Quote:
Originally Posted by MonctonRad
I noticed yesterday that there is a large "land for sale" sign which has been erected by Ashford on the parcel of land that would have housed the Lorentz Apartments building #2.
It is clearly obvious that this building is not going to get built.
This is yet more evidence supporting the rumour and impression that Ashford is no longer interested in residential construction and management. They have contracted out management of their current residential properties, and no new buildings have been built in the last couple of years.
This is fine, but it does seriously call into question the future of the Ashford/Downing project behind Assumption Place which always seems to be perpetually about 24 months away, The delays have largely been related to improving the necessary infrastructure for this major project (almost certainly well over $100m), and, more recently to difficulties in obtaining federal and provincial monies for the public portion of the project (relocated city market, new convention centre +/- a relocated main downtown library branch).
There are interesting rumours that Ashford has pivoted to a commercial tower, and possibly may have secured a couple of major tenants (provisional on securing the funding for the public portion of the project), but, Ashford/Downing encompasses a full city block, and, it is hard to imagine that a project of this scale would not also include a large residential component.
If Ashford is exiting residential construction, what does this mean for Downing Street? Is this project doomed???
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I have been of the opinion for some time that Ashford needs to move on from this project. It's unfortunate, but after almost a decade of talk it's highly unlikely anything will ever get built. As much as I would like to see the project come to fruition in the near future, I'm worried they will continue to sit on this land for another 10 years.
It seems to be one excuse after another. Based on what I hear the city also won't move forward with the final pieces of infrastructure until Ashford is ready to go. I think waiting on the city has become a convenient excuse from Ashford.
There was the perfect opportunity to get Towers in the sky over the past 5-6 years with the incredible growth in the Moncton area. I really can't figure out what they're waiting for?