[Saint John] Uptown Thread

[bridgeoftea]

Originally Posted by sailor734

Heard on the radio today that the glass has been delayed. Didn't catch if there was any updated delivery date. I drove by there today.....still looks far from finished. I'm guessing next year.

You really have to feel sooty for the boardwalk businesses being at the mercy of a project like this creeping along at "government" speed.

As long as it's completed by May I don't think it will be that much more of an inconvenience. I do think if it impacts the summer months again, business along the boardwalk will be in uproar.

[homebody]

Originally Posted by sailor734

Heard on the radio today that the glass has been delayed. Didn't catch if there was any updated delivery date. I drove by there today.....still looks far from finished. I'm guessing next year.

You really have to feel sooty for the boardwalk businesses being at the mercy of a project like this creeping along at "government" speed.

Ya know its hard to keep believing the whole supply chain issues thing. It seems like every time there is a delay or a screw up on a project they use this excuse. I don't buy it, and neither should anyone else. This part of project has been planned for how long? a year maybe two? you mean to tell me that whoever does the planning didn't reach out to suppliers in a timely manner knowing what the world is like post pandemic? Sailor734 is right. It is going at a snails pace right now someone dropped the ball and it's the businesses that feel the pain. They say update by the end of the year! I say BS! They have stopped laying pavers now for weeks, and how close is the area going down to the water from being finished?

[darkharbour]

Originally Posted by homebody

Ya know its hard to keep believing the whole supply chain issues thing. It seems like every time there is a delay or a screw up on a project they use this excuse. I don't buy it, and neither should anyone else. This part of project has been planned for how long? a year maybe two? you mean to tell me that whoever does the planning didn't reach out to suppliers in a timely manner knowing what the world is like post pandemic? Sailor734 is right. It is going at a snails pace right now someone dropped the ball and it's the businesses that feel the pain. They say update by the end of the year! I say BS! They have stopped laying pavers now for weeks, and how close is the area going down to the water from being finished?

That's not true, I go past every day of the week and have seen demonstrable progress of the pavers on both sides of the new stage. If anything I'd say the progress on the whole areas has really ramped up inthe past month. I know they are separate contracts, but Harbour Passage continues to see major progress on the lighting install, interpretive stops, small ampithetre area, etc., meanwhile the landscaping and planting of trees throughout has also taken place while work on the stage, patios, and tidal steps have all progressed visibly. That's not even including the movement toward building 1 of Fundy Quay, which is also picking up speed lately.

Supply chain issues are very much real, I've experienced them both in my professional work in multiple industries and even on a project at my home.

[homebody]

Originally Posted by darkharbour

That's not true, I go past every day of the week and have seen demonstrable progress of the pavers on both sides of the new stage. If anything I'd say the progress on the whole areas has really ramped up inthe past month. I know they are separate contracts, but Harbour Passage continues to see major progress on the lighting install, interpretive stops, small ampithetre area, etc., meanwhile the landscaping and planting of trees throughout has also taken place while work on the stage, patios, and tidal steps have all progressed visibly. That's not even including the movement toward building 1 of Fundy Quay, which is also picking up speed lately.

Supply chain issues are very much real, I've experienced them both in my professional work in multiple industries and even on a project at my home.

I stand corrected. I did walk by there today and seen some paver’s being installed. Really it’s a snails pace though. Yea the trees are planted and the gardens are in. The issue was the glass structure. I think with proper planning in advance this should not have been an issue. I believe the the whole thing was supposed to be done by the end of the year. Correct me if I’m wrong😊. I can’t see it though.

[DyAm00394]

So Slate Office REIT recently announced plans to sell assets, (calling it "Portfolio Alignment Plan"), which represent about 40 per cent of its gross leasable area, suspend distributions and amend its declaration of trust to raise the ceiling on its allowable debt.

"This plan will see the REIT divest non-core assets in certain Canadian markets that are not strategic for the REIT in the long term. Proceeds from the sales of these assets will go towards repayment of the debt and general liquidity of the REIT’s business operations. We refinanced or amended over $577 million of debt, which is nearly half of the REIT’s current debt stack.

“Looking ahead we want to own high quality assets with strong occupancy, tenants and cash flow in markets with economic tailwinds and stable office demand. We believe the Portfolio Alignment Plan that we are introducing will not only improve the REIT’s balance sheet and liquidity, but also enhance the portfolio composition resulting in a more focused and resilient REIT."

Source: https://renx.ca/slate-office-reit-unveils-major-portfolio-alignment-plan

I can see Brunswick Square being sold soon then. Hopefully a new owner will have solid commitment to a redevelopment plan.

[MonctonRad]

Good riddance to bad rubbish. I don't think Slate ever had any real interest in maximizing the potential of Brunswick Square.

Whoever purchases the property now will have to contemplate a complete reinvigoration from the ground up (a fork-lift upgrade). The current state of Brunswick Square is just sad, sad, sad...........

[sailor734]

Originally Posted by MonctonRad

Good riddance to bad rubbish. I don't think Slate ever had any real interest in maximizing the potential of Brunswick Square.

Whoever purchases the property now will have to contemplate a complete reinvigoration from the ground up (a fork-lift upgrade). The current state of Brunswick Square is just sad, sad, sad...........

Agreed. It was straight downhill for Brunswick Square since the day Slate took over.

Suspending distributions, raising debt ceiling and selling off assets.....sounds like they are on shaky ground at best.

I'm not sure what a reinvigoration of Brunswick Square would look like. Is the upscale urban mall model still viable in 2023 or would it need to be repurposed?

[cdnguys]

Originally Posted by sailor734

Agreed. It was straight downhill for Brunswick Square since the day Slate took over.

Suspending distributions, raising debt ceiling and selling off assets.....sounds like they are on shaky ground at best.

I'm not sure what a reinvigoration of Brunswick Square would look like. Is the upscale urban mall model still viable in 2023 or would it need to be repurposed?

Outlet shopping like Freeport, ME. Build it and maybe the customers will come. Take a % of sales instead of rent to minimize risk for retailers to open up.

[sailor734]

Originally Posted by cdnguys

Outlet shopping like Freeport, ME. Build it and maybe the customers will come. Take a % of sales instead of rent to minimize risk for retailers to open up.

Maybe but have you been to Freeport lately? I was there last summer (first time since Covid) and was shocked at the change. Plenty of empty storefronts and sparse crowds on a sunny August day.....very different from the hay days of the 80's/90's/early 2000's.

I'm not sure if it's just Covid or if the whole Outlet Mall thing has had it's day. We used to go to Kittery and Freeport for Christmas shopping every November years ago and they were booming. Recent years (even pre Covid) and not so much.

If the Uptown population continues to grow what about services? Things like a compact urban sized grocery store, pharmacy, cleaners/laundry, seamstress/tailor, hair salon, medical offices, spa etc etc.

[cdnguys]

Originally Posted by sailor734

Maybe but have you been to Freeport lately? I was there last summer (first time since Covid) and was shocked at the change. Plenty of empty storefronts and sparse crowds on a sunny August day.....very different from the hay days of the 80's/90's/early 2000's.

I'm not sure if it's just Covid or if the whole Outlet Mall thing has had it's day. We used to go to Kittery and Freeport for Christmas shopping every November years ago and they were booming. Recent years (even pre Covid) and not so much.

If the Uptown population continues to grow what about services? Things like a compact urban sized grocery store, pharmacy, cleaners/laundry, seamstress/tailor, hair salon, medical offices, spa etc etc.

Haven’t been to Freeport in years but with online shopping your prob right - dying retail idea. Another idea would be like an IKEA type store where it’s a showcase / fulfilment centre / marketing office so they don’t rely just on walk in retail sales. Or some sort of Amazon living lab kinda place. Or a University of Phoenix campus

[JakeNB]

Originally Posted by sailor734

If the Uptown population continues to grow what about services? Things like a compact urban sized grocery store, pharmacy, cleaners/laundry, seamstress/tailor, hair salon, medical offices, spa etc etc.

I agree with this. My idea is a medical mall. They have a start with a drug store and a dental office. Expand this to include doctor’s offices, optical outlets, chiropractors, physiotherapists, massage therapists, etc. Would be a major draw and coukd service the growing uptown population.

[cdnguys]

[IMG] thank you jpg images[/IMG]

[DyAm00394]

This was posted on Facebook today:

“Steepleview Apartments construction has begun. Iron Maple Construction has moved on site to bring this six story mixed housing development to occupancy in 18 months if not sooner.

56 apartments, a Day Care, Wellness Gardens, Green space, Council 937 Knights of Columbus offices, underground parking, 2 commercial areas and a large community room.

Apartments are now renting with individual apartment designs to follow shortly.

Our Architect, Robert Boyce will be providing additional landscape views of this $23,000,000.00 development.

Please view our new site regularly for updates and information”.

https://www.facebook.com/share/smFRAxT1RrgNqhBy/?mibextid=K35XfP

[adamuptownsj]

Nothing all spring and summer and we get pile driving at Fundy Quay, excavation at Barrack Green, and a start on Steepleview within ten days. Cool, but strange. Good to see one in each neighbourhood.

77 + 39 + 56 units between the three for a total of 172, if I'm not mistaken.

FYI we are still on track for a March start for Waterloo Lofts, which is pretty locked in at 54 units.

[DyAm00394]

Telegraph Journal is reporting that actually a Fredericton-based developer, (Erik De Jong), is who bought both the former St. Vincent School and St. Patrick's schools.

“Both will be turned into multi-unit residential buildings with an affordable housing element, said DeJong, who said he already has experience building apartment buildings and commercial properties.

De Jong said he expects his project to turn the former St. Vincent’s high school into 60 to 70 apartment units will take about two years to realize, with preliminary cost estimates at $14-16 million”.

https://tj.news/saint-john-south/single-residential-developer-takes-on-two-former-schools

[adamuptownsj]

I guess I was wrong, maybe the Moncton connection came from being Thrive's director of development? A Paul Jenkins from Charlottetown is his business partner.

Either way I am less confident than I was... two massive reno projects purchased, plus the Rainsford Gardens Apartments (250 Rainsford) in Fredericton. That's a ton to take on at once, for a new company. He says 18 month timeline for St. Pat's and 2 years for St. Vincent's. Nothing about a start date though.

[cdnguys]

Originally Posted by adamuptownsj

I guess I was wrong, maybe the Moncton connection came from being Thrive's director of development? A Paul Jenkins from Charlottetown is his business partner.

Either way I am less confident than I was... two massive reno projects purchased, plus the Rainsford Gardens Apartments (250 Rainsford) in Fredericton. That's a ton to take on at once, for a new company. He says 18 month timeline for St. Pat's and 2 years for St. Vincent's. Nothing about a start date though.

No not wrong. Erik DeJong is the one developing apartment buildings to the right of the XTR property on Loch Lomand Rd (not to be confused with project currently before PAC across the way). He has well known Moncton/Riverview projects.

[adamuptownsj]

Originally Posted by cdnguys

No not wrong. Erik DeJong is the one developing apartment buildings to the right of the XTR property on Loch Lomond Rd (not to be confused with project currently before PAC across the way). He has well known Moncton/Riverview projects.

My bad- I was thinking of the frequently-revised 1429 Loch Lomond project. And 250 Rainsford is wrong-- AllNB failed me. He bought the Sarah's Lane land here, right? https://paol-efel.snb.ca/paol.html?v=1.0.37&lang=en&pan=06291219

[cdnguys]

Originally Posted by adamuptownsj

My bad- I was thinking of the frequently-revised 1429 Loch Lomond project. And 250 Rainsford is wrong-- AllNB failed me. He bought the Sarah's Lane land here, right? https://paol-efel.snb.ca/paol.html?v=1.0.37&lang=en&pan=06291219

Not sure about Fredericton. Looks like Erik incorporated “City Line Holdings” - I assume based on street St Pats is on. That’s 3 major projects by this one developer so lots of confidence in future demand.

[adamuptownsj]

AllNB says SableARC is the architect, both projects are going ahead concurrently, and they seem to be starting design. Feeling more confident. Spring starts?

I'm kind of interested in 115 Hazen now (the old Medical Arts building). Once St Vincent's goes through first and second rezoning reading, I might sniff around...