[Moncton] Downtown Developments

[felip_ars]

Man, that was quick...at least they were able to get on TMZ before closing

http://www.tmz.com/2017/01/31/ti-bodyguard-stabbed-canada-concert/

[Monctoncore]

Now they can put something or multiple things in there that would work... I don't mind night clubs, but I feel like that space could be used for something better

[Scarface]

Originally Posted by Monctoncore

Now they can put something or multiple things in there that would work... I don't mind night clubs, but I feel like that space could be used for something better

I can't remember where but I had posted about the building being for sale, and someone said they could see multiple businesses in there as they have done since the theater closed it's doors, and someone else said a Restaurant would fit well there. But it seems to big to just have a restaurant.


I keep seeing approved demolition plans, and approved construction projects in the downtown core then within a few months the property is listed for sale (with approved plans if needed) Does anyone know what is going on? Are these Developers who are underestimating value of land versus price they could legitimately sell at, or just some random people biting off more then they can chew like the house flipping craze that hit Moncton a few years back?

[MonctonRad]

I'm not sure what projects you're talking about, but there is a long, long history of projects in this city (especially downtown), after having gotten approval from PAC and or city council, never seeing the light of day. Sometimes these projects will get resurrected several years later, but frequently they disappear into the ether.

It's hard to know what happens to these projects.

- Presumably in some cases investors can't be found, or disagreements may occur between investors and developers.
- I'm sure at other times market forces have a bearing and these can change between the time a project is approved and before shovels hit the ground. This happened to the first iteration of the Mapleton Centre.
- Sometimes a project (like an apartment building) will be greenlighted with the expectation that demand will eventually build enough to allow construction to proceed, only to be vanquished by poor demand, or increased competition.
- Sometimes a proposal is made just to be speculative, and in an attempt to create excitement in a vain hope to generate enough interest to finance construction. If interest is not generated than the project just vanishes.

At present, the project I'm most interested in seeing how serious they are about constructing is the Harper Building. I still give this less than 50/50 odds of proceeding.

[OliverD]

In some cases these proposals are also designed to grow the value of the land. Land is more desirable and valuable if it has been approved for a large project.

[Scarface]

Originally Posted by MonctonRad

I'm not sure what projects you're talking about, but there is a long, long history of projects in this city (especially downtown), after having gotten approval from PAC and or city council, never seeing the light of day. Sometimes these projects will get resurrected several years later, but frequently they disappear into the ether.

It's hard to know what happens to these projects.

- Presumably in some cases investors can't be found, or disagreements may occur between investors and developers.
- I'm sure at other times market forces have a bearing and these can change between the time a project is approved and before shovels hit the ground. This happened to the first iteration of the Mapleton Centre.
- Sometimes a project (like an apartment building) will be greenlighted with the expectation that demand will eventually build enough to allow construction to proceed, only to be vanquished by poor demand, or increased competition.
- Sometimes a proposal is made just to be speculative, and in an attempt to create excitement in a vain hope to generate enough interest to finance construction. If interest is not generated than the project just vanishes.

At present, the project I'm most interested in seeing how serious they are about constructing is the Harper Building. I still give this less than 50/50 odds of proceeding.

Originally Posted by OliverD

In some cases these proposals are also designed to grow the value of the land. Land is more desirable and valuable if it has been approved for a large project.

The approved projects is one that was approved for 170-172-174 Victoria Street(Now known as 170 Victoria St), and 67-69 Archibald Now known as 69 Archibald), and the fact that the property is now being sold with the approved project for $449,000 versus what it was assessed at $222,700. That would make sense that the project was just put up for approval to raise the value same with 160 High Street, and there was another project on High Street behind 25 Dominion, and the owner put the land up for sale right after the approval, or somewhere following the approval I should say. Also I'd like to point out all the assumed projects, and all the ones that did not pass the City's approval process. Including but not limited to Harris Street, Steadman, and also St George-Lester Street. There was also a King Street project around the same time as 50 King Street was being built, and the Harper Building that has changed plans a few times, and has had a large number of false starts. I do hope that these projects see the light of day whether it's in it's original form, or a revised form Downtown really needs some new life breathes into it.

[habs33]

Pastalli is open again after having a two-month closure to repair water damage.
https://www.telegraphjournal.com/telegraph-journal/story/100120473/?nopromo=1

[micks5477]

From the Times & Transcript:

[felip_ars]

I hope it does well, I just hope he'll keep his cool this time, and got rid of his "bad friends".

And if it doesn't work out....dont blame it on Tinder this time

[Sandbagger]

LOL no one watches sports after 10pm. Maybe on the west coast where there's no late games. Major sporting events don't even start here until 8pm at the earliest.

"And the Patriots are just 10 yards away from the Superbowl comeback of all time."

*Click* Sorry guys, DJ DoubleDouble and the BeaverTails are booked in for 10:30.

[Monctoncore]

Not a big fan of his return, other bar owners and restaurant owners downtown never had anything good to say about the man. I know the past clubs he ran in there were not the safest of spots and way to many drug deals going down. It's disappointing that the city doesn't have a way of stopping people like this from purchasing buildings in the downtown core.

[BlackYear]

Originally Posted by Sandbagger

LOL no one watches sports after 10pm. Maybe on the west coast where there's no late games. Major sporting events don't even start here until 8pm at the earliest.

That was my exact thought after reading the above T&T article. Maybe a Sportsbar is not the type of business he should be in.

I went to BubbaRays a couple of times to watch major PPV UFC and Boxing events. They all started at 11pm. If this newly proposed sportsbar converts to a dance bar at 10, no one will show up!

Jays and Maple Leafs games starts at 8pm ATL time. 7,8,9th innings and 3rd periods starts around 10pm. Basketball is the same. The excitement of the all games starts around that time.

Yeah, good luck with that!

[David_99]

Bob Cole: "And there's the buzzer, looks like we're heading to Overtime! This Game 7 of the Stanley Cup Finals between the Canadiens and the Oilers has been one for the ages. What a doozy! I doubt there's a single set of eyes across the nation not watching this game. Oooooh Baby!" *CRRRR* TV Shuts Off

Bartender: "Ok, it's 10pm. We have to move some of these tables and set up the speakers for this local Fiddler Band."

[MonctonRad]

You guys are bang on. This project is doomed to failure.........

[theshark]

Does he know what he is doing?? Every place that i can think of that tried to use the same space for pub, then later for club during the same night has gone kaputt prematurely. You either do both in separate spaces, or you choose between the two. It will frustrate people who have been sitting for a while drinking after a good meal when the waitress comes and say "thanks for your hundreds of dollars , now move so already wasted people can come have 1 drink while dancing and puke everywhere"

If this works, it will be the first time i see it work but not holding my breath.

[Scarface]

Well it's going to go down like the .

[MonctonRad]

A litte photo tour of some important downtown infill projects - current status:

1) - Ristorante Baci Italia



2) - Dolma Foods





3) - Main Street unspecified project (probably restaurant)





As I've said before, small infill projects like this are just as (if not more) important as major developments like 55 Queen, the events centre or the Junction Urban Village in building character for the city. Keep 'em coming!!!

[josh_cat_eyes]

Originally Posted by MonctonRad

A litte photo tour of some important downtown infill projects - current status:

1) - Ristorante Baci Italia



2) - Dolma Foods



As I've said before, small infill projects like this are just as (if not more) important as major developments like 55 Queen, the events centre or the Junction Urban Village in building character for the city. Keep 'em coming!!!

Infill projects are sooo important to creating density! You could have 5 30 story buildings, but if they are all surrounded by parking lots then it doesn't feel very dense. But if you have 2-5 story infill in between them, it's gonna be a lot more urban feeling.

Dolma foods and Ristorante Baci Italia both look way better than I thought they would!!!

[mmmatt]

Great pics MR and I agree these infill projects are vital to the core...at the same time I'm stoked for the large scale ones in the works as well!

[Scarface]

Thought I would bring this up since it seems to be relevant with the downtown core. It does not seem like the Humanity Project will be buying the old MCA building.

There are plenty of lots, and old building that are up for sale, and/or have already sold. Can't wait to see if any new construction will be planned.

Also not sure if anyone had noticed but the old BROWN HOLDER BUILDING is listed for sale I wonder if it's a historic property because if not I'm wondering what would replace that old building since it seems to always have a unit lease sign out front every time we go by it. So they seem to have a hard time to keep tenants.