So, two forumers have come forward, both with information that a major development is in the works for the Steadman Street area.
What exactly do we know as of now:
This is the lot in question
- Homeowners on Steadman Street have been approached by a developer to sell their land to allow for a major project. Apparently a majority of owners have agreed.
- Sewage and infrastructure work may begin this year (perhaps in conjunction with the major work upcoming on East Main Street).
- The project timeline may take as long as five years (2030).
- The developer may be Nick Spataro (the developer behind FiveFive Queen).
- The building may be roughly twice the height of FiveFive Queen (so, in the 15-18 storey range).
I can believe that a project like this could belong to Spataro. I absolutely recall him saying at the time FiveFive was finishing up that he was open to doing another similar project elsewhere in downtown Moncton in the future. This block of land is only a block away from FiveFive Queen. Perfect location. Perfect synergy.
If this rumour is real, I can see a major mixed use development similar to FiveFive, only larger. It is on the NE corner of Main/Assumption at one of the most prominent intersections in the city. A signature development belongs here. I could see ground floor commercial/retail facing Main Street, and a tower with residential +/- hotel, just like FiveFive Queen.
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