Fundy Quay Funding Expected Friday

Long-awaited government funding to help redevelop Fundy Quay in uptown Saint John is expected to be announced Friday, our newsroom has learned.

The funding would pave the way for a proposed $250-million multi-use development on the former Coast Guard site along the waterfront.

An infrastructure announcement involving Mayor Don Darling, Premier Blaine Higgs and Saint John-Rothesay MP Wayne Long is set for 10 a.m. Friday.

Standing along the waterfront, Long gave a sneak preview of the announcement in a short video posted to Twitter late Thursday afternoon.

“Tomorrow, alongside the city and the province, we will make a major announcement that will unleash the economic potential of our waterfront,” said Long.

It has been just over a year since council signed an agreement with Fundy Quay Developments to develop the former Coast Guard site.

Local developer Dr. David Elias, who is also part of Friday’s announcement, plans to build a $250-million multi-use development featuring commercial and residential spaces.

But before construction can begin on the much-anticipated project, the city must deliver a “development ready” site.

On Thursday evening, the city’s finance committee endorsed an updated 2021 capital budget, which included the addition of several projects to advance the Fundy Quay redevelopment.

The projects include contaminated soil remediation, site re-grading and seawall refurbishments at the site, along with the redesign of Loyalist Plaza and the extension of Harbour Passage around Fundy Quay.

According to the capital budget documents, the projects are estimated to cost around $27 million, with the city footing the bill for nearly $9 million. The rest would come from “other” sources including provincial and federal programs.

City staff recently issued a series of requests for proposals for work related to the projects, with the caveat that provincial and federal funding be secured before the end of March.