[Moncton] Downtown Developments

[David_99]

Originally Posted by Scarface

Was at Tim's today, and heard people who where a little bit older then myself. They where talking about Moncton Bussinesses back in the 60's, and 70's blaming Nafta that was signed in 1994 for Moncton's( and Canada's) Business crawl.

Were their names Jared and Ivanka? I don't think you'll have to worry about them much longer.

[Scarface]

Originally Posted by David_99

Were their names Jared and Ivanka? I don't think you'll have to worry about them much longer.

Din't catch her name But I'm guessing it was them since she called him Jerry, and the Manager called Him Jared when she told them to lower there tones, or leave. From what I understood of the situation 1. Neither of them are doing so well health wise, and 2. Both of them have gotten themselves ban from most Moncton bussinesses.

[MonctonRad]

A couple of tidbit regarding the Victoria Block adjacent to Robinson Court on Main Street.

- The former Keating's Tobacco space is being gutted and renovated for a new tenant (the name of which has not revealed).
- The former Navigator's Bar space is also being renovated for a new brew-pub to be called The Furnace Room, which will open later this spring.

These businesses will be net gains for the downtown core since both Keating's and Navigators have relocated to other storefronts on Main Street.

[Scarface]

Originally Posted by MonctonRad

A couple of tidbit regarding the Victoria Block adjacent to Robinson Court on Main Street.

- The former Keating's Tobacco space is being gutted and renovated for a new tenant (the name of which has not revealed).
- The former Navigator's Bar space is also being renovated for a new brew-pub to be called The Furnace Room, which will open later this spring.

These businesses will be net gains for the downtown core since both Keating's and Navigators have relocated to other storefronts on Main Street.

I'm glad to see The former Keating's Tobacco space being renovated for a new tenant but it's a little odd to me that they keep tenants quiet untill they get close to opening. It's also nice to see that The former Navigator's Bar space Is being renovated into a similar business that was there before.

[MonctonRad]

Signage has now been installed for Classic Burgers in the Landing on the Bend on Main Street.

[MonctonRad]

Originally Posted by MonctonRad

There is a proposal before Moncton PAC to allow "temporary offsite parking" until June 30th on the vacant lot on the NW corner of St. George St & Cameron, where Wesley United Church used to be. This proposal is being made by Killam Properties.

#1 - Since when has this land belonged to Killam Properties?
#2 - Why is this petition only until June 30th? Is there something planned after this date???

In the T&T today that Killam Properties very much wants to develop the old Wesley United Church site for an apartment building but that the provinces arcane system of "double taxation" for non owner occupied residential properties is holding them back as this impacts the profitability of the project.

The provincial taxation regime is punitive for any apartment projects (especially high quality ones), and probably impacts the number of poorly maintained older apartment buildings in the city. The taxation system makes it a poor financial decision to keep your rental property well maintained because this increases your assessment, which is then "double taxed".

This system needs to be fixed if we are to have any hope of urbanizing and densifying our city cores.......

[pierremoncton]

I support property tax reform but that's a curious statement coming from Killam. They own properties all over the province. They paid $1MM for this lot just a few months ago. Are we supposed to believe that they just found about double taxation since their purchase? Surely they have plans for this lot.

[Taeolas]

If the location was good enough and the price cheap enough, they may have snagged the property to keep another company from getting it, while also increasing their weight in the fight for Rental Tax reform. Better to have a parking property trickling in income, while letting them claim they would build on it "if only...", than to let a good location go to someone else and maybe bring in increase competition for their other properties.

[PEI highway guy]

Originally Posted by pierremoncton

I support property tax reform but that's a curious statement coming from Killam. They own properties all over the province. They paid $1MM for this lot just a few months ago. Are we supposed to believe that they just found about double taxation since their purchase? Surely they have plans for this lot.

If they are double taxed on this lot, they must be double taxed on most/all other properties in NB. They must have known this with their other NB properties. IT seems to me there is more to the story and taxes is only part of it. (My opinion only

[MonctonRad]

I think Taeolas' analysis is a good one. Killam bought the old Wesley United Church property as a strategic investment (to keep anyone else building on it). They likely do have long term plans for the land (it's location is terrific), but in the meantime they will use this property as an example of how government taxation policy stifles rental residential development in the city cores of the province.

[OliverD]

Let's be real here – the double taxation doesn't really stifle rental development because everyone is on the same playing field. It's still a terrible policy because it makes housing less affordable for renters.

[MonctonRad]

Originally Posted by OliverD

Let's be real here – the double taxation doesn't really stifle rental development because everyone is on the same playing field. It's still a terrible policy because it makes housing less affordable for renters.

It also tends to promote the development of cheap vinyl clad wood construction four storey generic apartment buildings in the suburbs rather than quality high rise construction in the city core.

After all, why put extra money into a quality construction project if that means higher assessments and therefore even higher taxes?

The province really needs to address this as part of a comprehensive system of property tax reforms.

[Ammn_guy]

it stifles development and promotes ugly propertys. There is no incentive to renovate rental properties especially for the small guy. And less small property owners makes for alot of corporate property owners.. which makes for less competition and higher rent.

It also highly encourages renovations without permits to avoid assessment changes etc.. There is a Reason NO Other province does this, the deteractors far out weigh the revenue.


I have a property that i renovated inside only.. to avoid assesment increase.. the siding is literally falling off the outside but it looks like a five star hotel inside.

Originally Posted by OliverD

Let's be real here – the double taxation doesn't really stifle rental development because everyone is on the same playing field. It's still a terrible policy because it makes housing less affordable for renters.

[PEI highway guy]

Originally Posted by Ammn_guy

it stifles development and promotes ugly propertys. There is no incentive to renovate rental properties especially for the small guy. And less small property owners makes for alot of corporate property owners.. which makes for less competition and higher rent.

It also highly encourages renovations without permits to avoid assessment changes etc.. There is a Reason NO Other province does this, the deteractors far out weigh the revenue.


I have a property that i renovated inside only.. to avoid assesment increase.. the siding is literally falling off the outside but it looks like a five star hotel inside.

On PEI, IF YOU own a cottage/house/commercial building and live off Island you pay much more property tax than I do as a resident. IT HAS BEEN THAT WAY FOR QUITE A WHILE. Some companies/individuals put property's in family members names to avoid the double tax. As far as I know this has not changed.

[josh_cat_eyes]

Originally Posted by Scarface

Din't catch her name But I'm guessing it was them since she called him Jerry, and the Manager called Him Jared when she told them to lower there tones, or leave. From what I understood of the situation 1. Neither of them are doing so well health wise, and 2. Both of them have gotten themselves ban from most Moncton bussinesses.

Hahaha Scarface that joke flew right over your head. He was making a reference to Jared Kushner and Ivanka Trump

[HanSoloCup]

Any word on when construction will begin for the new Hilton off of Vaughn Harvey, I would guess Spring but was wondering if anyone has heard of a more concrete starting date?

[MonctonRad]

Originally Posted by HanSoloCup

Any word on when construction will begin for the new Hilton off of Vaughn Harvey, I would guess Spring but was wondering if anyone has heard of a more concrete starting date?

I haven't, but a springtime start is pretty much guaranteed. I would imagine late April or May, once the snow is gone and the frost is out of the ground.

[NBNYer]

Originally Posted by MonctonRad

I haven't, but a springtime start is pretty much guaranteed. I would imagine late April or May, once the snow is gone and the frost is out of the ground.

I'm also hoping for the rumored Double Tree on East Main street to get underway but there seems to be much less certainty with this project.

[Monctoncore]

Also when does the Hyatt start?

[MonctonRad]

Originally Posted by Monctoncore

Also when does the Hyatt start?

This year too. As soon as they clean up the site from construction of the events centre, construction of the Hyatt Hotel will begin. The opening is in the fall of 2019 I believe.