[Moncton] Downtown Developments - Page 68

MonctonRad · #**1341** Posted **Dec 6, 2014, 3:10 PM**

Quote:

Originally Posted by L'homard

Interview with Bubba Ray's founder is online at the T&T's website all afternoon, so it's confirmed. Sounds pretty yummy.

Read the article today.

Sounds like it will be a great spot. Apparently they hope to be open by mid January.

The owners state they were drawn to the location by:
1- The concentration of successful and popular restaurants in the surrounding area (kind of puts pay to recent aspersions on the forum about struggling downtown restaurants).
2- The anticipated construction of the new events centre several blocks away (are you paying attention to this Mr. Premier).

SaintJohner · #**1342** Posted **Dec 6, 2014, 3:29 PM**

Bubba Ray's is fantastic, really great wings too especially on wing night!

L'homard · #**1343** Posted **Dec 7, 2014, 2:08 AM**

Quote:

Originally Posted by MonctonRad

Read the article today.

Sounds like it will be a great spot. Apparently they hope to be open by mid January.

The owners state they were drawn to the location by:
1- The concentration of successful and popular restaurants in the surrounding area (kind of puts pay to recent aspersions on the forum about struggling downtown restaurants).
2- The anticipated construction of the new events centre several blocks away (are you paying attention to this Mr. Premier).

Lots of restaurants seem to be faring well on Main St when I'm there, from tim's and starbucks, to Gusto, the Keg, ol' standbys like the Pump House and Pastalli's, Graffiti did well until the dispute over its kitchen, the new Malaysian place that replaced the Red Pepper, Brooklyn Deli, just to name a few. These places are packed whenever I drop in. No wonder Bubba looked at the old Paramount as the way to success. I've never been to their halifax places but by all accounts they are well regarded. Lots of excitement at work when coworkers found out they are setting up here in about one month. I'm in!
EDIT: And Piatto of course! Can't get a seat after 11:30 a.m., often. So go earlly.
EDIT REDUX: Hibachi Grill! Make a reservation or risk disappointment. It's always full.

NBNYer · #**1344** Posted **Dec 7, 2014, 11:28 PM**

I just noticed a sidewalk construction canopy alongside the Aliant Tower while downtown today. I haven't noticed it before, is it left over from the last renovation or is this new?

I always hoped that the base of the Aliant tower could be improved somehow. It's in a prominent location downtown and such an eyesore in contrasts to some great adjacent buildings on Queen street.

ErickMontreal · #**1345** Posted **Dec 12, 2014, 5:26 PM**

The Junction - Urban Village - Moncton - NB
Commercial / Hotel / Investment / Office / Retail

Property Features

+/- 11 acre development project at one of Moncton's highest traffic intersections at the corner of Main and Vaughan Harvey

High profile site, Moncton's largest and most exciting and progessive project

Multi-purpose concept that will feature a mix/variety of retail, restaurants, cafes, first class office space, possible hotel and various types of residential living

Property will feature pedestrian walkways and trails that will provide easy access to Jones lake and the Riverfront Park's 5 kilometers of multi-use trails

A unique LIVE. WORK. SHOP. PLAY experience for downtown Moncton

Over 27,500 average daily vehicle traffic

Location

The subject property is situated in Moncton, New Brunswick, ideally located at the intersection of Main Street and Vaughan Harvey Boulevard. This location is adjacent to the recent development of Sobeys, NBLC and Shoppers Drug Mart. On the opposing corner is the city’s Economic Center where The Moncton Chamber of Commerce and Enterprise Greater Moncton are located. The site for the City’s proposed $100 Million sports and entrainment complex is one block away.

Cushman & Wakefield Atlantic :: http://cwatlantic.com/properties/the...urban-village/

MonctonRad · #**1346** Posted **Dec 12, 2014, 5:43 PM**

Wow,thanks Erick, now we have a firm proposal for the land on the SW corner of Main and Vaughan Harvey! I like this. Fairly high density and the buildings face the street with the parking in behind. Very urban!!

This is one of the three parcels of land just waiting for the Events Centre announcement.

Again Mr. Premier - the balls in your court.....

ErickMontreal · #**1347** Posted **Dec 12, 2014, 6:05 PM**

Quote:

Originally Posted by MonctonRad

Wow,thanks Erick, now we have a firm proposal for the land on the SW corner of Main and Vaughan Harvey! I like this. Fairly high density and the buildings face the street with the parking in behind. Very urban!!

This is one of the three parcels of land just waiting for the Events Centre announcement.

Again Mr. Premier - the balls in your court.....

Indeed, very urban! If we set aside the Event center, this is to me the best proposal that came out of Moncton in a while.

You have in one project what is utterly lacking in the city core : population density, walking distance amenities, retail space and in some extent, urbanity.

The building at the corner, if built as proposed, should be roughly the same height as both BMO and city hall.

NBNYer · #**1348** Posted **Dec 12, 2014, 7:45 PM**

It's at least better than I expected that development to be. Very reminiscent of what was once proposed for the corner of Assomption blvd and Westmorland street across from the courthouse.

How likely do people here think it is that this project will come to fruition?

pierremoncton · #**1349** Posted **Dec 12, 2014, 7:53 PM**

Looks great. Reminds me of The Village on Dieppe Blvd.

On page 9 of the PDF, it says:

BULDINGS C
Below is a concept rendering of The Junction-Urban Village looking southeast along Vaughan Harvey at the existing intersection across from Shoppers Drug Mart. Westmount Developments is currently advancing a project to develop this building as a ground level retail and upper level multi-residential building as a first phase for the development of the site, with a target start in early 2015.

I hate to say it (RyeJay's gone so someone has to do it), but call me skeptical on that aggressive date. The office space vacancy rate is just as bad as the rental vacancy rate.

Central Area Class A Vacancy Rate
2013 2014F 2015F
Vancouver 5.3% 7.7% 10.5%
Edmonton 7.0% 7.9% 6.3%
Calgary 4.0% 6.7% 7.3%
Winnipeg 3.5% 3.9% 3.7%
Toronto 5.0% 7.0% 8.8%
Ottawa 4.8% 6.6% 5.7%
Montreal 8.3% 9.1% 10.5%
Moncton* 8.0% 11.9% 11.9%
Halifax* 8.5% 11.4% 10.6%
St. John's* 2.7% 5.1% 2.1%

Source: http://www.cushmanwakefield.ca/en/ne...-outlook-2014/

On a related note, the area previously reserved for a second building at 25 Dominion St has been converted into a parking lot. I suspect this is meant as a "temporary" measure until the rental vacancy rate improves, but that could easily last at least 5 years.

MonctonRad · #**1350** Posted **Dec 12, 2014, 8:06 PM**

The timing is bad, no question, but the one thing that could kick start this (and phase two of 25 Dominion) is the confirmation of funding for the new downtown events centre.

This is becoming more and more critical all the time.

ErickMontreal · #**1351** Posted **Dec 12, 2014, 8:54 PM**

Quote:

Originally Posted by MonctonRad

The timing is bad, no question, but the one thing that could kick start this (and phase two of 25 Dominion) is the confirmation of funding for the new downtown events centre.

This is becoming more and more critical all the time.

Well, the funding required to kick start the Event center may well be the anchor needed for something like this to pan out considering the economy and the market state.

However, Moncton is rather small office wise therefore we need to take those office vacancy rate reports with a grain of salt, without downplaying enterily the alarming signs shown on the latest report which put the Class A office vacancy rate at 8.9 %.

Let's speculate regarding the office portion of it.

In the context of this development, the phare building appears, at the first glance, to be a Class A,7-story, 50 000 to 70 000 square foots. In order to get financing, the developer will need to secure tenants for 40 % of the total square footage. I suspect the bottom floor will be used for retail/restaurant which would required the promoter/broker to find tenants to filled out the remaining office space. Finding out tenants for that kind of space isn't out of reach for a market as Moncton, even having taken in account the rather high vacancy rate. The tenants that would required the amenities of a Class A building often time also need the visibility offered by such a prominent location (banks, lawyer firms) therefore may commit to it.

Hali87 · #**1352** Posted **Dec 12, 2014, 11:53 PM**

The Junction looks fantastic!! Combined with things like the Downing Street redevelopment, this seems like a huge step in the right direction for the city, both conceptually and design-wise.

mmmatt · #**1353** Posted **Dec 13, 2014, 12:08 AM**

WOWWWWWWW!!!!!

That would be amazing!

Not only for the city but for me personally as its about 50 feet from my house

Mr Premier already skrewed me once with the property tax thing

...please dont cancel the events center too!!!

(sorry if I'm loud today)

MonctonRad · #**1354** Posted **Dec 13, 2014, 12:20 AM**

In addition to the renders that Erick posted above, I thought I would also post the site plan from the pdf marketing brochure:

SaintJohner · #**1355** Posted **Dec 13, 2014, 2:20 AM**

Filling new buildings will be easier than you think, the problem is that a lot of the vacancies in Moncton and Saint John are not the new buildings, its the older buildings that require a lot of work for the tenants to upgrade, why would someone want to rent out an office space that they will have to renovate to fit there needs when a new building will have all the amenaties. Thats just my two cents though.

Fantastic proposal and I believe, now that Federal government is on board with helping out with the event center and another group saying they will finance the sound system for the arena, I think Gallant will come on board soon.

As for the 55 queen st. I was talking recently to a rep and they said they were going to break ground in fall, but fear of early snow fall and bad weather, made them push the ground breaking until spring. They fell like starting in the fall and winter would be too much of a set back. The building is over 65 % "filled" , very few apartments left .. so spring will be ground breaking.

Also they wouldn't release this new project without having some interest, they obviously have tenants they are in conversations with, I am sure they wouldn't give out a start date if they didn't have some some interest.

Ps. someone should post this proposal on the the main canadian page for city proposals or whatever the page is.

SaintJohner · #**1356** Posted **Dec 13, 2014, 2:40 AM**

Also, imagine, new arena, this development, the Alquini block, the development that could happen on the other side of the tracks... there is a lot possible with this project.

MonctonRad · #**1357** Posted **Dec 13, 2014, 3:22 AM**

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