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Brideau speaks to importance of a vibrant downtown core
The Atlantic Provinces Economic Council (APEC) held its 20th annual Business Outlook Conference on November 3-7 in Halifax, St. John’s, Saint John and Charlottetown. APEC just released the Conference Report “A Look Ahead at the Region’s Economy in 2020”. This report summarizes the key messages from APEC staff and industry panelists, who discussed what businesses can do to prepare for 2020. Two panelists spoke to the issue of urban development:
Andy Fillmore, Vice-President of Planning and Development at Waterfront Development, discussed the need for sustainable, attractive urban development to entice young workers to live in the region. He explained how decades of suburban development in Halifax and underdevelopment in the downtown core has caused a hollowing out of the city’s population. He talked about how young professionals are looking for walkable communities and living in apartments and condos as opposed to purchasing single dwelling suburban homes and cars due to financial constraints and the desire to live a healthier lifestyle. Citing his work with the Council for Canadian Urbanism, Fillmore called for more progressive, sustainable urban development to improve economic health and social inclusiveness.
Keith Brideau, Founder of Historica Group of Companies, described new opportunities for growth in the downtown core. Through his experience of living in urban spaces in Toronto, Brideau was inspired to work in urban development. New IT companies with young professionals want to be based in downtown cores to have access to decision makers and because their employees are based in urban areas. Brideau discussed how housing affordability is an issue with more people looking to live in condos and apartments. He also highlighted baby boomers as an emerging market as maintenance costs for single dwelling homes will be undesirable.
Click HERE to view and/or download the entire report.
Almost a full uptown block under new ownership tonight
Congratulations to Historica Developments on their successful acquisition of a portfolio of 4 uptown heritage buildings.
- 99 Germain Street has been the home of Bustin’s Fine Furniture retail showroom since 1905. Bustin’s Fine Furniture will be staying on as a tenant.
- 107 Germain Street is a 3 story office building currently the home to Dr. Brown, Claire Driscoll, Ispire and Enovex.
- 109 Germain Street is a 5 unit residential apartment building which is fully occupied.
- 30 Canterbury Street (also known as the “Canterbury Car Park”) is a 22,494 sq ft warehouse and parking structure.
The Bustin family had come to own the four buildings over many years in order to secure access to the alley behind the retail store to facilitate furniture deliveries. In recent year, the Canterbury Car Park has served as the warehouse for the furniture store. The large 3 story brick building on Canterbury had attracted inquiries from various developers over the years. Bustins finally concluded that warehousing was not the highest and best use for the building and it was identified as a candidate for redevelopment.
This transaction has been a long time coming with initial discussions starting in 2009. This was a complex transaction encompassing four mixed-use buildings each of which appealed to a different type of buyer/investor. It was important to the Bustin family that the buildings be sold together as a package and, in the end, Bustins and Historica Developments were successful in structuring a deal to make that happen.
Stephanie represented the vendor and Don Clancy, Gardiner Realty Ltd. Royal LePage represented the purchaser.
New windows coming to Princess Street!
91 Princess Street, Saint John
The Landlord, Historica Developments, will soon be installing two new large rounded windows in the front (currently bricked over).
Things are happening on this block!
Saint John Commercial Real Estate 