[Moncton] Junction Urban Village | Mixed Residential Commercial Urban Development - Page 18

jonny golden · #**341** Posted **Apr 1, 2022, 6:23 PM**

Quote:

Originally Posted by theshark

Maybe its just the personal side of the bank moving and the st-george location could become a location exclusively for business clients, would follow the trend they have of dividing both in other markets.

If that's their M.O. in other locations it could be what they're planning here as well. They couldn't move their whole St. George Street operations into the space they're leasing in Tannery Place, so it looks like they may be keeping the existing building.

Leroy321 · #**342** Posted **Apr 9, 2022, 10:11 PM**

Does anyone know if the junction hall will be built this summer?

MonctonRad · #**343** Posted **Apr 9, 2022, 10:46 PM**

Quote:

Originally Posted by Leroy321

Does anyone know if the junction hall will be built this summer?

No, but I doubt it.

I imagine they will complete Tannery Place North before proceeding with Junction Hall, so a 2023 construction start would be more likely.

Even then, they may not choose to proceed until they have tenants lined up, so, nothing may happen till 2024 or even later depending on market conditions.

MonctonRad · #**344** Posted **Jun 11, 2022, 2:29 PM**

This "future projects" page by DuParc Real Estate Group is interesting:

https://www.duparcgroup.com/future-projects-1

It describes the Junction Hall as a "proposed class A office tower, currently at the planning and pre-leasing stage. This beautiful landmark is ideal for triple-A market leaders looking to right size and offer unique visibility, accessibility, amenities and services to staff members and clients. The proposed building includes five floors of retail and offices space, underground parking, as well as ample surface parking spaces."

It would also appear that the proposed Home 2 Suites by Hilton is not quite dead yet. The webpage states "The Home2 Suites by Hilton is beautiful extended-stay hotel ready to be built when market conditions are realigned." Now, it's an open question when "market conditions are realigned", but, at the least, the plans are still there to include a Home 2 Suites as part of the Junction Urban Village. If I was to guess, all other things being equal, we might see some action on this file in the next 2-4 years.

jonny golden · #**345** Posted **Jun 11, 2022, 6:47 PM**

I wonder if they'd do another apartment building while they wait for market conditions to realign? The residential market is strong, and they have the space. If I'm not mistaken, both Tannery Place buildings were fully leased even before their completion dates.

BlackYear · #**346** Posted **Jun 26, 2022, 2:11 AM**

Monctoncore · #**347** Posted **Jun 26, 2022, 3:49 AM**

That’s amazing it really changes the look of Vaughn Harvey, now imagine when both buildings on the corners get built. That end of the city is changing so fast.

MonctonRad · #**348** Posted **Jun 26, 2022, 12:58 PM**

Quote:

Originally Posted by Monctoncore

That’s amazing it really changes the look of Vaughn Harvey, now imagine when both buildings on the corners get built. That end of the city is changing so fast.

Indeed.

Imagine combining this:

With this, just a little further down the road.

And this, on the SW corner of Main/Vaughan Harvey.

And, finally this on the NW corner of Main/Vaughan Harvey.

Talk about a neighbourhood transformed! The proponents of 1299 Main are on record talking about turning Vaughan Harvey into a "grand boulevard." If things keep on going, this lofty aspiration might get achieved!

EDIT - I just noted that the 1299 Main proposal will really complement the proposed Home 2 Suites.

Monctoncore · #**349** Posted **Jun 26, 2022, 4:21 PM**

I’m excited to see what it will look like when it’s all done. Next I want to see the plans for behind the assumption building.

jonny golden · #**350** Posted **Jun 26, 2022, 4:35 PM**

I wonder what kind of response they received from the listing of a few months ago by Cushman & Wakefield? The thing that really intrigued me in the listing was the bullet point :

"Land parcels available for lease, build-to-suit, and investment or purchase opportunities"

So it seems as though they'd be open to working with another developer to add to the Junction Village. The land is definitely there for another building beyond what's been planned so far. Could there possibly be something being worked on behind the scenes?

The listing: https://cwatlantic.com/listings/junction-urban-village/

jonny golden · #**351** Posted **Aug 9, 2022, 2:15 PM**

I was just noticing that two properties that abut the Junction land were sold at the end of April. The store/apartment at 1440-1442 Main St. and the residence next to it at 6-8 Stewart St. I wonder if the Junction developers were the buyers?

MonctonRad · #**352** Posted **Aug 9, 2022, 2:18 PM**

Quote:

Originally Posted by jonny golden

I was just noticing that two properties that abut the Junction land were sold at the end of April. The store/apartment at 1440-1442 Main St. and the residence next to it at 6-8 Stewart St. I wonder if the Junction developers were the buyers?

Bingo! Give this man a cigar!!!

jonny golden · #**353** Posted **Aug 9, 2022, 2:49 PM**

Quote:

Originally Posted by MonctonRad

Bingo! Give this man a cigar!!!

LOL! So we know for sure? I guess I missed it.

NBNYer · #**354** Posted **Aug 10, 2022, 5:15 PM**

Quote:

Originally Posted by MonctonRad

Bingo! Give this man a cigar!!!

Could we at least get a ballpark of how many floors we’re talking about here?

North of 8? 10?

MonctonRad · #**355** Posted **Aug 10, 2022, 6:38 PM**

My lips are sealed.

jonny golden · #**356** Posted **Aug 10, 2022, 7:06 PM**

Quote:

Originally Posted by MonctonRad

My lips are sealed.

Considering the market conditions, will we see another residential building added to the Junction? And now that they own all that Main Street frontage, will we see a taller structure given the plans for 9 floor building across the street?

Monctoncore · #**357** Posted **Aug 13, 2022, 11:09 PM**

Deleted

jonny golden · #**358** Posted **Sep 1, 2022, 3:14 PM**

I'm not sure when tenants will start moving in, but they're progressing nicely on Tannery Place North. In light of their acquiring of the two additional properties at Stewart/Main streets, I wonder when we'll see an announcement from the Junction developers about another (taller) apartment building fronting on Main Street?

Or could they be thinking about something along the lines of 55 Queen. I believe their latest plans were to have the hotel along Main Street. Could the hotel occupy floors in a larger multi-facet building a la 55 Queen?

And I'm still curious about the response to the excellent Cushman & Wakefield listing of a few months ago. Could something else for The Junction be in the planning stages behind the scenes?

MonctonRad · #**359** Posted **Sep 1, 2022, 3:23 PM**

The proposed Junction Hall will be entirely dependent on market conditions at the time. The demand for office space downtown is still quite weak, and, there is a definite movement now towards working from home. I see this week that CIBC announced 200 new jobs for NB, but they were virtually all "work from home" positions. If this trend continues, then this takes a lot of oxygen away from downtown development projects.

As for the proposed Home 2 Suites, this is also subject to market conditions, but there has been a remarkable rebound in travel this summer, so, who knows. This project might be back on the table sooner than later.

Could a hotel be incorporated into a larger mixed use building facing Main Street? I have no inside information regarding that, but, the plans for the Main Street facing part of the Junction Village are certainly going to be much different than we were initially expecting. I can make this statement with considerable authority.

jonny golden · #**360** Posted **Sep 1, 2022, 3:40 PM**

Quote:

Originally Posted by MonctonRad

The proposed Junction Hall will be entirely dependent on market conditions at the time. The demand for office space downtown is still quite weak, and, there is a definite movement now towards working from home. I see this week that CIBC announced 200 new jobs for NB, but they were virtually all "work from home" positions. If this trend continues, then this takes a lot of oxygen away from downtown development projects.

As for the proposed Home 2 Suites, this is also subject to market conditions, but there has been a remarkable rebound in travel this summer, so, who knows. This project might be back on the table sooner than later.

Could a hotel be incorporated into a larger mixed use building facing Main Street? I have no inside information regarding that, but, the plans for the Main Street facing part of the Junction Village are certainly going to be much different than we were initially expecting. I can make this statement with considerable authority.

Not surprising. You don't buy those two properties for no reason at all; it'll be very interesting to see what their plans are. I wonder when we'll hear something about this from the developers.

I have also taken note of the travel/hotel business in Moncton. I frequently drive by Hyatt Place and also Chateau Moncton. Both parking lots are often packed with cars. I think there was a lot of pent up demand. By the time the Junction developers are ready to proceed with their next building, they should be able to have a better read on the hotel market in Moncton.