Moncton Developer Purchases Former Bell Aliant Building
MONCTON — A Moncton-based property developer has purchased the former Bell Aliant building on Mapleton Road and plans to build multi-residential apartment buildings within the next year or two.
Thrive Properties announced via Facebook late last week that it had purchased the land, which consists of approximately 10 acres around Mapleton Road and Park. According to its Facebook post, Thrive will draft a master plan for the site immediately.
The news comes as the developer finalizes construction for The Tides, a new apartment building being constructed on Coverdale Road in Riverview. That building is expected to start accepting tenants next summer.
Company CEO John McManaman wouldn’t say how much Thrive purchased the Bell Aliant property for, but he said the company has talked with the telecom brand about purchasing the property on and off over the last five years that it has been on the market.
Thrive currently owns approximately 180 acres surrounding the property, which includes the area bordering the Trans-Canada highway to Wheeler Boulevard as well as behind the Kent’s Building Supplies being developed on Moncton Street.
In an interview, McManaman said residents can expect multi-residential apartments for senior living, a trail system and other community green spaces. He said the company’s goal is to develop a “master plan” community, which would be “leading in design” for New Brunswick.
“We do think it’ll be a very nice place for people to live because they’ll have a view of Mapleton Park from that site as well as all the amenities in the area,” said McManaman.
The company also plans to take on a project just across the street on Cabela Court this summer. McManaman said Thrive owns about eight acres of undeveloped land near the Princess Auto and Ultramar locations.
The goal of that area is to develop another apartment project, which will be located directly near Mapleton Park and will give tenants access to the park’s trails from the front door.
As for the original Bell Aliant building on the property, McManaman said it may be used on a temporary basis, but it will eventually be torn down and repurposed. There will also be more mid-rise buildings to have more density and less sprawl.
“We take pride in what we do and the intention is to work very closely with the city, as well as the general public as far as formalizing our plans once we advance them,” said McManaman.
Aaron Sousa is a summer intern for Huddle. Send him story suggestions: [email protected].