[Moncton] St. Bernard Place | 18 Storeys | Proposed

[jonny golden]

I don't think that the cost of money is the problem with this developer, nor is it market conditions. The vacancy rates for this type of apartment in downtown Moncton is actually quite low. I think it's just the willingness to take on a big project. They have the experience with 6 floors and maybe they just want to repeat what they're comfortable with.

I was really pleased when they purchased the land from Frederick Properties way back in Feb 2021, as the project was going from 12 floors to 18. In hindsight, it would have been better to see the 12 floor building proceed instead of another one of these 6 floor boxes.

I think it would be great if Trevor Ritchie would just lose interest in this project all together and sell it to a credible developer who would proceed with the 18 floor plan, or have a change of heart and go ahead with his original proposal.