Moncton eyes spending $32M tied to 'transformative' downtown development

Moncton'srecently approvedbudget includes more than $32 million in spending over four years related towhat city staff call a "transformative" downtown development south of Main Street in an area now used for parking.

The city's capital budget forecasts spending $7.9 million related to "Ashford's downtown development plan" in 2022.A further $10.2 million is scheduled in 2023, with $8.1 million in 2024 and $5.7 million in 2025.

Jack MacDonald, the city's general manager of sustainable growth and development, told CBCthat city staff are discussing plans byThe Ashford Group for "a very large development" that will require city spending on water and sewer lines as well as a new east-west streetparallel to Main Street.

"We feel that this is a significant project,"MacDonald said in an interview Monday, adding specifics about what's planned would need to come from the company.

"It's a transformative project with respect to our downtown. So it's something I think that we can get behind."

Moncton-basedAshford Grouppurchased the 20-storey Assumption Place tower and parking lots between Main andAssomption Boulevard in 2019. At the time, the company told CBC it envisioned building more retail, restaurants, office space, and residential units in future years on its property.

The company declined to comment on its plans for this story.

Councillors have been given an indication of what is in the works.

"I don't know that much about the project at the moment, but from what I've seen, it's a beautiful project," Coun. Paulette Theriault, who represents the area,said in an interview. "It's really a great project for Ward 1 and for our downtown."

Theriaultdeclinedto go into specifics. She said she hopes the public sees what's planned soon.

Moncton's Downtown Core Community Improvement Planapproved in 2018 calls for a new east-west street through the land Ashford owns.

The plan calls for a street from Foundry to Downing Street through an area where the March Moncton Market stands.The plan calls for moving the market to an area west of Downing Street.

However, the new street and relocated market were said to be contingent on private development proposals in the area.

The budget allocates $500,000 to buy land for a new street downtown.MacDonald said a new street the downtown plan calls for is part of the discussions with Ashford.

He noted the market building, owned by the city, is showing its age.

"Are we are we going to do something with that market at some point in the future? Are we going to leave it where it is?Relocate it andbecome part of another development?We have to make a decisionon the market ourselves at some point in terms of capital investment. So yes, that's part of the discussion [about Ashford's plans]."

During city budget talks, several councillors referred to the idea of moving the market.

A budget line worth$50,000 for market upgrades, including a new sound system promptedCoun. Paul Richard to ask if that sound system could be relocated.Shane Porter, the city's manager of venues, said they're trying to be careful about spending on the market.

"It would be something we could bring to a new facility," Porter said of the sound system.

MacDonald said Ashford's plans offer a chance for the city to upgrade old underground infrastructure like water and sewer lines, and add a separate storm waterdrainage system.

"We're also looking at putting power underground through the underground electrification and also an opportunity at that point, because the sea level rise, to maybe adjust the elevation of some of our streets," MacDonald said.

Raising the level of streets like Assomptionwas contemplated in the downtown plan to reduce the risk of flooding in the coming decades.

The city's budget indicates it hopes to receive millions from the provincial and federal governments to offset the $32 million cost.MacDonald said he doesn't think the city would move aheadwithout money from those other levels of government.

He indicated there are a lot of details still be worked out and expects some aspects of the plan may become public early in 2022.

Moncton's capital budget also callsfor overhauling Lutz Street south of Main Street at a cost of $7 million next year.The work has been delayed from previous budget years.The city has budgeted to cover $2.4 million of that with funding from other levels of government.