[Moncton] Downtown Developments

[Leroy321]

^^^

I thought that to but there is another posting already for 162 queen st.

[jonny golden]

If Ashford is exiting residential construction, what does this mean for Downing Street? Is this project doomed???

As the old saying goes: Where there's smoke, there's fire. Selling off land that they were intending to develop can't be a good sign. Look at Thrive Properties for example. They've gone dormant and are selling off their land that they once had big plans for.

Ashford purchased the Assomption property in 2019, and I always thought that 2026 would be the year that we'd see them start their "big project".

I say this, because the city had the infrastructure work of $32 million spread out over several years, finishing in 2025. I couldn't see Ashford starting construction while the city was doing underground work on the property.

But honestly, who really knows what's going on. The lack of any updates from any of the players involved is frustrating. Maybe they have to keep things under wraps until all the pieces are in place, who knows. And so we wait.

And what about ICON? No news from them on what their next project will be. Infinity?

[new kid in town]

Man these last couple pages are bleak. I really wish at the very least Infinity happens within the next 2 years (and honestly this is already stretching it as we were supposed to see movement last year weren't we?).

[MonctonRad]

Originally Posted by new kid in town

Man these last couple pages are bleak. I really wish at the very least Infinity happens within the next 2 years (and honestly this is already stretching it as we were supposed to see movement last year weren't we?).

Of all the stalled projects, I have the most hope for Infinity. I do think it will get started this year.

The project I am least hopeful for is arguably the most important - Ashford/Downing. Ashford appears to be changing focus and both the federal and provincial governments are less than forthcoming with funding for the public components of the project. The ducks are not coming together in a row, This project will not proceed quickly, and, if not completely imperilled, may end up looking drastically different than what we anticipated. I personally think that it is vital that there is a residential component to this development. Would it be better if another developer were also involved (like Lafford) to make this happen??? This would be tricky since Ashford owns the land. Could there be a partnership???

There are too many variables in play right now to predict what will happen. Would the city be willing to go it alone with the relocation of the city market and the convention centre in the absence of federal and provincial participation? If (as I suspect) there is a hotel component to the Ashford proposal, then a convention centre component will be an absolute necessity. Without the convention centre, the whole thing could fall apart.

It really all depends on the feds and the province. The convention centre justifies the private component of Ashford/Downing. Ashford may not be sufficiently capitalized to proceed otherwise. They will have to convince the banks that this project is a viable one.

It is quite literally a house of cards.........

[jonny golden]

I don't know when Ashford would have first applied for government funds, but these things can take a long time. That being said, they acquired the Assomption land in 2019. What's been happening behind the scenes, and when, who knows.

We now have 3 major developments downtown that the city has done expensive underground infrastructure work to support.

[Mud]

Originally Posted by Leroy321

This has been on CCD for a couple of months. I am just wondering if anyone has heard anything on this. I find it odd because this building still has businesses and such still open in it.

I know the northern most section has sat empty for a long time so maybe it's just that portion they're taking down and replacing?

[MonctonRad]

Originally Posted by MonctonRad

The NIMBYS of Kipling Court have won. The proposal for a new six storey building on the campus of Peoples Park Tower failed to pass third reading at tonights city council session. This proposal is DEAD.

I see that there is now a large "for sale" sign on the land next to Peoples Park Tower where this expansion was to have been built.

This lot can be built on for multiple types of uses "as of right" (so long as the building is no taller that three storeys).

I hope the residents of Kipling Court will be rewarded with a new QSR of some kind on this lot (like Taco Bell or Dunkin Donut). They will not be pleased with the result and, there will not be a damned thing they can do about it.

I would think that a nice six storey senior citizens complex would be much more popular when viewed in terms of the alternative (a fast food joint with late night hours). Kiplingites will have only themselves to blame........

[Leroy321]

^^^

I wonder if they will try to obtain another property downtown and develop it there.

[MonctonPerson]

Originally Posted by MonctonRad

These are the variances being sought for the proposed new four storey building at 71 Gordon Street:



It should be noted that this building will not occupy all the vacant land on the north side of Gordon Street in this location, only the lot on the NE corner of Gordon/Elm.

This plan was approved - but I see the lot was just listed for sale...
https://www.realtor.ca/real-estate/29798995/65-gordon-street-moncton

Prime Downtown Moncton Development Opportunity! Located at 65 Gordon Street, this approved 4-storey mixed-use project offers a rare shovel-ready investment opportunity in the heart of Downtown Moncton. Major legwork has already been completed, allowing developers to move forward without the typical delays and approval process. The proposed development features a flexible commercial main level designed for either one large commercial space or two smaller commercial units, along with 9 residential one-bedroom apartments spread across the upper three floors. The top level also includes a planned rooftop terrace, adding additional appeal for future tenants. Building permits have already been approved, floor plan renderings are completed, and the project is ready to break ground. Estimated residential income is projected between $12,000$14,000 per month, making this an attractive addition to any investment portfolio. A fantastic opportunity for developers seeking a turnkey downtown project in Moncton.

[Leroy321]

It's nice to see they added some better renders

[MonctonRad]

Triple post (first time I've ever done that). SSP was glitching at the time......

[MonctonRad]

Double post.

[MonctonRad]

Originally Posted by MonctonPerson

This plan was approved - but I see the lot was just listed for sale...
https://www.realtor.ca/real-estate/29798995/65-gordon-street-moncton

So, the old "buff and turf" then.

Buffing and turfing is subversive (and cynical) medical slang for making a hospitalized patient look better and less difficult to manage than he actually is before transferring his care to another hospital service or department for more long term management.

It would appear the original proponent in this case never had any intention to actually construct this building, but, instead presented a plan (successfully) to city hall to allow for the proper zoning in order to make it happen. The proponent thus will have significantly increased the value of this vacant property before selling it. If he succeeds in the sale, he will have made a tidy profit for what amounts to nothing more than some administrative work.



A nice looking little bit of infill. I hope this or something like it eventually gets built on this property, but, at present, we are no further ahead........

[jonny golden]

I've seen this kind of offer before, but I'm now sure how successful they've been.

[MonctonPerson]

Similarly, property off Salisbury Road council recently approved - despite neighbours opposing - for an apartment building was recently listed.

https://www.realtor.ca/real-estate/29707134/280-salisbury-road-moncton

Prime opportunity for builders and developers to secure a ready-to-advance multi-unit site in Monctons growing west end. The property is currently in the final process of being rezoned to R3, positioning the future owner with a buildable lot for higher-density residential development. Pre-Approved for a 36-unit, 3-storey apartment project, with civil engineering, servicing layouts, and wetland delineation already completed. The environmental wetland delineation work has clearly established the development envelope, allowing for efficient project planning while still offering flexibility for a buyer to implement their own building design and layout. With direct frontage on Salisbury Road, this site is ideally located just 200 meters from the Edinburgh Drive / Moncton Industrial Park area, and only minutes to Downtown Moncton and Riverview, offering strong appeal for future tenants and long-term rental demand. An ideal opportunity for local builders to step into a project that has already cleared the early planning stages, significantly reducing timeline and upfront risk while maintaining full control over the final product. Concept plans and supporting materials available upon request.

[MonctonRad]

I hope buffing and turfing does not become a trend in the city.

There must be some way to prevent this. Perhaps by making zoning changes and approvals conditional upon actual intent to build, with the city having the authority to revoke the rezoning and approvals if the property is put up for sale within two years of the approval.

[jonny golden]

Originally Posted by MonctonRad

I hope buffing and turfing does not become a trend in the city.

There must be some way to prevent this. Perhaps by making zoning changes and approvals conditional upon actual intent to build, with the city having the authority to revoke the rezoning and approvals if the property is put up for sale within two years of the approval.

Agree. I think the success rate of this business model would be low, so hopefully it won't become a trend.

If the proponent doesn't want to hold the asset, I think a better option would be to list the property, proceed with construction then sell it.

Like this listing in Riverview. A wooded lot just recently cleared, where they're planning to build a small four unit building. The lot is currently for sale: https://www.realtor.ca/real-estate/29475913/lot-00-1-berkley-road-riverview

[adamuptownsj]

Originally Posted by MonctonPerson

Similarly, property off Salisbury Road council recently approved - despite neighbours opposing - for an apartment building was recently listed.

https://www.realtor.ca/real-estate/29707134/280-salisbury-road-moncton

Agreed on the various rezone-flip issues, but what gets me with this particular one is not aligning the lot entrance to Webster. Maritime cities in general have to do a better job on things like this.

[Leroy321]

This is a listing for the commercial building in the Franklyn Yards development:



https://www.royallepagecommercial.com/property/NB137459/lot-millennium-blvd-moncton-nb-e1c-0l7

[MonctonRad]

Looks very nice. I have come around in my opinion on the Franklin Yards. Despite the apartment monoculture of this development, it has generally been quite well done, and, when viewed from the sportsplex lands around the Greenfoot Energy Centre, actually looks quite interesting. This new commercial building will be the icing on the cake.