And if you want to read the T&T article on this big news story, here it is:
Rogers parking issue resolved
Tuesday, April 17, 2012
Times & Transcript
By: Brent Mazerolle
City of Moncton, developer come to terms; city buys out Beaver land obligations
After 10 years, Moncton city councillor Brian Hicks has gone from broken record to deal broker in just a few short weeks.
And with a new deal between the City of Moncton and Generation Place Inc., the city will pay $455,000 to get out of two expensive commitments that previous councils had agreed to in 2002 and 2005.
Resolving the issue clears the way for Generation Place, a partnership of Moncton's Ashford Properties and Toronto's Verdiroc, to get started on what's believed to be a major new development.
Read more:
http://22864.vws.magma.ca/index.php?&article_id=8790
So, if I'm correct, Ashford and Verdiroc were stymied from developing this site because of the ill advised parking deal with Rogers, which might have lasted as long as 50 years. But now, thanks to the efforts of Coun. Hicks, the land is now free of encumbrances and the development will be able to proceed.
When last heard, the plan was for a major mixed use development including an apartment building and a hotel. When you look at this and the ambitious plans for the Highfield Square site, and the potential for the Aquillini block, downtown will be in for quite a bit of change in the next 4-5 years or so.
