Proposed $40-Million King Street Development Goes Before Saint John Council
SAINT JOHN – City council has given its first approvals for a proposed $40-million development at the top of King Street.
There was no opposition to the 12-storey mixed-use development during a public hearing Monday evening.
A rezoning is required for the 55-metre building as it would exceed the maximum building height of 28 and 42 metres established for the area.
Council gave unanimous approval to the first and second readings of the required rezoning and Section 131 agreement. They will still need to receive final approval at an upcoming council meeting.
“I’m excited to bring you this project. We’ve been working on it for quite some time now,” Percy Wilbur, the owner and developer of the site, told council.
Wilbur purchased 91 King Street — known to many as “the former Woolworth’s — and the building next to it in December.
The two buildings, which city staff said had sat vacant for nearly 10 years, were demolished in early June in preparation for the new construction.
Initial plans for the building are for three floors of commercial space, including ground-floor retail, and around 93 residential units on the top nine floors.
Coun. Brent Harris said he does not think it can be overstated how excited the community is for this project.
“This is an example of one person taking on a major initiative in a situation like this that can start to change the narrative for a lot of people and remove some of that cynicism,” said Harris, one of two at-large councillors.
Ward 3 Coun. David Hickey, who represents the uptown area, said people are excited to see “another crane in the sky.”
Coun. Paula Radwan said she was excited to see the design of the building, particularly the incorporation of cornices between the third and fourth storeys and the 10th and 11th storeys.
The lower three storeys of the building will feature a primarily red brick-clad façade, including a sandstone-type trim to emphasize the entrances and windows.
Floors four through 10 will have contemporary cladding in a limestone colour, while floors 11 and 12 will feature the same cladding in charcoal.
“It’s probably a little bit challenging for an architect, I would imagine, to put such a tall building beside some shorter buildings, but I think the way that they have it planned, it’s going to look really good,” said Radwan.
As part of the agreement, the developer will have to submit a wind study to assess the impact of the proposed building on the public realm and the City Market.
Wilbur was asked about his plans for the commercial space, particularly with other nearby buildings struggling to fill vacant space.
A recent review by Halifax-based real estate counsellors Turner Drake & Partners found demand for office space fell by 6.7 per cent year-over-year in Saint John between June 2020 and June 2021.
Over the same period of time, the vacancy rate inched upward to 19.54 per cent — the highest among New Brunswick’s three largest cities.
“We’re starting to toy with the idea of perhaps eliminating one floor of office/commercial just because of the vacancy rates in the city,” said Wilbur, adding they are flexible with the project.
City manager John Collin said the city has made an official request to Envision Saint John to help with the commercial tenancy for the building “because of the importance of this project.”
The growth agency noted that the project is estimated to have a property tax base for the city of between $225,000 to $285,000 a year.
Wilbur said once the final approvals are received, construction on the building is estimated to take two years.
“We’re hoping to get some shovels in the ground this fall or in the spring at the latest,” he said. “It all depends upon tenancy.”
Brad Perry is the news director for with CHSJ/Country 94, Huddle content partners.