[Moncton] Downtown Developments

[lirette]

Pretty minor item but I think an important one. They finally added a set of overhead crosswalk lights at Main & Bonaccord. I've personally almost been hit here multiple times as drivers seem completely oblivious this is a crosswalk. With the Avenir Centre foottraffic this was a no brainer, and more importantly the sidewalk on the Hyatt side of the street is closed.

If you want a bustling downtown you need to make it as walker friendly as possible.

[FarmerTom]

Originally Posted by lirette

Pretty minor item but I think an important one. They finally added a set of overhead crosswalk lights at Main & Bonaccord. I've personally almost been hit here multiple times as drivers seem completely oblivious this is a crosswalk. With the Avenir Centre foottraffic this was a no brainer, and more importantly the sidewalk on the Hyatt side of the street is closed.

If you want a bustling downtown you need to make it as walker friendly as possible.

I wish they would change the one in front of the avenier centre to the yellow flashing ones instead of the old traffic light style

[MonctonRad]

Originally Posted by MonctonRad

More good news for the downtown.

St. Bernard's Rectory (which had been listed with Colliers), has been officially sold! I can definitely see this being used for a restaurant, pub or small inn. Personally, I think this would be a great location for Baton Rouge (if they were ever to find a local franchisee, they've been looking for more than a year).

Apparently the rumour is that the new owners of the rectory plan a nine room boutique hotel.

[Feneant]

Originally Posted by MonctonRad

Apparently the rumour is that the new owners of the rectory plan a nine room boutique hotel.

Well that's horribly disappointing... . If your guess had been accurate, the building would have been the perfect twin for the Baton Rouge in Halifax.

[MonctonRad]

Well, on the bright side, at least it won't get torn down.

The rectory is one of the Gothic gems downtown (others being the Assumption Cathedral, Moncton High and Castle Manor). They were all at risk in the last decade, but they have all been saved. This is a good news story in terms of heritage restoration.

But I would have preferred a restaurant or brew pub. The synergy with other eating establishments in the city hall precinct would have been terrific.

[lirette]

Originally Posted by Feneant

Well that's horribly disappointing... . If your guess had been accurate, the building would have been the perfect twin for the Baton Rouge in Halifax.

I would never personally call not getting a chain restaurant "Horribly Disappointing". It may have never even been a possibility aside from being suggested on this forum.

The fact that the space is being used to bring more visitors downtown in what I'm sure will be a unique experience is very positive. I'm not sure what kind of space is in there but perhaps they will have an upscale dining option in there as well.

[Good2go]

It is a husband and wife team that bought it. She called in to CBC Radio this morning.

They have done renos of other buildings before this one (some for flipping, and some turned into rentals).

No plans to change the outside appearance (other than perhaps "adding a few small things"). Nine rooms (or maybe 8 plus a breakfast area). They have already begun emptying the building.

They have a lease agreement for parking directly behind the building.

[MonctonRad]

They were talking to the developer on CBC this morning. There will be no dining room. They are debating even whether or not to have a breakfast room. It will only be an 8-9 bedroom inn. Eight bedrooms with a breakfast room, nine without.

I'm sure they will want to squeeze every penny that can out of this establishment, so if they think they can get away without a breakfast room, I'm sure they will.

Personally, if they are going to market this as a boutique hotel/inn, I think a breakfast option is important. If the intent is more of an Air B&B, then I imagine there will be no food option.

BTW, the developers stated they have already secured parking options for the hotel guests.

EDIT - I see Good2go beat me to the punch.

[flyer99]

170 Victoria Street Project

This week sees the framing of the top story (4th floor). If they had good weather all week it would be closed in by Friday but Wednesday's weather may postpone this. It's looking good.

[David_99]

High-quality Moncton office space in short supply
David Gordon Koch | Times and Transcript

Top-tier office space is in short supply in Metro Moncton, according to officials from the commercial real estate industry. The vacancy rate for so-called Class A office space dropped from 11.2 per cent in 2015 to 3.9 per cent today, according to Ian Franklin, a provincial vice-president for Cushman & Wakefield Atlantic.

"It's getting tighter for sure," he said.

He said Ashford Group is still working on plans for its nearby properties in the block bounded by Assomption Boulevard, Main and Westmorland streets. Demolition will soon begin at the former Oxygen Night Club on Westmorland Street, he said. Bill Hennessey, managing partner of Colliers International New Brunswick, said sustaining high levels of demand for Class A office spaces would require parking structures in the downtown area, such as multi-storey parkades or underground parking lots, because tenants expect the convenience.

"You need to create an environment where parking structures are viable, and that will help keep the vacancy rate down," he said.

[MonctonRad]

If the vacancy rate for Class A office space downtown is as low as 3.9%, then why isn't Crombie REIT already renovating 1222 Main???

[jonny golden]

Originally Posted by MonctonRad

If the vacancy rate for Class A office space downtown is as low as 3.9%, then why isn't Crombie REIT already renovating 1222 Main???

One would think that they're planning to do something soon with this property. It's obviously a prime location, with major square footage. It doesn't make sense to leave it sitting vacant. The question is: are they going to redevelop it the same way they did 1234 Main Street - Class A office space? Or could they do some kind of a mixed development? Could they take the opportunity to acquire that vacant land just east of the building and do something really significant here?

[MonctonRad]

CBC article regarding the St Bernard's Church Rectory project:

https://www.cbc.ca/news/canada/new-b...bell-1.5417294

The developers intend to call their boutique hotel "The Keep" in homage to it's neo Gothic design. I like that.

[Ifyoubuildit]

Originally Posted by MonctonRad

CBC article regarding the St Bernard's Church Rectory project:

https://www.cbc.ca/news/canada/new-b...bell-1.5417294

The developers intend to call their boutique hotel "The Keep" in homage to it's neo Gothic design. I like that.

I am happy that someone is looking to save this historic structure. But that said, I am no math whiz, but a purchase price of $450,000 and I believe they said that reno's would cost $800,000 (which I think will cost them much more, looking at the condition of the building). So a total investment of 1.5, possibly 2mil when you add in furniture, etc, etc. They might have to be the 9 most expensive hotel rooms in Canada. I hope it works out for them.

[OliverD]

Originally Posted by Ifyoubuildit

I am happy that someone is looking to save this historic structure. But that said, I am no math whiz, but a purchase price of $450,000 and I believe they said that reno's would cost $800,000 (which I think will cost them much more, looking at the condition of the building). So a total investment of 1.5, possibly 2mil when you add in furniture, etc, etc. They might have to be the 9 most expensive hotel rooms in Canada. I hope it works out for them.

I doubt it. Hotels can be seriously expensive to build.

[jonny golden]

Originally Posted by David_99

High-quality Moncton office space in short supply
David Gordon Koch | Times and Transcript

Top-tier office space is in short supply in Metro Moncton, according to officials from the commercial real estate industry. The vacancy rate for so-called Class A office space dropped from 11.2 per cent in 2015 to 3.9 per cent today, according to Ian Franklin, a provincial vice-president for Cushman & Wakefield Atlantic.

"It's getting tighter for sure," he said.

He said Ashford Group is still working on plans for its nearby properties in the block bounded by Assomption Boulevard, Main and Westmorland streets. Demolition will soon begin at the former Oxygen Night Club on Westmorland Street, he said. Bill Hennessey, managing partner of Colliers International New Brunswick, said sustaining high levels of demand for Class A office spaces would require parking structures in the downtown area, such as multi-storey parkades or underground parking lots, because tenants expect the convenience.

"You need to create an environment where parking structures are viable, and that will help keep the vacancy rate down," he said.

Interesting that Ashford Group will be demolishing what used to be the Paramount Theater. An article a few months ago quoted Jim Dixon as saying that they would tear it down when they had a project planned for the space. I really hope they plan on doing something significant to replace the eyesore that's there now, where multiple bars have opened and closed.

[Sandbagger]

I happened to be passing by 1222 main last night and the lights were on in the ground floor so you could see right in and the whole thing was gutted - at least on the ground floor. Maybe something has already started.

[MonctonRad]

Originally Posted by Sandbagger

I happened to be passing by 1222 main last night and the lights were on in the ground floor so you could see right in and the whole thing was gutted - at least on the ground floor. Maybe something has already started.

It's been gutted for some time. I don't think anything has changed.

Crombie may be waiting to snag a major tenant before proceeding, but with the vacancy rate so low, maybe they should consider starting the rebuild anyway.

[tmacdougall]

"I’m hearing that there should be at least one large scale development in the east end break ground this year , which should again help to fill another gap downtown" - Greg Turner, Councillor, City of Moncton via Facebook

Any ideas? Location?

[jonny golden]

Originally Posted by tmacdougall

"I’m hearing that there should be at least one large scale development in the east end break ground this year , which should again help to fill another gap downtown" - Greg Turner, Councillor, City of Moncton via Facebook

Any ideas? Location?

There's a lot of land at King & Main, next to Staples. There have been development rumors around that location for a long time. There were even some renderings posted at one time. About a year ago the city expanded the geographic footprint for the downtown development financial incentive program. This land is now within the boundaries. Maybe we will finally see something happening here. If we do I hope it's something substantial.