the development’s first building to follow.


“We hope to see foundation starting probably within 24 months and start to see it come out of the ground after that,” said Dr. Elias, during the announcement.


Dr. Elias said the development will be done in five phases over 10 years, the first being a $50-million building.


“Our goal was to achieve this and make it sustainable and that’s why we are making small commitments that are tied to a larger vision,” he said.


“We’re doing this in stages so we know that that first stage that we’re talking about, that initial building, it’s completely within our capacity and the demands and the requirements for our community from both an economic perspective and from a market perspective.”


The Fundy Quay development has had a few false starts, including the province initially turning down funding for the project last March, putting the future of the project in question. But Saint John-Rothesay MP Wayne Long said with today’s announcement, it’s a done deal.


“This is different because we have a tangible signed agreement with the province, with Develop Saint John to move forward. I certainly realized there’s certainly been a lot of false-starts in the past,” said Long. “This is real. All three levels of government are aligned, we’ve worked well together on this project there’s absolutely no doubt in this one”


Long also said having a local reputable developer leading the project also makes it different.


“I think all of us are extremely excited that we have a local friend and developer like David Elias with a reputation for getting things done and making things happen at the table,” he said.


“That’s the game-changer for all of us to have somebody of his caliber with a track record [he] has with his family to move this project forward. You can absolutely put this on one the bank for sure.”
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  #278  
Old Posted Feb 19, 2021, 5:29 PM
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ColSJ ColSJ is offline
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Point of note: Elias mentions he hopes to have the foundation of the first building built within 24 months. Also the $50 million price tag means the first building is going to be significant in size and quality.
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  #279  
Old Posted Feb 19, 2021, 6:03 PM
Monctoncore Monctoncore is offline
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Quote:
Originally Posted by ColSJ View Post
Point of note: Elias mentions he hopes to have the foundation of the first building built within 24 months. Also the $50 million price tag means the first building is going to be significant in size and quality.
I am looking forward to this development! Saint John is a beautiful city and this project has been a long time coming.
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  #280  
Old Posted Feb 19, 2021, 6:06 PM
adamuptownsj adamuptownsj is offline
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I hope we start to see tentative layouts soon. I presume Peters Wharf and Ward St will be stopped up and whatever street reemerges will simply be named Fundy Quay.
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