[Saint John] Fundy Quay (South Market Wharf) | 19-6s | 70m-26m | U/C

[DyAm00394]

Originally Posted by ColSJ

If I am interpreting the post correctly I believe they are saying because of the ramped movement of these materials and the stage away from the SW lot it’s a sign the developers have given the nod make way because we are coming in soon.

You are correct, that’s exactly what I mean.

[adamuptownsj]

Ah, sorry for putting words in your mouth then. Thanks for the clarification.

[JakeNB]

Tonight the City Manager gave his monthly verbal report on the status of the City’s catalytic projects. He couldn’t have sounded less excited if he tried. One sentence on Fundy Quay - “The developer is continuing design work on the first building”. The remainder of his report was equally vague and uninspired. They really don’t seem to give a —.

[homebody]

Originally Posted by JakeNB

Tonight the City Manager gave his monthly verbal report on the status of the City’s catalytic projects. He couldn’t have sounded less excited if he tried. One sentence on Fundy Quay - “The developer is continuing design work on the first building”. The remainder of his report was equally vague and uninspired. They really don’t seem to give a —.

Hope this isn't true. It would be sad to look at the "gravel pit" all summer. What a disappointment. If it doesn't fly maybe they could use all that gravel to fill in the big hole at the top of king .

[bridgeoftea]

Originally Posted by homebody

Hope this isn't true. It would be sad to look at the "gravel pit" all summer. What a disappointment. If it doesn't fly maybe they could use all that gravel to fill in the big hole at the top of king .

Yeah, if I had any ear to local council it would be to change timelines to make sure when proposals come in that shovels in the ground are mandatory within 6 months etc.
I still don't see how this wouldn't be a success once it's built with the population increases and now a large amount of jobs coming to the Port.

[Itme]

Not happening this year, hearing from very good sources it will be spring 2024 start IF interest rates improve and they can get bank financing. Not trying to be a buzz kill but we should all hamper expectations that this will be starting anytime soon. This is a massive project for Elias Group and they've never taken anything of this scale on before, I'm still skeptical they will be the ones to eventually develop it- but I hope im wrong!

[UptownJeff]

Originally Posted by Itme

Not happening this year, hearing from very good sources it will be spring 2024 start IF interest rates improve and they can get bank financing. Not trying to be a buzz kill but we should all hamper expectations that this will be starting anytime soon. This is a massive project for Elias Group and they've never taken anything of this scale on before, I'm still skeptical they will be the ones to eventually develop it- but I hope im wrong!

That is unfortunate. I had heard, also from a good source, that it was moving forward this fall....I'll believe it when I see it. I think we should demand full transparency from both Council and the developer on this file. This is a transformational project for Saint John and the silence is deafening. Enough is enough.

[homebody]

Originally Posted by UptownJeff

That is unfortunate. I had heard, also from a good source, that it was moving forward this fall....I'll believe it when I see it. I think we should demand full transparency from both Council and the developer on this file. This is a transformational project for Saint John and the silence is deafening. Enough is enough.

As i asked a little earlier. Is there not someone in City Hall that would be able to provide clarity on this once and for all? I mean really it shouldn't be a military secret!

[ColSJ]

Originally Posted by homebody

As i asked a little earlier. Is there not someone in City Hall that would be able to provide clarity on this once and for all? I mean really it shouldn't be a military secret!

Agreed

[sailor734]

I think we'd better get used to seeing a vacant lot there. I mean, it's not like these guys are Concord Pacific or anything. They have big dreams but not billionaire type deep pockets. With rates up and banks pulling in their horns.........

[UptownJeff]

Originally Posted by sailor734

I think we'd better get used to seeing a vacant lot there. I mean, it's not like these guys are Concord Pacific or anything. They have big dreams but not billionaire type deep pockets. With rates up and banks pulling in their horns.........

Agreed. Apparently the city hasn’t even officially transferred the land yet and the developer is still designing. Time to pull the plug and retender the project

[Pugsley]

Originally Posted by UptownJeff

Agreed. Apparently the city hasn’t even officially transferred the land yet and the developer is still designing. Time to pull the plug and retender the project

While I am normally the doomsayer and I believe I previously said that I had doubts about the current developer being able to deliver, I do have to say now that maybe we need to cool it a bit.

This is a monumental development so maybe, just maybe, the developer is taking time to get things "just right". I mean, things have changed since they first proposed designs and likely they are in a state of conflict knowing that this is going to cost way more than when originally proposed and also, they can't f&$k this up either. So, I'm sure they are trying to do whatever they can to get some shovels in the ground and realize the original vision while balancing both.

Should they perhaps sell this off to a major developer like Concord Pacific? Sure, but this wouldn't be anything they'd look at seriously unless this is 12 condo towers housing 30K people v. current apartments model, ...so c'mon....let's be rational here.

So, let's give them another 6 months before we start ripping them apart as losers. Give them a chance to figure out a plan and let's wait and see what transpires. By then, if nothing is concrete, then release the hounds. For now, unless anyone on this thread is willing to cut a cheque for 26M, maybe we should be more supportive and provide some constructive ideas to help get shovels in the ground vs. complaining. Isn't that a fair argument?

[ColSJ]

I would fully support a transition from rentals to condos. We have to get home ownership back into play, especially on the peninsula.

In addition it would inject capital into the developers pockets which should help speed up the timeline.

[adamuptownsj]

The whole site should never have been given to one developer in the first place. Cut our losses, plat it out, extend street grid, sell to smaller developers. Try for a couple fancy projects on the western edge maybe. Filling the gap in the streetscape between the bottom of Princess and Market Square with a couple long skinny Prince William style blocks would a) let multiple developers start at once and b) would fit the city better than a couple lonely towers.

[Joe]

Saw on Port Saint John's facebook page the NB Construction Association had their AGM meeting at one of the cruise terminals. One of the speakers was Chris Elias from Fundy Harbour Group. There's a photo of him at the podium with a slide in the background displaying a timeline of what looks to be Fundy Quay. The bottom entry on the slide shows what appears to be the turnover of the site in June 2023. I assume that means the city turns over the site to the developer.

[DyAm00394]

Originally Posted by Joe

Saw on Port Saint John's facebook page the NB Construction Association had their AGM meeting at one of the cruise terminals. One of the speakers was Chris Elias from Fundy Harbour Group. There's a photo of him at the podium with a slide in the background displaying a timeline of what looks to be Fundy Quay. The bottom entry on the slide shows what appears to be the turnover the site in June 2023. I assume that means the city turns over the site to the developer.

Here's a screenshot of the image:



And a link to the post/photos from Construction Association NB - Saint John: https://www.facebook.com/permalink.php?s...Feiau5xzXcVWN14xPkTgl&id=100080897667525

"Our 2023 AGM was hosted at the Saint John cruise terminal in the beautiful Fundy Room. We had amazing speakers such as Mr. Chris Elias, Mr. John-Ryan Morrison and Mr. Craig Estabrooks. Thank you to everyone who took the time to come out and join us.

Exciting things are coming to Saint John!"

[sailor734]

Originally Posted by DyAm00394

Here's a screenshot of the image:



And a link to the post/photos from Construction Association NB - Saint John: https://www.facebook.com/permalink.php?s...Feiau5xzXcVWN14xPkTgl&id=100080897667525

Hopefully things start to happen after June. I'm guessing "site being turned over to developer" doesn't necessarily equate to "construction begins".

[Itme]

What we really want to see if there are any timelines on the next slide! The fact that he is willing to take to the podium and at least talk about the project gives me some hope. If they were debating abandoning it all together I'm going to assume he would have declined the invitation to speak.

[homebody]

Originally Posted by sailor734

Hopefully things start to happen after June. I'm guessing "site being turned over to developer" doesn't necessarily equate to "construction begins".

Anticipated is pretty wishy washy when it comes to wording.

[sailor734]

Originally Posted by Itme

What we really want to see if there are any timelines on the next slide! The fact that he is willing to take to the podium and at least talk about the project gives me some hope. If they were debating abandoning it all together I'm going to assume he would have declined the invitation to speak.

My impression is that most developers keep on talking a good game regardless of what is really going on. No idea if there are actually any issues here but investors/banks etc hate any hint of trouble.