Mayor Don Darling calls it the “most expensive parking lot in Atlantic Canada” – that is what the site of the former Coast Guard base on the waterfront has become. But transformation is underway as the Fundy Quay Development group works on its vision of a $300,000,000 mixed commercial – residential development known as Fundy Quay along the waterfront in the city centre.
Today – Saint John – Rothesay MP Wayne Long announced $9,000,000 in federal funding for work on an upgrade of Loyalist Plaza – a pedway connecting Market Square to the Fundy Quay development – and extension of Harbour Passage and the Boardwalk around the new development. Premier Blaine Higgs announced the province is contributing $6,000,000 to the project while Mayor Don Darling says the city’s contribution is $9,000,000. Common Council will ratify the city’s contribution at Monday night’s council meeting.
Funding is already in place for repairs and adding height to the seawall to offset a projected rise in water levels due to climate change. That work is scheduled to begin in the Spring along with site preparation and environmental clean up of the area.
Fundy Quay Developments president – Dr David Elias – says he is hoping to begin foundation work on the site within 24 months.