[Moncton] The Three Sisters - 20 Record Street | 3x58m | 3x15s | Under Construction

[BlackYear]

If Lafford was to purchase the Cooperators Insurance property and if they can move the substation to another location, and Lafford was to purchase that last piece of property puzzle, popping champagne bottles in the Lafford office would be well deserved.

[jonny golden]

Originally Posted by BlackYear

If Lafford was to purchase the Cooperators Insurance property and if they can move the substation to another location, and Lafford was to purchase that last piece of property puzzle, popping champagne bottles in the Lafford office would be well deserved.

I hope it happens. If Co-op were to move into the 1222 Main Street building, we'd finally see it come to life. Of course it needs to be brought up to modern standards like its twin was a few years ago.

I still think it would be wise to redevelop 1222 Main as a mixed use building. Expecting it to fill up with office workers is a pipe dream in today's market conditions. I'm sure Tier Too Properties is well aware of this with 1234 Main being only 50% leased.

Perhaps a 1-2 floor boutique hotel would work, being next to the Avenir Center, and also it's well known that there's been great success in other cities converting vacant office buildings to residential units after covid. Tier Too has experience in both the residential and hotel businesses, with West Royalty suites in PEI And Microtel in NS & PEI, so it seems like it would be a natural fit for them.

Ground floor retail/service businesses would really give this plaza a shot in the arm too.

[MonctonRad]

If this rumour is true, I strongly suspect Cooperators will lease space in 1234 Main, bringing this building to close to 100% occupancy.

This building has ready to use leasable space and there would be no waiting for extensive renovations to take place.

At the same time, this would allow Tier Too/The Gray Group to keep their powder dry as to what to do with 1222 Main and the adjacent vacant land between this building and the Avenir Centre. There is enough spce here for a truly transformational development, especially given it's prominent location.

[jonny golden]

That's exactly what I thought as well. So I looked at the available space in 1234 and it's just under 20,000 sq. ft. That's not even close to enough space to replace the Co-op building, so that's why I thought about 1222. 1234 is much more than 50% leased!

I too would love to see a trans-formative development here, incorporating the old telegraph building. I'm just not sure Tier Too has it in them.

None the less, it's a very interesting rumour.

https://pm-co.ca/1234-main-street/

[MonctonRad]

Signage has been installed for the Borsch House

[Leroy321]

^^^

[MonctonRad]

I also noted landscaping is progressing expeditiously around the third sister and the courtyard has been completely repaved. The final touches are being applied to this substantial project.

[MonctonRad]

This unit in the podium of the Third Sister is begging for a higher end restaurant.

It has tremendous visibility on the southwest corner of the building , facing Assumption Blvd, and, has a grand staircase leading up to the main entrance.

I wonder what the plans are for this unit? I wonder if a restaurant chain has already expressed interest???

[Leroy321]

I haven’t heard anything for this unit yet but the unit beside it will be something food/takeout related.

[BlackYear]

Walking home from picking some rib sauce from Ribfest, snapped this pic and wondered if rumors were true and Co-Operators were to move and Lafford was to purchase this piece of land, would they demolish the 5 story building to give all those units a nice riverfront view and provide visitor parking (grocery store and restaurants) and maybe a zen park?

[BlackYear]

Originally Posted by MonctonRad

This unit in the podium of the Third Sister is begging for a higher end restaurant.

It has tremendous visibility on the southwest corner of the building , facing Assumption Blvd, and, has a grand staircase leading up to the main entrance.

I wonder what the plans are for this unit? I wonder if a restaurant chain has already expressed interest???

Couple months ago a took a tour of the available apartments in tower 3 and the 3rd floor corner with the rounded balcony in photo (cut off from photo) was absolutely spectacular inside. The view from open concept kitchen-living-dining area was incredible. The balcony was huge. The apartment you see on the 2nd floor was already pre-leased, but the third floor was available. I told my friend and her mother if they don't sign the lease now, I will...that was until we entered the 11th floor east corner looking at Dieppe and riverfront. When do I sell my house and move in? Less than 5 years if not sooner.

[jonny golden]

Couple months ago a took a tour of the available apartments in tower 3 and the 3rd floor corner with the rounded balcony in photo was absolutely spectacular inside. The view from open concept kitchen-living-dining area was incredible. The balcony was huge. The apartment you see on the 2nd floor was already pre-leased, but the third floor was available. I told my friend and her mother if they don't sign the lease now, I will...that was until we entered the 11th floor east corner looking at Dieppe and riverfront.

Lafford is bringing an excellent product to market, and it sounds like the units are pretty much selling themselves. It's no wonder that so far the buildings are 95% leased. I would suspect that a lot of tenants are empty-nesters who've sold their homes.

I remember the Junction developers stating that a large percentage of their tenants had sold their homes to lease the Tannery Place units, and that the buildings were essentially fully rented even before construction was complete. It sounds like this market segment continues to be very strong. It's too bad that the Junction developers wouldn't pivot from their original plans and take advantage of this market.

I still think a 10 floor building along Main Street would be successful, and be a great addition to this corner. Why not something creative with various components a la 55 Queen?