FREDERICTON – Commercial Properties plans to construct a new building in downtown Fredericton that could include a mix of “Class A” office space, retail outlets and residential units, the company announced Tuesday.
The 92,000-square-foot building would be located at the corner of Regent Steet and King Street.
“This is a prime location in Fredericton and we expect significant interest from the community,” said Paul Moore, General Manager of Commercial Properties, in a news release.
“In addition to being a premium location for new offices, we also think it has significant potential for retail and even residential space.”
There hasn’t been a new building with Class A commercial office space in more than 20 years in downtown Fredericton. Now there could be three with another two other major developments on the horizon.
In late January, Ross Ventures announced that it had secured an anchor tenant for a new office building on Carleton Street in downtown Fredericton.
In late February, Kileel Developments Inc. announced that it’s planning to construct a building with up to 75,000 square feet of office space at the corner of King Street and Westmoreland Street. The company is currently negotiating with potential tenants and needs commitments to fill 75 per cent of the space to proceed with the development.
The Commercial Properties building is still in the planning phases, and no date has been set for construction to begin. The proposed six-story building will take up only a portion of the available land, making additional development possible.
“This is a very strategic location and we would like to leave room open for other future projects,” said Moore.
Saint John architects Murdoch and Boyd will design the new building that will blend traditional and contemporary elements, including a brick façade on the lower floors with glass on the upper floors.
Commercial Properties owns and operates many buildings in New Brunswick, such as Brunswick House and Centerbeam Place in Saint John and Commerce Place in Moncton.
Several of its largest properties have achieved Gold status in Leadership in Energy and Environmental Design (LEED) or BOMA Best certification.