[Moncton] Downtown Developments

[MonctonRad]

Originally Posted by jonny golden

Depending on what & when the first phase is, could Ashford work on both that and a Robinson Street building at the same time? And who knows if they'd even be interested in acquiring this extra property.

I think when the time comes, and Ashford starts work on the Downing Street project, that they will be fully invested in seeing that through, and would not have any time to deal with anything else in the downtown core.

This is a generational, transformational project for the city of Moncton, encompassing a full (large) city block, with multiple multi storey buildings, including a signature tower. This project will take 5-10 years to build out.

I doubt that Ashford will be interested in the former Galco site. Similar with ICON. They will be invested in the Infinity Tower. Lafford still has the Third Sister and the Gateway Towers (let alone the former Timmies site).

All three of these developers have their hands full. It will have to be someone else.

[jonny golden]

CBC:

The vote will see the city complete the repurchase in October. However, the city may not own it for long.

Let's hope that there is good interest in the property and that we get a nice development added to our downtown. 6-8 floors would make a great impact.

Galco's proposed building required the committee to approve eight bylaw variances.

City council had previously approved several variances, so hopefully that will make the property somewhat more desirable.

So if not ICON, Ashford, or Lafford, then who would be the probable contenders?

[josh_cat_eyes]

A few options that come to mind:

Quest (who has several developments in Dieppe)
Corey Craig Group
Killiam Properties REIT
The developer of the buildings along Millennium Blvd.
The developer of Junction Urban Village
The developer of the Tomato building
The developer of St. Bernard’s Square
APM (unlikely, but they are a large developer in PEI)
There is a lot of developers in Halifax that could step up and buy this lot as well.

[jonny golden]

I'm not sure what's going on with Thrive Properties, but as far as scale goes, this project would be an appropriate sized building for them to undertake.

[Riberview]

Originally Posted by jonny golden

I'm not sure what's going on with Thrive Properties, but as far as scale goes, this project would be an appropriate sized building for them to undertake.

Doubt you'll see them involved in much, sadly.

[sailor734]

Originally Posted by josh_cat_eyes

A few options that come to mind:

Quest (who has several developments in Dieppe)
Corey Craig Group
Killiam Properties REIT
The developer of the buildings along Millennium Blvd.
The developer of Junction Urban Village
The developer of the Tomato building
The developer of St. Bernard’s Square
APM (unlikely, but they are a large developer in PEI)
There is a lot of developers in Halifax that could step up and buy this lot as well.

Has Killam ever actually built anything from scratch? Around SJ they seemed to just buy existing properties......and even that seems to have come to a halt in recent years.

[MonctonRad]

Originally Posted by sailor734

Has Killam ever actually built anything from scratch? Around SJ they seemed to just buy existing properties......and even that seems to have come to a halt in recent years.

Ditto for Moncton.

[sailor734]

Originally Posted by MonctonRad

Ditto for Moncton.

I was wondering about Killam the other day. I owned some shares (then units) for quite awhile. Seems like they grew like gangbusters for some time and then sort or stopped.