The Official Saint John, NB Project Thread

[DyAm00394]

Originally Posted by adamuptownsj

Beside the PetSmart is supposed to be the last piece of the Sobey's big-box block, right? The apartment buildings will be across East Point Way to the southeast.

That is correct. It's supposed to be an expansion to the Sobeys building for a new retailer according to chatter.

All that was done in the apartment building area was some excavation of rocks commencing but that was it. I haven't been in the area in a long while so don't know if any significant progress has been made or not.

In other East Point Shopping Center news, Booster Juice has recently opened a 3rd SJ location in the smaller building nearby, (next door to Taste of Egypt). And Pizza Studio closed, but is being replaced by Vito's. They are opening a smaller takeout-only location plus will be building a drive-thru.

Also looks like the Hammond River Brewery Tap Room that was supposed to open next to Celebrate won't be happening anymore, the company recently closed their doors permanently. And Allstate is/has moved into the old Synergy spot next to Cleve's Source For Sports.

[cdnguys]

Originally Posted by DyAm00394

That is correct. It's supposed to be an expansion to the Sobeys building for a new retailer according to chatter.

All that was done in the apartment building area was some excavation of rocks commencing but that was it. I haven't been in the area in a long while so don't know if any significant progress has been made or not.

In other East Point Shopping Center news, Booster Juice has recently opened a 3rd SJ location in the smaller building nearby, (next door to Taste of Egypt). And Pizza Studio closed, but is being replaced by Vito's. They are opening a smaller takeout-only location plus will be building a drive-thru.

Also looks like the Hammond River Brewery Tap Room that was supposed to open next to Celebrate won't be happening anymore, the company recently closed their doors permanently. And Allstate is/has moved into the old Synergy spot next to Cleve's Source For Sports.

I emailed Northrup a few months ago asking when they are starting. They said to please wait for their announcement.

[sailor734]

Originally Posted by DyAm00394

That is correct. It's supposed to be an expansion to the Sobeys building for a new retailer according to chatter.

All that was done in the apartment building area was some excavation of rocks commencing but that was it. I haven't been in the area in a long while so don't know if any significant progress has been made or not.

In other East Point Shopping Center news, Booster Juice has recently opened a 3rd SJ location in the smaller building nearby, (next door to Taste of Egypt). And Pizza Studio closed, but is being replaced by Vito's. They are opening a smaller takeout-only location plus will be building a drive-thru.

Also looks like the Hammond River Brewery Tap Room that was supposed to open next to Celebrate won't be happening anymore, the company recently closed their doors permanently. And Allstate is/has moved into the old Synergy spot next to Cleve's Source For Sports.

I know the guy that founded Hammond River Brewing. I believe he sold it last spring. Sure didn't last long under the new management.

[DyAm00394]

AllNewBrunswick has a new article “Largely Empty Place 400 Offered to Developers”. Anyone with access know what’s mentioned?

Update: Apparently it's for sale, ($6.2 million). And the selling point they are using is the potential for residential development.

[cdnguys]

Originally Posted by DyAm00394

AllNewBrunswick has a new article “Largely Empty Place 400 Offered to Developers”. Anyone with access know what’s mentioned?

Update: Apparently it's for sale, ($6.2 million). And the selling point they are using is the potential for residential development.

A lot of value in its parking lot off of Hilyard St - great spot for an apartment building overlooking the harbour and Ft Howe.

[sailor734]

Originally Posted by cdnguys

A lot of value in its parking lot off of Hilyard St - great spot for an apartment building overlooking the harbour and Ft Howe.

Is it still Northrup owned?

..........Or is that Hilyard Place I'm thinking of?

[cdnguys]

Originally Posted by sailor734

Is it still Northrup owned?

..........Or is that Hilyard Place I'm thinking of?

It’s their for lease sign n lawn in front of it

[DyAm00394]

Arthur Irving steps down as chairman of Irving Oil

"Could the company that owns Canada’s largest oil refinery be on the verge of a sale?

Speculation is growing about the future of Irving Oil after big leadership changes at the New Brunswick-based company.

The Globe and Mail reports that Arthur Irving has stepped down as chairman. He is now listed as chairman emeritus on the company’s website.

His daughter, Sarah Irving, has also resigned from her leadership roles, according to the newspaper report. She had been the company’s executive vice-president and chief brand officer.

Our newsroom has reached out to a spokesperson for the company to confirm the leadership changes.

David Campbell, an economic development consultant and New Brunswick’s former chief economist, suspects this is the lead-up to something bigger.

“It certainly looks like the company is moving more in the direction of some kind of big strategic move like a sale or a divestiture or something like that,” said Campbell, who co-hosts a podcast called Insights.

Irving Oil announced in June that it was conducting a strategic review of the business and that “a series of options are being evaluated related to the company’s future.”

The company said no decisions have been made about where the strategic review may lead but that several options are on the table.

They included a new ownership structure, a “full or partial sale,” and changing its portfolio and assets.

Campbell said he does not believe the company would have mentioned the possibility of a sale if it was not strongly considering it.

“That industry is in a state of flux right now, nobody knows what it’s going to look like. We’re going to be driving vehicles that require refined oil products for many years, but there is a finite shelf life,” he said.

“They’re trying to figure out what the best value is for their shareholders and for the family.”

If Irving Oil were to sell, Campbell expects one of the larger refiners would purchase the company, adding there has been talk of consolidating Canada’s refining sector for several years.

The concern, he said, is the potential economic impacts in Saint John, where the company’s refinery and headquarters are located, and throughout New Brunswick.

“This is kind of an existential moment in many ways. This is the largest exporter in the province and a major employer, directly and indirectly employing several thousand people in the Saint John area and across New Brunswick,” said Campbell.

“Hopefully whatever happens, it won’t have a lot of negative impacts on our province.”

https://www.country94.ca/2023/10/18/arthur-irving-steps-down-as-chairman-of-irving-oil/

[adamuptownsj]

MUCHO BIG NEWS -

I have it on excellent authority that St. Vincent's has been purchased by a New Brunswick-based private developer. I wish I knew more, but I do not.

[cdnguys]

Originally Posted by DyAm00394

Arthur Irving steps down as chairman of Irving Oil



https://www.country94.ca/2023/10/18/arthur-irving-steps-down-as-chairman-of-irving-oil/

Seems most employees believe it’s Cenovus that will be buying it.

[sailor734]

Originally Posted by cdnguys

Seems most employees believe it’s Cenovus that will be buying it.

Cenovus would certainly be one of the players that would make sense.

Lots of possibilities here.....everything being sold?......Just the refinery? ....refinery and wholesale distribution?

The refinery isn't going anywhere but the big question is what about all those other jobs at head office? Could be a very black day for Saint John.

[sailor734]

Originally Posted by adamuptownsj

MUCHO BIG NEWS -

I have it on excellent authority that St. Vincent's has been purchased by a New Brunswick-based private developer. I wish I knew more, but I do not.

A big deal if it is true. Hopefully a developer from Moncton.......you know, one of those developers that make announcements but then also actually build something.

[cdnguys]

Originally Posted by sailor734

Cenovus would certainly be one of the players that would make sense.

Lots of possibilities here.....everything being sold?......Just the refinery? ....refinery and wholesale distribution?

The refinery isn't going anywhere but the big question is what about all those other jobs at head office? Could be a very black day for Saint John.

I know Irving gets criticized a lot, but I’d imagine they’d only structure a deal that preserves jobs and talent in SJ. There isn’t much fat to cut at Irving except management in a sale. I wouldn’t be surprise if the company was simply taken public. The golden ball is full again, made up of teams looking at energy beyond carbon fuels and ICE cars.

[DyAm00394]

Originally Posted by adamuptownsj

MUCHO BIG NEWS -

I have it on excellent authority that St. Vincent's has been purchased by a New Brunswick-based private developer. I wish I knew more, but I do not.

Someone mentioned on Facebook that they've heard it's going to be apartments and condos.

[adamuptownsj]

Yep. No way it could be non-profit. 10' or wider hallways, cavernous classrooms, and so on. Too much wasted space for affordable. It would only work as something kind of high end. Not sure if it's still connected to the St Joe's heating system complex.

Now how about the views from St. Pat's over west... and at such a good price!

Also Cliff-related: apparently Steepleview is ready to start any time. They're just stuck in paperwork hell with the CMHC. No risk to the project, just the timelines.

[sailor734]

Originally Posted by adamuptownsj

Yep. No way it could be non-profit. 10' or wider hallways, cavernous classrooms, and so on. Too much wasted space for affordable. It would only work as something kind of high end. Not sure if it's still connected to the St Joe's heating system complex.

Now how about the views from St. Pat's over west... and at such a good price!

Also Cliff-related: apparently Steepleview is ready to start any time. They're just stuck in paperwork hell with the CMHC. No risk to the project, just the timelines.

But would the location work for higher end? Pretty sketchy neighbourhood.

[bridgeoftea]

Originally Posted by sailor734

But would the location work for higher end? Pretty sketchy neighbourhood.

This could be harsh, but if more "higher end" buildings start popping up in a certain area, I would assume over time, it would push the "sketchy areas" to a different part of the city.

[Pugsley]

Originally Posted by bridgeoftea

This could be harsh, but if more "higher end" buildings start popping up in a certain area, I would assume over time, it would push the "sketchy areas" to a different part of the city.

Maybe this isn't residential at all. Maybe it will be redeveloped into medical professional offices or sub-let to UNB/Dal admin given its proximity to the hospital? I'd imagine these would be more suitable uses given its proximity to St. Jo's.

[adamuptownsj]

Cliff and Paddock (not so much Peters, yet) have seen a TON of small scale investment in the last 12 months. The problem area is Waterloo itself, which has gotten much worse since they opened the 'harm reduction' center.

The former rooming house at 24 Paddock was converted to a 9-unit market rent. Next door at 22 Paddock, a serious SFH reno just sold for like $450,000. Across the street, 17 Paddock is getting some serious facade work started, and it's the ugliest one left. 76 Coburg at the top of Paddock has been totally redone. 53-55 Coburg is under reconstruction following the fire and has had extensive landscaping. All the vacant buildings around 75 Sewell are under construction. 99 Hazen is occupied and undergoing extensive repointing and repair. I will personally have 97 Hazen done and sold this year. Take a walk around and compare to the 2021 StreetView pictures on Google Maps.

I wonder what the plan for the gym is? Demolish it, leave as-is, or interior parking?

I'd love to sink my teeth into the Medical Arts Building at 115-117 Hazen. It's kind of intimidating lol.

@Pugsley- no way is UNB locating anything medical-related away from the under-construction Health and Social Innovation Centre. I'd like to see the Arts and Business programs move uptown, but this is more likely to be condos or apartments than anything.

[adamuptownsj]

I hate to double post, but no one mentioned the August groundbreaking for the Health and Social Innovation Centre. Not sure what the timeline is on this one.

https://blogs.unb.ca/newsroom/2023/08/breaking-new-ground.php