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Council Approves Coast Guard Agreement

(Saint John, NB) The City of Saint John has reached an agreement of Purchase and Sale with Fisheries and Oceans Canada for a piece of harbourfront property on Water Street in the City Centre known as the “Coast Guard Site.”  The agreement was approved by Saint John Common Council at the January 31 meeting. The property will be acquired in two phases -- phase one in January 2011 ($832,000) and phase two ($1,967,000), 18 months later.  The sale also includes all buildings on the property.

“This is one of the most preferred parcels of properties on the waterfront and it is now a long-term asset for us,” said Ivan Court, Mayor of Saint John. “This development will be a major enhancement to our Uptown, and is very much in line with what citizens have been telling us through the PlanSJ, the process for our new  municipal plan – encouraging revitalization in the Uptown by providing commercial, residential and waterfront access.”

Acting on behalf of the City of Saint John, Saint John Waterfront Development (SJWD) negotiated the acquisition over a period of nine months.  Saint John Common Council has now instructed Saint John Waterfront Development to continue to manage the phased development of the site.  This will be the first major private development on the City’s waterfront since 1992.

Over the past several months, SJWD has also been working with potential investors and developers to kick-start the phased build-out of the property.  The City of Saint John has entered in Memorandum of Understanding with the Hardman Group as developer.

SJWD will work with the Hardman Group to ensure development will include significant public access to the waterfront. Work on the site is expected to begin later this year.