[Moncton] Northwest/Magnetic Hill Developments

[EnvisionSaintJohn]

Wouldn't Shediac area be the more logical place to build high rises away from the city centre of Moncton? The ocean views could be quite nice, and valuable.

I believe Magentic Hill is at a more prominent elevation than the rest of Moncton area, but even if the ocean could be seen from a high rise there, it would be a bit of a stretch to call it ocean views.

[jnaygull]

Originally Posted by MonctonRad

I would prefer the density downtown myself, but, I have enough information from my source to consider this a legitimate possibility. I can't say any more without compromising the source.

More will come to light in the next couple of months.

One things for sure, if we start seeing density like this out in Magnetic Hill, Sobeys will likely build on that piece of land they own next to the Home Furnishings store. There's enough land there for a nice retail plaza.

Looking at the PANB website, there's been some recent land acquisitions going on in the area behind Ihop and Petro (including space for Corey Craig Dr to be extended to Charles Lutes). Definitely a lot of room for development there.

https://paol-efel.snb.ca/paol.html?lang=en&pan=06675104

[MonctonRad]

Originally Posted by jnaygull

Looking at the PANB website, there's been some recent land acquisitions going on in the area behind Ihop and Petro (including space for Corey Craig Dr to be extended to Charles Lutes). Definitely a lot of room for development there.

https://paol-efel.snb.ca/paol.html?lang=en&pan=06675104

This fits with the information I have.

[new kid in town]

Originally Posted by MonctonRad

Greater Moncton is a multi-nodal city with distributed development. Some cities are like that. This is to the detriment of the core, but, gives residents lots of options.

Magnetic Hill is just becoming one of the more far flung nodes.

I agree with your sentiment that while the core could use more densification, I also like the idea that Moncton as a whole can have high rises in different areas. Especially one on the opposite end of the city as it acts like a gateway, a sentinel, or a preview of what to expect from our core. Where we once lamented our "downtown" was just one street, we would be able to say the city is bustling elsewhere too. And the elevation in that area would definitely add to the prestige.

Originally Posted by EnvisionSaintJohn

Wouldn't Shediac area be the more logical place to build high rises away from the city centre of Moncton? The ocean views could be quite nice, and valuable.

I believe Magentic Hill is at a more prominent elevation than the rest of Moncton area, but even if the ocean could be seen from a high rise there, it would be a bit of a stretch to call it ocean views.

Shediac is indeed prime location, but I think until it is officially part of the Moncton CMA, it seems like they prefer to stick to the small town charm they have going on.

[MonctonRad]

Another source has come forward with additional information, again, nothing I can publicly comment upon at present but, I now know who the developer will be and, I have no doubt that something major is planned for out by the Casino. Magnetic Hill is about to get an honest to goodness skyline!

[jnaygull]

Originally Posted by MonctonRad

Another source has come forward with additional information, again, nothing I can publicly comment upon at present but, I now know who the developer will be and, I have no doubt that something major is planned for out by the Casino. Magnetic Hill is about to get an honest to goodness skyline!

So bizarre.

When the casino was built, there was a lot of controversy that it was not built downtown. Here we are, 15 or so years later, and we could conceivably have a new "uptown" arguably created because of the casino?

[Leroy321]

Originally Posted by MonctonRad

Another source has come forward with additional information, again, nothing I can publicly comment upon at present but, I now know who the developer will be and, I have no doubt that something major is planned for out by the Casino. Magnetic Hill is about to get an honest to goodness skyline!

With the information about who the developer is do you think they could start by this year?

[jonny golden]

Originally Posted by MonctonRad

Another source has come forward with additional information, again, nothing I can publicly comment upon at present but, I now know who the developer will be and, I have no doubt that something major is planned for out by the Casino. Magnetic Hill is about to get an honest to goodness skyline!

Has a Lafford vibe to it. But he already has sooooo much on his plate.

[MonctonRad]

Originally Posted by jonny golden

Has a Lafford vibe to it. But he already has sooooo much on his plate.

Not Lafford.

[MonctonRad]

Originally Posted by Leroy321

With the information about who the developer is do you think they could start by this year?

This year would be ambitious I would think.

[MonctonPerson]

The land another poster noted as recently sold is owned by CG Group, which is involved in the series of new apartment buildings on Millennium.

[MonctonRad]

Originally Posted by MonctonPerson

The land another poster noted as recently sold is owned by CG Group, which is involved in the series of new apartment buildings on Millennium.

Wow. You guys are good. It only took about 8 hours after the tip rolled in for the SSP detective squad to figure out the who, what and where of this possible development.

This is the land in question:



A recently purchased parcel on the SW corner of Charles Lutes Road and a future extension of Corey Craig Drive just behind the Petro-Canada service centre at the TCH/Mountain Road interchange at Magnetic Hill

The purchaser was CG Group, which is the principal behind the Franklin Yards development on Millennium Boulevard across from the sportsplex lands.

This is very important. If there is any development company in the metro area as aggressive and organized in seeing their projects through as Lafford (and ICON) is, it would be CG Group. The Franklin Yards is a true construction assembly line. If CG is involved, then this proposal is a very, very serious one.

The rumour is two residential towers, 15 & 16 storeys tall. The construction timeline is uncertain. Will they wait until the Franklin Yards are completed before starting, or will they begin sooner than this. I expect it will take another 2-3 years for complete buildout of the Franklin Yards.

My source (who has not been compromised by the SSP sleuthing) thinks he will have more detailed information within the next couple of months.

[AGGUS]

It may be unrelated, but the property to the NE and the split PAN to the East and SE (broken by the access road perhaps) all appear to have been sold on the same day as the one you highlighted....

Originally Posted by MonctonRad

Wow. You guys are good. It only took about 8 hours after the tip rolled in for the SSP detective squad to figure out the who, what and where of this possible development.

This is the land in question:



A recently purchased parcel on the SW corner of Charles Lutes Road and a future extension of Corey Craig Drive just behind the Petro-Canada service centre at the TCH/Mountain Road interchange at Magnetic Hill

The purchaser was CG Group, which is the principal behind the Franklin Yards development on Millennium Boulevard across from the sportsplex lands.

This is very important. If there is any development company in the metro area as aggressive and organized in seeing their projects through as Lafford (and ICON) is, it would be CG Group. The Franklin Yards is a true construction assembly line. If CG is involved, then this proposal is a very, very serious one.

The rumour is two residential towers, 15 & 16 storeys tall. The construction timeline is uncertain. Will they wait until the Franklin Yards are completed before starting, or will they begin sooner than this. I expect it will take another 2-3 years for complete buildout of the Franklin Yards.

My source (who has not been compromised by the SSP sleuthing) thinks he will have more detailed information within the next couple of months.

[EnvisionSaintJohn]

Originally Posted by new kid in town

Shediac is indeed prime location, but I think until it is officially part of the Moncton CMA, it seems like they prefer to stick to the small town charm they have going on.

High rises and mid rises don’t necessarily need to detract from the charms of the town, Old Orchard Beach, ME is every bit as charming as Shediac, NB, and around the same size, but they have quite a few mid rises and high rises to take advantage of their coastal views. I think Shediac could do the same while retaining the charms of their town.

Anyways, sounds great Moncton is keeping up the momentum with the high rise developments… Saint John really needs to try and emulate Moncton’s successful strategy to build upwards.

[Monctoncore]

Originally Posted by EnvisionSaintJohn

High rises and mid rises don’t necessarily need to detract from the charms of the town, Old Orchard Beach, ME is every bit as charming as Shediac, NB, and around the same size, but they have quite a few mid rises and high rises to take advantage of their coastal views. I think Shediac could do the same while retaining the charms of their town.

Anyways, sounds great Moncton is keeping up the momentum with the high rise developments… Saint John really needs to try and emulate Moncton’s successful strategy to build upwards.

I have full faith Saint John will, just takes the right developers with a view and a dream. Saint John Uptown being on a hill, has so many benefits, even midsize 10-15, will stand out and look huge. Keep faith!

[MonctonRad]

Originally Posted by AGGUS

It may be unrelated, but the property to the NE and the split PAN to the East and SE (broken by the access road perhaps) all appear to have been sold on the same day as the one you highlighted....

Interesting. The lot highlighted in my post was from the link in jnaygull's post. If all the other lots bounding the Corey Craig Drive extension were sold the same day, it would make sense that they were all purchased by CG Group. If so, this hints at an even larger development potential, and we all know about what CG is doing with the Franklin Yards (11 buildings total at full buildout).

There could be a lot more going on here than just two residential towers.

[jnaygull]

Originally Posted by MonctonRad

Interesting. The lot highlighted in my post was from the link in jnaygull's post. If all the other lots bounding the Corey Craig Drive extension were sold the same day, it would make sense that they were all purchased by CG Group. If so, this hints at an even larger development potential, and we all know about what CG is doing with the Franklin Yards (11 buildings total at full buildout).

There could be a lot more going on here than just two residential towers.

With so much traffic (highway and tourist) I could definitely see some sort of mixed-use aspect with some retail involved. Something along the lines of the Riverview Place (Mall) transformation.

[MonctonRad]

Originally Posted by jnaygull

With so much traffic (highway and tourist) I could definitely see some sort of mixed-use aspect with some retail involved. Something along the lines of the Riverview Place (Mall) transformation.

Absolutely, especially fronting on Casino Drive. I'm sure IHOP would appreciate some adjacent commercial/retail development to help drive traffic.

[Riberview]

A far cry from the trailer park that used to occupy this property 35 years ago.

[jonny golden]

With CG Group entering the list of developers erecting 10+ floor buildings in Moncton, it got me thinking about Thrive Properties. Now that The Oak, and The Tides buildings are completed, I wonder if they'll restart their development activities? And if they do, will they finally go higher than their traditional 6 storey buildings.

They were planning the 10 floor (The Current) in Riverview, so if they do start building again my bet is that they'll join the 10+ club.

Any thoughts?