The Official Saint John, NB Project Thread

[DyAm00394]

I saw this thread was posted over on X, (formerly Twitter). It's images showing the scaling of some of SJ's largest developments that are under construction or planned.

The account this was posted by over on X: https://twitter.com/COB16_

"Visualizing the scale of Saint John’s largest developments…"

"A full buildout of Technology Drive would add ~500 units to the area. Had to be strategic with the angle of this one to not reveal an unannounced project… 🤫"

I'm intrigued to learn more about this "unannounced project" that they mentioned they had to crop out/not include as to not reveal it yet.

"We’ve recently learned of the potential for a 12- storey building in Waterloo Village at Agar Place."

"If you rented out a unit on the top floor of the QSN development your view would look like this in ~10 years. Quite a transformation!"

[cdnguys]

The Technology Drive / Vistas developer has no immediate plans to start construction on phase 2.

[DyAm00394]

I see Telegraph Journal has posted a new article about 1 Bayard Street being converted from an office building into 25 senior residential units. In it they mention that the developer told them the other projects in the area he is working on is a 12-storey near Agar Place. So I take it the developer has confirmed he is going for a 12-storey instead of the 2 six-storeys.

https://tj.news/saint-john-south/proposa...urch-office-into-25-unit-seniors-housing

“Wowchuk is also working on other projects in the area, including a 12-storey development near Agar Place, at the site of the old Saint John general hospital, he said.

Planning advisory committee chair Brad Mitchell said he’s “excited” to see more housing in the Waterloo Village, saying “every one of those units is a step forward.”

“Hopefully it becomes affordable housing and we’re able to help the housing shortage that we’re having,” he said. “There’s quite a lot of activity there, but we have to get these things built and we have to get them soon.”

[sailor734]

What's the shaded in building in the first image between the old synagogue and Brunswick Sq tower? Looks like about where the Wellington is but these are "proposed" buildings right?

[DyAm00394]

Originally Posted by sailor734

What's the shaded in building in the first image between the old synagogue and Brunswick Sq tower? Looks like about where the Wellington is but these are "proposed" buildings right?

I think it is The Wellington. I believe I saw someone ask the person them what that one was and they said it's The Wellington. And these images are of developments proposed, being built, and already recently constructed buildings. Not just proposed. They've used Google Earth so it doesn't show already recently constructed buildings, so the person had to add them as a non-detailed box. It's all to illustrate what the skylines could look like when these developments are fully completed.

[sailor734]

I'm surprised (and perhaps just a tiny bit disappointed) to see how relatively low the Fundy Quay buildings look due to the harbour front location at the bottom of the King St hill. Not bad at all but definitely not quite as prominent as I would have hoped given the number of floors. They don't really seem to make a dramatic difference to the skyline.
It would be interesting to see a perspective from that classic view of uptown from the westside as you approach the bridge on the throughway.

[WhipperSnapper]

I'm in Toronto. Presumably, the fire codes are similar. It's a serious offense to put a propane tank in an elevator and carry a propane tank up an emergency stairwell/egress is also a code violation. Generally, barbeques should only be allowed on balconies if there is a exterior gas hook up

[DyAm00394]

In the upcoming Growth Committee Meeting on Tuesday, Feb.27th 2024, is a presentation about the CMHC 2023 Rental Market Report. Here are the highlights for SJ:

• Average rents increased from 2022 to 2023 by 9.8%, a rate higher than the national average of 8%.
  
  
• Vacancy rate is moving toward a healthier level of 2.4%, against trends seen in the other three cities. There appears to be a sustained demand in newer units.
  
  
• Affordability in the rental market continues to be a challenge requiring action to address identified housing gaps in the City’s Housing Needs Assessment for supportive housing, housing for the most vulnerable households, and affordable rental housing/ownership.
  
  
• To continue to grow the population and reach what is considered a healthy vacancy rate (3%), additional market housing is also needed.

Link to presentation: https://pub-saintjohn.escribemeetings.com/filestream.ashx?DocumentId=16927

[sailor734]

Originally Posted by DyAm00394

In the upcoming Growth Committee Meeting on Tuesday, Feb.27th 2024, is a presentation about the CMHC 2023 Rental Market Report. Here are the highlights for SJ:

• Average rents increased from 2022 to 2023 by 9.8%, a rate higher than the national average of 8%.
  
  
• Vacancy rate is moving toward a healthier level of 2.4%, against trends seen in the other three cities. There appears to be a sustained demand in newer units.
  
  
• Affordability in the rental market continues to be a challenge requiring action to address identified housing gaps in the City’s Housing Needs Assessment for supportive housing, housing for the most vulnerable households, and affordable rental housing/ownership.
  
  
• To continue to grow the population and reach what is considered a healthy vacancy rate (3%), additional market housing is also needed.

Link to presentation: https://pub-saintjohn.escribemeetings.com/filestream.ashx?DocumentId=16927

Reading between the lines it sounds like a certain segment people are moving out of older units into the new builds and that is where the improving vacancy rate is coming from.

I wonder how many of them would have been home buyers before the home price/ mortgage rate increases and sharp rise in cost of living?

[Pugsley]

Apparently one of the challenges being seen nationwide is baby-boomers selling their housing asset and wanting to rent. The baby-boomers are looking for newer and more modern rental communities. They are also willing to spend more having become flushed with cash from selling their homes at significantly higher values. Overall, it is causing a major gap as the homes they are selling are out of reach for many price-wise trying to enter the housing market while also eating up availability of newer construction apartments. Here, we also have the issue of immigration of baby-boomers from Ontario and Alberta where they are coming in with much more cash from their original home sale than say locals.

The baby-boomer demand for apartments is in-turn raising the overall rents for both NEW and existing units, forcing people struggling with affordability to see fewer options housing-wise.

[sailor734]

Originally Posted by Pugsley

Apparently one of the challenges being seen nationwide is baby-boomers selling their housing asset and wanting to rent. The baby-boomers are looking for newer and more modern rental communities. They are also willing to spend more having become flushed with cash from selling their homes at significantly higher values. Overall, it is causing a major gap as the homes they are selling are out of reach for many price-wise trying to enter the housing market while also eating up availability of newer construction apartments. Here, we also have the issue of immigration of baby-boomers from Ontario and Alberta where they are coming in with much more cash from their original home sale than say locals.

The baby-boomer demand for apartments is in-turn raising the overall rents for both NEW and existing units, forcing people struggling with affordability to see fewer options housing-wise.

I can easily believe that. I know of at least three empty nester/60+ year old couples who have sold the long time family home and moved into a relatively high end new built apartment. Some of these are people who might well have been condo buyers elsewhere in a different market.

[Pugsley]

Originally Posted by sailor734

I can easily believe that. I know of at least three empty nester/60+ year old couples who have sold the long time family home and moved into a relatively high end new built apartment. Some of these are people who might well have been condo buyers elsewhere in a different market.

THAT is probably the biggest issue of all. Because we are only focused on apartments and affordable rentals, we are eating away at the middle class right now and the near-term and longer-term impacts could be catastrophic. We desperately need more affordable condominiums or lower-cost townhomes that are not for rent, but that younger people and new immigrants (from outside ON/AB) coming here can afford.

If all we do is keep people in rental apartments, they will miss out on the opportunity to invest in a home - still the largest asset of most Canadians financially for retirement. If they don't have an affordable launch pad to grew independence and personal financial wealth, we are going to have a much bigger problem on our hands 20-25 years from now.

[DyAm00394]

Interesting, this popped up on CCD Canada. Looks like AIM is looking for a site to construct a new warehouse & storage facility somewhere here in New Brunswick.

[sailor734]

Curious if there are any new major buildings expected to break ground this spring. Obviously Fundy Quay and Steepleview (not sure if Steepleview qualifies as "major") but they're basically already underway.
St. Vincents is really more of a gut and reno so......anything I'm forgetting?

[cdnguys]

Originally Posted by sailor734

Curious if there are any new major buildings expected to break ground this spring. Obviously Fundy Quay and Steepleview (not sure if Steepleview qualifies as "major") but they're basically already underway.
St. Vincents is really more of a gut and reno so......anything I'm forgetting?

Adam’s building on Waterloo, the Barrack Green residences on Broadview. And then hopefully 99 King and Leinster/Crown.

[sailor734]

Originally Posted by cdnguys

Adam’s building on Waterloo, the Barrack Green residences on Broadview. And then hopefully 99 King and Leinster/Crown.

What's Adam's project? 5fl/45 units? Barrack Green is 4/39 I think. As for Leinster Crown has anyone heard anything in the past 6 months? It was proposed at 6 floors wasn't it? Someone was even suggesting last fall that it appears to have vanished.

99 King I will believe will happen someday but I'll believe a start date when I see concrete being poured.

When I said "major" I was thinking of things like Vistas, Venetian or larger.

[adamuptownsj]

Originally Posted by sailor734

What's Adam's project? 5fl/45 units? Barrack Green is 4/39 I think. As for Leinster Crown has anyone heard anything in the past 6 months? It was proposed at 6 floors wasn't it? Someone was even suggesting last fall that it appears to have vanished.

99 King I will believe will happen someday but I'll believe a start date when I see concrete being poured.

When I said "major" I was thinking of things like Vistas, Venetian or larger.

6 floors, 54 units at 208 Waterloo. Had to get a floor taller to make it economical to build. Spring looking dicey but mid-summer is where we're likely to start.

[sailor734]

With all the new building I'm curious as to what people think is the nicest/highest end building is SJ right now? Thinking of build quality, unit size, finishes in the units, building amenities etc.

Looking at some of the online websites. Wentworth seems to be the top in terms of size/amenities etc (especially the penthouse floor) but The Venetian would seem to be a contender.....just don't love the location and lack of views there. Vista units look smaller and no concierge but hilltop location is a plus. Can't really get a good sense of of the quality finish for any of them.

[sailor734]

Originally Posted by adamuptownsj

6 floors, 54 units at 208 Waterloo. Had to get a floor taller to make it economical to build. Spring looking dicey but mid-summer is where we're likely to start.

That's a respectable size.....looking forward to seeing it. This, along with St Vincents, Agar Place etc could potentially make a real difference to that neighbourhood.

[WagesNotPizzaParties]

Originally Posted by adamuptownsj

6 floors, 54 units at 208 Waterloo. Had to get a floor taller to make it economical to build. Spring looking dicey but mid-summer is where we're likely to start.

Adam, just out of curiosity, how do you go about deciding what contractor to build with?