Just want to give everyone a quick update on two of the up and coming projects slated for the Saint John Area.

Project Eider Rock

Irving Oil announced that they have halted plans to build a second Irving Oil Refinery here in Saint John. This decision was made based on an 18 month feasibility study that showed that the demand was to low to continue with the plans for the proposed refinery. Full details can be found in the article in the Telegraph Journal which can be found here. Although the proposed project was set to create thousands of jobs and spin off business, we feel that this isn’t a big hit to the investment or rental market here in Saint John.

LePreau 2

Plans to build a second Nuclear Reactor at the Point LePreau Nuclear Generating  station are still on track. For full details of the latest release, find the article from the Telegraph Journal here.

Saint John has been going through a growth stage, we’ve seen a great deal of development in the industrial, energy, retail and real estate, sectors as well as infrastructure in the city.

Be sure to keep an eye on our blog as well as the CanadaEast.com website for more news.

It’s been a while since I’ve posted some information on what’s new and exciting in Saint John. As I’m out and about during the course of my day, I see many great things happening in and around our city.

Earlier this week the Telegraph Journal outlined some of the completed projects, projects under way, and proposed projects in Saint John. Completed projects totaled $485 million and ongoing projects totaled almost $2 billion. The article also touched on $167.6 million worth of proposed projects.

Some of the ongoing projects in our city  include: [not all of these projects were included in the totals above]

• Upgrades to Lancaster Mall (West Saint John)
• Construction of Studio 6 (West Saint John, by Burger King)
• Construction of a new Canadian tire Building (West Saint John)
• New Strip Mall & Staples (West Saint John, by Sobeys)
• Market Square Expansion (Uptown)
• Saint John Regional Hospital Expansion (North/Millidgeville)
• Chateau Saint John (North)
• Rockwood Park Development (North)
• One Mile House Interchange (East, will connect Russell Street/Rothesay Ave to the Highway & North)
• New Saint John Transit Headquarters (East)
• New Canaport LNG Terminal (East)
• New Costco Store (East, in the East Point Shopping District)
• McAllister Place Upgrades (East)
• Expansions at both NBCC Saint John & UNB Saint John (Post Secondary Education, East & North)
• Redevelopment of Simm’s Corner (West Saint John)

Above and beyond these commercial projects, there is a wide variety of ongoing and up and coming real estate projects.

In other news, on Tuesday Saint John landed it’s first cruise ship of the season. The ship docked at the newly constructed Marco Polo Cruise Terminal on the Saint John waterfront. CBC reported on it, and you can view it by clicking the link below.

1st cruise ship of the season lands at Saint John

One thing is for sure, Saint John is in great shape economically and is in a great position for investors to start investing in both real estate and business here in the port city.

There has been talk for a long time about Costco (a wholesale store for consumer goods) coming to either Saint John or Rothesay for a long time. After quite a bit of hearsay, the land deal for Costco is done, and construction is underway.

I think it’s great Costco is coming to Saint John. It should attract more consumers and businesses in the area. The fact that Costco is building their new store on a large 13 acres pad in the East Point Shopping district goes to show that although there may be economic uncertainty in some parts of the country and world – thing’s are well here in Saint John.

I’m glad to see the steady growth of our city, and look forward to prosperous years to come. If you’re thinking about investing in Saint John, please contact us.

For more information, read the full story from the Telegraph Journal: Getting Ready For Costco.