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Maritimes  + Apartments  | 
The City of Fredericton, N.B., has approved a major mixed-use development that will include seven apartment buildings.

Fredericton Approves 870-Unit Apartment Project

The City of Fredericton, N.B., has approved a major mixed-use development slated to include seven rental apartment buildings.

Local developer Cedar Valley Investments, which is headed by Louie Youssef, will lead the project. The development is located on a 35-acre land parcel, which Youssef purchased in February 2023, at Golf Club Road and Prospect Street.

According to a city planning advisory committee report, Cedar Valley, which purchased the land in the property will build 870 multi-residential units along with townhouses, single detached homes and commercial spaces.

In granting approval, city council approved zoning changes that allow for the different housing types.

The project had drawn some opposition from residents, councillors and the planning advisory committee, which rejected the proposal. CBC reported that city council approved the project by an 8-3 vote with one councillor absent.

In another project that could see more rental housing built, the city is looking to redevelop its exhibition grounds.

Image: City of Fredericton/Spitfire Architecture


Inside The Story

City of FredrictonCedar Valley Investments

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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