[Moncton] St. Bernard Place | 18 Storeys | Proposed - Page 12

new kid in town · #**221** Posted **May 16, 2024, 3:11 PM**

Quote:

Originally Posted by Monctoncore

They do have a website.

https://stbernardplace.ca

I had a hunch the moment I posted that comment that I would be proven wrong, and boy am I glad

jonny golden · #**222** Posted **May 16, 2024, 5:14 PM**

It's been a project that I've been excited about right from the beginning. In hindsight, it's a good thing that Frederick Properties bailed out, because it's now 18 floors instead of 12. It'll be a real shot in the arm for that neighbourhood. At some point maybe we'll see another big project in this area. There's a lot of potential to create a cluster of buildings in the area.

reflist · #**223** Posted **May 19, 2024, 7:24 PM**

Hello, I created this model over the last two days so that I can put into my google earth. If anybody is interested here is the link to download the kmz file. It will pop directly into its right location. enjoy.
https://drive.google.com/file/d/1Ac4...ew?usp=sharing

MonctonRad · #**224** Posted **May 19, 2024, 7:57 PM**

Excellent work! A bit strange to see St Bernard Place in that perspective, but with FiveFive in the background as still a construction site. Google earth really needs to update their imagery.

reflist · #**225** Posted **May 19, 2024, 8:08 PM**

Quote:

Originally Posted by MonctonRad

Excellent work! A bit strange to see St Bernard Place in that perspective, but with FiveFive in the background as still a construction site. Google earth really needs to update their imagery.

Thank you, and I agree that its been long over do for an update. Thats why when I was doing research into creating 55 Queen I was kind of second guessing creating buildings that have all ready been complete just in case it does get updated.

new kid in town · #**226** Posted **May 19, 2024, 8:32 PM**

Quote:

Originally Posted by reflist

Hello, I created this model over the last two days so that I can put into my google earth. If anybody is interested here is the link to download the kmz file. It will pop directly into its right location. enjoy.
https://drive.google.com/file/d/1Ac4...ew?usp=sharing

That looks amazing!

Really hope we get some concrete (heh) development soon!

abbyy1996 · #**227** Posted **May 21, 2024, 5:49 PM**

I was driving by this morning when I noticed two halfton trucks on site with company logos on them ( could not make out which company ) both having flashing amber lights on..... I do not know if it means things are going to happen soon ???

MonctonRad · #**228** Posted **May 21, 2024, 6:09 PM**

Well, they seriously intended a start this spring (financial Gods notwithstanding). This is a hopeful sign. Keep us apprised!

Mattyyy · #**229** Posted **May 21, 2024, 8:02 PM**

Quote:

Originally Posted by abbyy1996

I was driving by this morning when I noticed two halfton trucks on site with company logos on them ( could not make out which company ) both having flashing amber lights on..... I do not know if it means things are going to happen soon ???

Pretty sure that’s related to the paving on Queen - same thing as last week.

jonny golden · #**230** Posted **Jun 2, 2024, 12:32 AM**

So nothing happening yet on this project? No word on when they're starting? I was hoping we'd see some activity at the site by now.

Leroy321 · #**231** Posted **Jul 26, 2024, 2:32 AM**

I’m surprised it has took so long for them to start and still no word of when they will. A couple of months ago they seemed eager to start building this as quick as possible but nothing yet has happen.

jonny golden · #**232** Posted **Jul 26, 2024, 11:18 AM**

My guess would be that we'll see some preliminary site prep this fall. That way they can hit the ground running in the spring.

Maybe they wanted to build up their finances before starting construction. I know one of the factors we keep hearing as to why some projects seem to be on hold, is interest rates. The prime interest rate dropped yesterday, so hopefully that will help.

adamuptownsj · #**233** Posted **Jul 26, 2024, 12:10 PM**

Quote:

Originally Posted by jonny golden

My guess would be that we'll see some preliminary site prep this fall. That way they can hit the ground running in the spring.

Maybe they wanted to build up their finances before starting construction. I know one of the factors we keep hearing as to why some projects seem to be on hold, is interest rates. The prime interest rate dropped yesterday, so hopefully that will help.

2-3 more drops expected over the next couple months. I presume getting prime under 4 is in the cards.

MonctonGoldenTri · #**234** Posted **Jul 26, 2024, 2:11 PM**

Quote:

Originally Posted by adamuptownsj

2-3 more drops expected over the next couple months. I presume getting prime under 4 is in the cards.

Corporations can often get prime -1% easily and with the rates trending down the banks would likely lock-in the anticipated rate cut ahead of time. I wouldn't be surprised if they could lock-in 3% today.

MonctonRad · #**235** Posted **Jul 26, 2024, 2:20 PM**

Reasonable borrowing rates are only part of the equation. Ritchie (the developer) also has to lock in a project manager, contractors and subcontractors, and equipment and materials, including the lease of a tower crane. This can be difficult to arrange and will take time. Again, I can see excavation starting this fall, but, I really doubt we will see anything else else substantive until next year.

jonny golden · #**236** Posted **Jul 26, 2024, 3:13 PM**

Quote:

Originally Posted by adamuptownsj

2-3 more drops expected over the next couple months. I presume getting prime under 4 is in the cards.

I know that there's a lot of elements in bringing these projects to the construction stage, but how big of a factor are the interest rates?

I'm hoping that the projects that are in the pipeline will now come together with further rate cuts.