[Moncton] Downtown Developments - Page 373

MonctonRad · #**7441** Posted **Nov 3, 2023, 4:54 PM**

That's the Landing at the Bend. I can't imagine this is anything more than a normal real estate transaction from one commercial property owner to another.

Somebody cashing out, and another owner moving in. I don't see any new development for this particular property.

Welcome to the forums BTW.

jonny golden · #**7442** Posted **Nov 3, 2023, 5:03 PM**

Seems like it would be a real estate investment move - there's no room to add anything to this lot.

However there's vacant land just to the west of this property that's been mentioned in the forums several times before.

Jfgodin8 · #**7443** Posted **Nov 3, 2023, 5:09 PM**

That would make sense and thanks! The fact it's facing the proposed 30-story building got me dreaming lol

MonctonPerson · #**7444** Posted **Nov 3, 2023, 6:27 PM**

Quote:

Originally Posted by Jfgodin8

Hey guys, I noticed on the SNB Property Assessment Online that 280-290-300 MAIN ST were sold on 2023-11-01 for 3,999,999$. Does anyone know anything about this? Those lots are prime real estate! Could there be something in the works?

https://paol-efel.snb.ca/paol.html?lang=en&pan=04378374

Property records show it was owned by Moncton Landing Nova Scotia Company and bought by a Tengchong Investment Inc. which has a home in Barrie, Ont. as its mailing address.

Here's the listing from earlier this year: https://www.bbrokers.ca/wp-content/uploads/2023/03/The-Landing-At-The-Bend_Flyer_03.21.2023.pdf

MonctonRad · #**7445** Posted **Nov 7, 2023, 2:40 PM**

Construction work has begun on the interior of Baci Italia across from the old MHS.

This building was recently sold, but there has been no real hint as to what it will be turned into. Does anyone have any new ideas???

josh_cat_eyes · #**7446** Posted **Nov 7, 2023, 7:08 PM**

^^ Who do the property records indicate that the new owner is?

MonctonRad · #**7447** Posted **Nov 7, 2023, 7:16 PM**

Quote:

Originally Posted by josh_cat_eyes

^^ Who do the property records indicate that the new owner is?

monctonperson may know.........

LewisVillis · #**7448** Posted **Nov 7, 2023, 7:24 PM**

Quote:

Originally Posted by MonctonRad

monctonperson may know.........

Wasn't it Tier Too, Doucette Holdings? I seem to recall going down a rabbithole and finding a pizza chain connected to them, but can't seem to retrace my rabbit tracks. Maybe I was just hungry.

MonctonRad · #**7449** Posted **Nov 7, 2023, 7:39 PM**

Quote:

Originally Posted by LewisVillis

Wasn't it Tier Too, Doucette Holdings? I seem to recall going down a rabbithole and finding a pizza chain connect to them, but can't seem to retrace my rabbit tracks. Maybe I was just hungry.

Actually, you are correct. MonctonPerson already did the trace. I forgot. Thanks.

MonctonPerson · #**7450** Posted **Nov 8, 2023, 1:29 PM**

Quote:

Originally Posted by LewisVillis

Wasn't it Tier Too, Doucette Holdings? I seem to recall going down a rabbithole and finding a pizza chain connected to them, but can't seem to retrace my rabbit tracks. Maybe I was just hungry.

Indeed, Tier Too Properties from Nova Scotia.

jonny golden · #**7451** Posted **Nov 8, 2023, 3:21 PM**

I wonder if Tier Too Properties will divide the Bacci building into separate units. Also curious to know if they had a tenant(s) lined up before they purchased the property.

Monctoncore · #**7452** Posted **Nov 8, 2023, 4:21 PM**

They are behind the new Microtel hotels one in Summerside and one in Antigonish. They have plans for another at the Halifax Stanfield International Airport. They also are connected to the Granite Centre here in Moncton. I don’t know much about what they have planned for that location, but they are very ambitious and seem to have a alot of plans.

MonctonRad · #**7453** Posted **Nov 8, 2023, 4:46 PM**

At the least, they seem to be a reputable firm. I am glad they are the ones taking over this property.

jonny golden · #**7454** Posted **Nov 8, 2023, 5:04 PM**

Quote:

Originally Posted by MonctonRad

At the least, they seem to be a reputable firm. I am glad they are the ones taking over this property.

Agreed. Looking at their website, I see West Royalty Suites in Charlottetown under the residential tab. This was a Thrive Properties development. Does this mean that Tier Too has purchased this property? I know that Thrive has been selling off some land recently.

In any event, the Bacci building has been obtained by a company that's seemingly in an expansion mode.

Monctoncore · #**7455** Posted **Nov 8, 2023, 7:09 PM**

Off topic from recent the recent conversation, but I would love a sneak preview from Ashford on their plans for downtown. The city has set aside $25 million for “downtown facilities” in 25/26, so that gives me the feeling Ashford won’t be doing anything until atleast 2025. The city mentioned 3 possible projects, so it’s hard to say, but it seems like we will be waiting another year or more. So why not get us excited by showing us a few rough ideas of what’s planned, doesn’t have to be final product, but a general idea would be nice. Speaking to you Ashford if you are listening haha.

MonctonRad · #**7456** Posted **Nov 8, 2023, 7:33 PM**

Quote:

Originally Posted by Monctoncore

Off topic from recent the recent conversation, but I would love a sneak preview from Ashford on their plans for downtown. The city has set aside $25 million for “downtown facilities” in 25/26, so that gives me the feeling Ashford won’t be doing anything until atleast 2025. The city mentioned 3 possible projects, so it’s hard to say, but it seems like we will be waiting another year or more. So why not get us excited by showing us a few rough ideas of what’s planned, doesn’t have to be final product, but a general idea would be nice. Speaking to you Ashford if you are listening haha.

I can guarantee you there are Ashford people who keep an eye on our forum. I know this for an absolute fact. You can rest assured they have seen your request.

jonny golden · #**7457** Posted **Nov 8, 2023, 8:41 PM**

Quote:

Originally Posted by MonctonRad

I can guarantee you there are Ashford people who keep an eye on our forum. I know this for an absolute fact. You can rest assured they have seen your request.

Meanwhile, they keep working on adding units to their residential portfolio. Campbell Street recently completed, Lorentz Drive 112 units slated to open sometime in 2024, then the second building on Lorentz with another 123 units. The timing of everything seems to be all in place. I think we'll see Ashford start their downtown work in that time frame - 25/26. Depending on the city infrastructure work of course.

Mattyyy · #**7458** Posted **Nov 9, 2023, 1:07 PM**

If the city is contributing towards a large project are large sums typically paid up front? I feel like in the past, for example with the downtown centre, the large contributions towards projects typically weren't due in the first year of construction but rather later into the projects. So could it be possible Ashford still breaks ground next year and the city is only expecting to pay $25,000,000 a year into construction of a new market / convention centre? Any thoughts on this?

MonctonRad · #**7459** Posted **Nov 9, 2023, 1:18 PM**

I imagine the terms for any such arrangement are always negotiable.

Monctoncore · #**7460** Posted **Nov 9, 2023, 4:07 PM**

It’s hard to say, Ashford did mentioned that they may release phase one plans this past spring. That didn’t happen, so I would assume maybe over the winter or next spring they will release something. I feel as if they are waiting on the city to start reconstruction of the grid, along with Downing Street.

According to city infrastructure plans they are currently working on moving sewage lines that run through the Assumption parking. That’s I think the first big hurdle.