The Official Moncton, NB Project Thread

[jonny golden]

Originally Posted by MonctonRad

Sorry, I didn't see the "commercial" bit.

Yes, you are correct. That would be institutional.

How about the rumoured Amazon fulfilment centre???

Question. When there is construction of an apartment building that has first floor commercial, is that all considered residential? What if there are 2 or 3 floors of commercial below a residential tower? Thanks.

[MonctonRad]

Originally Posted by jonny golden

Question. When there is construction of an apartment building that has first floor commercial, is that all considered residential? What if there are 2 or 3 floors of commercial below a residential tower? Thanks.

I don't know the legal answer to this question (and it is a good one), but, if the preponderant usage of a building is residential, then I would think it would be considered residential. A good example would be the proposed Infinity Tower which is supposed to be a 30 storey tower with a ground floor commercial podium.

[MonctonRad]

Not Moncton related, but I thought people might like to see what's coming for the old Dartmouth Shopping Centre at the foot of the MacDonald Bridge in HRM



The development is called Little Brooklyn, and includes seven buildings, including 2x36 storeys and 2x40 storeys, Other approved nearby buildings have been included in the render.

This kinda puts to shame what we have on the drawing board in Moncton.

[Taeolas]

Well Halifax does have more precedence for the taller buildings, and twice the population. So Moncton shouldn't be too shamed yet, considering what's in Moncton's pipeline.

Sure it would be nice to have more big projects like that ( ~180+ stories worth of construction), but what they do have coming is significant especially for Moncton.

Hopefully some of the big projects we know are in the works kick off in Moncton, and they'll further set the stage for Dartmouth Crossing sized projects in the future.

[MonctonGoldenTri]

Originally Posted by MonctonRad

Not Moncton related, but I thought people might like to see what's coming for the old Dartmouth Shopping Centre at the foot of the MacDonald Bridge in HRM



The development is called Little Brooklyn, and includes seven buildings, including 2x36 storeys and 2x40 storeys, Other approved nearby buildings have been included in the render.

This kinda puts to shame what we have on the drawing board in Moncton.

Impressive! despite Halifax having only double our population growth, they appear to have six to eight times more major construction projects underway. Either Moncton's construction is falling significantly behind, or Halifax is overestimating its future growth.

[jonny golden]

To me there is something that seems to be making Moncton run behind Halifax development wise. That is that we have a lot of projects in the pipeline that haven't gotten off the ground yet. Even taking into consideration the size difference, the Halifax region looks to be outperforming Moncton significantly. There's been speculation as to why our "pipeline" is full of un-started projects, but who knows really. There's a lot of different factors. It would be nice though if we could get something big off the ground this summer to get us excited!

[reflist]

Originally Posted by jonny golden

To me there is something that seems to be making Moncton run behind Halifax development wise. That is that we have a lot of projects in the pipeline that haven't gotten off the ground yet. Even taking into consideration the size difference, the Halifax region looks to be outperforming Moncton significantly. There's been speculation as to why our "pipeline" is full of un-started projects, but who knows really. There's a lot of different factors. It would be nice though if we could get something big off the ground this summer to get us excited!

I work for a window and door factory in Moncton and I can tell you since Feb/March, we have noticed a slow down in manufacturing orders in various departments, We still produce a lot but not at the level we'd typically see at this time of the year. When spring/summer is our high output times. We sell both to retailers and contractors in all of the Maritime provinces.

[jonny golden]

Originally Posted by reflist

I work for a window and door factory in Moncton and I can tell you since Feb/March, we have noticed a slow down in manufacturing orders in various departments, We still produce a lot but not at the level we'd typically see at this time of the year. When spring/summer is our high output times. We sell both to retailers and contractors in all of the Maritime provinces.

Do you have any indication as to why that would be? And is there an expectation of things to pick up later - like this is just a temporary lull? Thanks.

[someone123]

Originally Posted by MonctonGoldenTri

Impressive! despite Halifax having only double our population growth, they appear to have six to eight times more major construction projects underway. Either Moncton's construction is falling significantly behind, or Halifax is overestimating its future growth.

I lurk here but don't post often. One could write a book on this and I think what is going on is pretty complex. I don't think it's right to think of it as each city getting X new people and deciding how to house them.

Halifax is regulated in a way that pushes development toward urban infill, which results in lower overall population growth and higher housing costs along with more highrises. There's a lot of pent-up demand and it's easy to finance these buildings because rents in Halifax exploded roughly into the ballpark of some much larger cities. The relatively lower rate of growth in Halifax probably goes hand in hand with the towers. Of course the two cities are also just different.

[MonctonRad]

City of Moncton Press Release:

The City of Moncton is off to a strong start in 2025, with building permit activity reaching new heights. For the first quarter, ending March 31, a total of 209 permits were issued, representing a combined value of $198.6 million, more than triple the $56.6 million recorded during the same period in 2024.

Institutional and government projects led all sectors in total value, accounting for $120.6 million or 60 per cent of Q1’s permit volume. A standout project is the $112.1-million Phase 2 permit for the Atlantic Science Enterprise Centre at 343 Université Ave., which will include new labs and office space. This follows the $4.4-million permit issued in Q2 2024 for Phase 1, which encompassed excavation, groundwork, and site preparation. Additionally, a $6.4-million renovation of the hospital pharmacy at 330 Université Ave. highlights ongoing investment in essential healthcare services in our community.

Residential development remains a vital part of Moncton’s growth story. The first quarter saw 111 residential permits issued, adding 420 new housing units to the city’s market. This is 2.5 times more than the 164 units added during the same period last year. These developments accounted for $62.6 million in permit value and included two major multi-unit projects: a $17.3-million, 143-unit apartment building at 280 Millennium Blvd. and a $11-million, 77-unit apartment building at 30 Waterloo St.

“Our city continues to demonstrate strong momentum in meeting housing demands while investing in long-term infrastructure,” says Moncton Deputy Mayor Paulette Thériault. “This growth supports our vision for a vibrant, inclusive, and sustainable Moncton.”

The commercial and industrial sector also contributed significantly, with 37 permits issued totaling $14.7 million. Notable projects include a $5.6-million cross-dock and office expansion for Manitoulin Transport at 200 Babineau Blvd. and a $1.8-million self-storage warehouse at 15 Loustouk St.

“These results are a clear signal of investor confidence in Moncton,” says Luc Babineau, the City of Moncton’s director of economic development. “The level of public and private investment we’re seeing reflects our city’s strong fundamentals and strategic outlook for growth.”

The ASEC is the principle reason for the high valuation of the building permits in Q1

[reflist]

Originally Posted by jonny golden

Do you have any indication as to why that would be? And is there an expectation of things to pick up later - like this is just a temporary lull? Thanks.

Im just a general laborer so I dont have any advanced incite. But I think that it just that things are settling down. For example, the rate of growth the greater Moncton is beginning to slow its pace(thats not necessarily a bad thing as we now know what an accelerated pace looks like and its issues), we are not the only game in town either, and well the general economic outlook of the country is unpredictable. Millions of Canadians whom bought homes during the pandemic era are now soon looking at a mortgage rate renewal and many of them are going to be shocked at what they will pay.

[adamuptownsj]

Originally Posted by reflist

Im just a general laborer so I dont have any advanced incite. But I think that it just that things are settling down. For example, the rate of growth the greater Moncton is beginning to slow its pace(thats not necessarily a bad thing as we now know what an accelerated pace looks like and its issues), we are not the only game in town either, and well the general economic outlook of the country is unpredictable. Millions of Canadians whom bought homes during the pandemic era are now soon looking at a mortgage rate renewal and many of them are going to be shocked at what they will pay.

Eh, it was worse a year ago. I just renewed a 4 year fixed mortgage at 4.06% last month. If people can't handle <5% rates, they probably shouldn't have bought.

[jonny golden]

Originally Posted by adamuptownsj

Eh, it was worse a year ago. I just renewed a 4 year fixed mortgage at 4.06% last month. If people can't handle <5% rates, they probably shouldn't have bought.

The interest rates have come down significantly - a full 2.0% cut in the prime rate since last June.
Property taxes are another story. The only direction they seem to be going is straight up.

There are so many factors involved in these major projects that haven't broken ground yet. With no info being released to the public, I guess we just have to be patient.

[MonctonDowntown]

The size of the Dartmouth project above is super exciting and I'm looking forward to monitoring its progress. That said, one thing we also need to keep in mind is the quality of a development and how well it meets the street.

For example, looking at the Press Block, another Halifax development, notice how the different retail locations have bump outs (see red arrows) to create a nice visual so that each store has it own contained store front. Instead of having a monolithic glass wall facing the sidewalk like in Toronto (or a lot of stone facing the sidewalk like Moncton) this approach is much more engaging and breaks up the size of the development.

As well, note how there is a nice overhang (see blue arrows) that adds to that visual. In addition, not sure if this will be true for the Press Block development, but the overhangs would also make an ideal location for the signage of the store instead of it sitting directly on the glazing.

If we can get more of these types of developments lining Moncton's downtown, it will create a more vibrant and urban street scape.



Image Source: Drexel

Bob

[habs33]

For anyone interested. the 2025 infrastructure map is up on city of Moncton site
https://experience.arcgis.com/experience/f9546aba02434811ae27c57d68dd4e2c/page/EN/

[MonctonRad]

Colliers East commercial office market report (Moncton/Dieppe) for Q1 2025

Our Q1 2025 Office Market Report for Greater Moncton is now available! 🏢📊

The Greater Moncton office market continued its momentum into the new year, with several positive trends emerging:

• Vacancy Rates Decline: The overall vacancy rate dropped to 11.0% (down from 12.3% in Q4). Moncton’s vacancy rate improved to 11.8%, while Dieppe remains strong at 4.6%.
• Rental Rates Increase: Average asking net rent rose to $14.33 PSF.
• Healthcare and Community Growth: Capture Therapeutics announced a new 25-employee clinic at 171 Lutz Street, and 1010 St. George Street will be repurposed into senior housing by Rising Tide Community Initiative.

Curious about the trends shaping Moncton’s office market? Get in touch for the full report and expert insights: https://ow.ly/Gbn750VIS0B

[new kid in town]

Originally Posted by MonctonRad

City of Moncton Press Release:

The ASEC is the principle reason for the high valuation of the building permits in Q1

The City of Moncton is off to a strong start in 2025, with building permit activity reaching new heights. For the first quarter, ending March 31, a total of 209 permits were issued, representing a combined value of $198.6 million, more than triple the $56.6 million recorded during the same period in 2024.

Originally Posted by MonctonRad

Colliers East commercial office market report (Moncton/Dieppe) for Q1 2025

The Greater Moncton office market continued its momentum into the new year, with several positive trends emerging:

• Vacancy Rates Decline: The overall vacancy rate dropped to 11.0% (down from 12.3% in Q4). Moncton’s vacancy rate improved to 11.8%, while Dieppe remains strong at 4.6%.
• Rental Rates Increase: Average asking net rent rose to $14.33 PSF.

It's been a fairly quiet first quarter, so I'm mildly surprised we have pretty good data still.

Overall, I'm glad Infinity is still going for 30-storeys. Frankly the only other project I'm really banking on to happen other than the Gateway Towers.

I don't think the 18-storey plan for St. Bernard is happening anymore.

[EnvisionSaintJohn]

Originally Posted by MonctonRad

Not Moncton related, but I thought people might like to see what's coming for the old Dartmouth Shopping Centre at the foot of the MacDonald Bridge in HRM



The development is called Little Brooklyn, and includes seven buildings, including 2x36 storeys and 2x40 storeys, Other approved nearby buildings have been included in the render.

This kinda puts to shame what we have on the drawing board in Moncton.

Those got a very cool, "neo Art-Deco" vibe. More of this!

[MonctonRad]

Originally Posted by new kid in town

I don't think the 18-storey plan for St. Bernard is happening anymore.

Oh, I have every confidence this is a serious proposal.

It is frustrating how long development timelines can be. It can be as much as 10 years or more between an initial proposal and ground being broken. There are just so many variables in play (design, property acquisition, regulatory, financing, market conditions, logistics etc) that you need the patience of Job to see it through.

St. Bernard Place won't be this year, but it may be next year, or the year after that.

We've been waiting on the Ashford/Downing project for over a decade now, and we still do not have any firm renders to admire and comment on. I;m willing to bet it will be another 10 years before the project is complete. Such is life..........

[jonny golden]

There are just so many variables in play (design, property acquisition, regulatory, financing, market conditions, logistics etc)

Another thing that occurs to me about St. Bernard's and all this time passing: The proposal could be enhanced by the time they're ready to proceed. I really like the current plans, but what if things change and it was better financially for the developer to add more floors? Of course the parking situation could be a factor in this as well.

As you said, there are so many variables, and things that we're just not aware of. If this project starts next year and proceeds as is, I'll be happy that we're getting another major project in the heart of downtown. And I'd also like to see the Junction developers finally proceed with something great along Main Street! As they say, patience is a virtue.