There is a looooong tradition of ambitious projects proposed for downtown Moncton which experience significant delays and/or never see the light of day. This is one of them.
I'm sure the developer has the best of intentions, but capitalization may be a problem, and this project will not proceed until such a time when there is sufficient interest by potential partners to allow for this to happen.
On the plus side, this is a large parcel of land on an important intersection within spitting distance of the new events centre development. Something
will get built here (eventually), but whether or not it ends up looking like the initial renderings is certainly up in the air.
I suspect it won't be until at least 2017 (at the earliest) until we see some action here. Once you start seeing tower cranes over the events centre site, this might spur interest in the neighbouring Junction development too.
The events centre
will be a catalyst for growth in the west end of the downtown core, but construction of the events centre won't be complete until 2018. In might not be for another decade after this before we see the full range of adjacent developments take place.
When it comes to downtown redevelopment, you really have to take the long view..........