[Saint John, NB] 99 King Street | 13 storeys | Under Construction

[cdnguys]

Originally Posted by EnvisionSaintJohn

That’s positive news, and you’d have to assume one of the first orders of busines for a new owner would be the swift deletion of the “upside down dress legs” design feature.

Although, a sale (which you’d assume would be for a profit) would complicate the optics of the low interest government financing that was recently granted to the developer.

The low-interest loan was granted to a corporation, which is a separate legal entity from “the developer” you are referring to as Percy. If the project is sold, it would be the corporation selling its asset … not the individual director personally. While Percy may benefit as a shareholder, the transaction itself is corporate- not personal. Anyhow I call BS for now, because we had the exact same rumour of The Wentworth.

[sailor734]

Originally Posted by cdnguys

The low-interest loan was granted to a corporation, which is a separate legal entity from “the developer” you are referring to as Percy. If the project is sold, it would be the corporation selling its asset … not the individual director personally. While Percy may benefit as a shareholder, the transaction itself is corporate- not personal. Anyhow I call BS for now, because we had the exact same rumour of The Wentworth.

FWIW I've been told that there was a serious offer to buy The Wentworth during construction followed by some negotiations before it was eventually turned it down. That is probably where that rumour came from. It's certainly possible that this is a similar situation.

In any event, at this point with the building well advanced it's really just a matter of passing interest. Regardless of eventual ownership I think it's safe to assume the building will be completed and occupied within 12-18 months or so

[WhipperSnapper]

There's been numerous buildings sold that were built with CMHC loans. There's a lot of them. Many billions in deficit spending has been shelled out. My guess that should the new owner repay the loan than they shouldn't be obligated to the "affordable" units. Alternatively, they must provide the units for the contractual length should the loans be transferred to them.

[bingun]

#9 has begun, it's really starting to show its height now, you can see it from several approaches into the city.

[nwalbert]

The building is now available for pre-lease and its pretty clear from the ownership group that there is zero intent to sell this building at this time.

[bingun]

Originally Posted by nwalbert

The building is now available for pre-lease and its pretty clear from the ownership group that there is zero intent to sell this building at this time.

Where do you see it available for lease?

[bridgeoftea]

Originally Posted by bingun

#9 has begun, it's really starting to show its height now, you can see it from several approaches into the city.

It's now visible from Bayside drive, the hill on Sommerset and very obvious coming down the highway from the west side. With 3 or 4 more floors to go it'll be as close to the Irving and Brunswick Square tower from most vantage points.

[dhottawa729]

Originally Posted by bridgeoftea

It's now visible from Bayside drive, the hill on Sommerset and very obvious coming down the highway from the west side. With 3 or 4 more floors to go it'll be as close to the Irving and Brunswick Square tower from most vantage points.

If anyone is curious as to how it will look in the skyline from various perspectives, I already posted some fairly accurate massing renderings in the Fundy Quay sub-thread on Page 70.

[sailor734]

Weird that there doesn't appear to be a website for this development .......or at least not one my Google Fu can find.

[nwalbert]

Originally Posted by bingun

Where do you see it available for lease?

Someone from the ownership group posted on Facebook that it was now available for Pre-lease.

[nwalbert]

Originally Posted by sailor734

Weird that there doesn't appear to be a website for this development .......or at least not one my Google Fu can find.

there is a website with a live Tenant Portal.

[DyAm00394]

Searching on Facebook and on Google comes back with no results of a pre-leasing announcement or a website for this development. So not sure where and how to find it lol.

[sailor734]

Originally Posted by nwalbert

there is a website with a live Tenant Portal.

Link or URL?

[nwalbert]

Originally Posted by sailor734

Link or URL?

99kingst.com

[DyAm00394]

New renderings from the website: https://99kingst.com/

[bingun]

Originally Posted by nwalbert

99kingst.com

AI overload from going through that has fried my brain.

[OliverD]

Some pricey units, especially the two bedroom ones where neither bedroom has any windows.

[Leroy321]

Originally Posted by OliverD

Some pricey units, especially the two bedroom ones where neither bedroom has any windows.

Some penthouse units are going for 4500$!

[bingun]

Originally Posted by OliverD

Some pricey units, especially the two bedroom ones where neither bedroom has any windows.

One single window by the dining table...

[Leroy321]

Originally Posted by bingun

One single window by the dining table...

No balcony’s either.