[Moncton] The Three Sisters - 20 Record Street | 3x58m | 3x15s | Under Construction

[BlackYear]

If Lafford was to purchase the Cooperators Insurance property and if they can move the substation to another location, and Lafford was to purchase that last piece of property puzzle, popping champagne bottles in the Lafford office would be well deserved.

[jonny golden]

Originally Posted by BlackYear

If Lafford was to purchase the Cooperators Insurance property and if they can move the substation to another location, and Lafford was to purchase that last piece of property puzzle, popping champagne bottles in the Lafford office would be well deserved.

I hope it happens. If Co-op were to move into the 1222 Main Street building, we'd finally see it come to life. Of course it needs to be brought up to modern standards like its twin was a few years ago.

I still think it would be wise to redevelop 1222 Main as a mixed use building. Expecting it to fill up with office workers is a pipe dream in today's market conditions. I'm sure Tier Too Properties is well aware of this with 1234 Main being only 50% leased.

Perhaps a 1-2 floor boutique hotel would work, being next to the Avenir Center, and also it's well known that there's been great success in other cities converting vacant office buildings to residential units after covid. Tier Too has experience in both the residential and hotel businesses, with West Royalty suites in PEI And Microtel in NS & PEI, so it seems like it would be a natural fit for them.

Ground floor retail/service businesses would really give this plaza a shot in the arm too.

[MonctonRad]

If this rumour is true, I strongly suspect Cooperators will lease space in 1234 Main, bringing this building to close to 100% occupancy.

This building has ready to use leasable space and there would be no waiting for extensive renovations to take place.

At the same time, this would allow Tier Too/The Gray Group to keep their powder dry as to what to do with 1222 Main and the adjacent vacant land between this building and the Avenir Centre. There is enough spce here for a truly transformational development, especially given it's prominent location.

[jonny golden]

That's exactly what I thought as well. So I looked at the available space in 1234 and it's just under 20,000 sq. ft. That's not even close to enough space to replace the Co-op building, so that's why I thought about 1222. 1234 is much more than 50% leased!

I too would love to see a trans-formative development here, incorporating the old telegraph building. I'm just not sure Tier Too has it in them.

None the less, it's a very interesting rumour.

https://pm-co.ca/1234-main-street/