Willow Tree Property Sold, Will Become 25-Storey Senior’s Home
The Willow Tree Tower property at the corner of Robie Street and Quinpool Road has changed hands. The new owners plan to build a 25-storey seniors home.
The Willow Tree Tower property at the corner of Robie Street and Quinpool Road has changed hands. The new owners plan to build a 25-storey seniors home.
The development offers mid-priced, pet-friendly housing. The demographics of the renters are expected to be young professionals and students, and some people who are downsizing.
Rezoning to permit the two and three-bedroom apartment building passed first and second reading at Fredericton City Council on Monday night. Those mid-to-high-end units are expected to rent for about $1,400 to $1,800 a month.
The $3.2 million project project will include affordable apartments and community spaces.
The garage, located on the corner of Canterbury and Grannan Streets, will be redeveloped into The Telegraph, which will house 32 residential units and street-level retail or commercial space.
Mayor Mike O’Brien says the growth was fueled mainly by private-sector projects with less than one per cent of the permits tied to government investments.
Managers of Saint John’s main shopping centre say they are working on a new addition that will replace the large vacancy Sears left behind when it closed last year.
The company, which has made its name in renovating old historical properties in Uptown Saint John, is now looking for tenants for Parrtown Place, a building housing 25 units, a mix of one and two bedrooms.
The developer converting the former Salvation Army shelter into a 20-unit apartment building is almost ready to have his first tenants move in.
The 16-storey building has been purchased by Saint John developer Keith Brideau, Alex Elias and Dr. David Elias for $3 million.