Moncton Developer Breaks Ground On 74-Unit High Rise In Riverview
MONCTON — A Moncton property developer says it has broken ground for a new high-rise apartment complex on Coverdale Road in Riverview.
Thrive Properties, which recently purchased the old Bell Aliant building on Mapleton Road, began construction work on “The Tides” in July after planning the project for about 12 months. The five-storey building will feature 74 pet-friendly apartment units along with underground parking.
John McManaman, CEO of Thrive Properties, said in an interview Thursday the property overlooks the Petitcodiac River and is located right along the Riverfront Nature Trail. He says the building is a 15-minute walk from downtown Moncton thanks to the Gunningsville Bridge.
The Tides also features nine-foot ceilings, large windows and patios, a common lounge, gym facilities and is close to amenities in Riverview’s downtown core. It was designed by Halifax-based Fathom Studios and is being constructed by Moncton’s Newco Construction.
“The other nice thing it [sits near] the Moncton Golf and Country Club, so if someone likes to golf, they could walk from their unit right to the golf course within 30 seconds because it’s right at their back door,” said McManaman.
McManaman said his company wanted to build in Riverview because he saw a shortage of available units in the Greater Moncton area. He believes community members like retirees would benefit from more high-quality products.
Plus, McManaman also lives in Riverview.
“We think it’ll help continue to vitalize the riverfront,” he said. “I think that the riverfront in Riverview is an exceptional element of the town, but we think there’s a lot of growth that can happen in the downtown core of Riverview, which will all add to the vibrancy of the riverfront.”
The building isn’t set to be move-in ready until late summer 2022, but McManaman said there has already been a high level of interest for the units. That’s not a surprise considering other features like high security, additional in-building storage, sound suppression and energy-efficient construction.
“We’ve had some people that have called us and we told them that we added them to the list, but they actually came to our office to make sure that we understood they’re serious about wanting to be in the building,” said McManaman.
“So, we thought that was kind of interesting.”
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Aaron Sousa is a summer intern for Huddle. Send him story suggestions: [email protected].