Quote:
Originally Posted by tmacdougall
In a recent Facebook post, Moncton city counselor Dawn Arnold has been quoted as saying, "This centre will completely revitalize the west end of our downtown. There are many developers in that area simply waiting to see what is going to happen…sometimes a City has to take the first step to get things going."
In your opinion, what developers are simply waiting and what are the projects do think could move ahead after the development of the downtown multifunctional centre?
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Two I can think of for sure:
(1)-
Crombie REIT - they own the terminal plaza development right next door, and recently renovated 1234 Main Street to house Tangerine Bank (amongst others). They also want to renovate 1222 Main Street as well. In addition, they retained ownership of that portion of the old Highfield Square property where the Sobeys used to be. I don't think they would have done that unless they had plans for it. I suspect that when 1222 Main is renovated, that they will connect it to 1234 Main and extend the property to also include a mixed use development where the old Sobeys used to be. All these properties are closely adjacent and immediately next to the west side of the proposed events centre property.
(2)-
Aquillini Group - they own the entire block where the Crowne Plaza Hotel is located. Again, I suspect a large mixed use development incorporating the existing hotel. I have no idea what their ultimate plans are, but the Aquillini's are well respected major developers based in Vancouver. They own the Vancouver Canucks as well as the arena they play in. They are a serious development company.
Otherwise, the old Coast Tire property across the street is being held by a developer awaiting interest. Also, the property on the southwest corner of Vaughn Harvey/Main has also recently been purchased by a developer as well. All these properties are awaiting final decision on the events centre.
The events centre may end up costing $100-150M to build, but it seriously could unlock an additional $250M in private development in adjacent properties.
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