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Maritimes  + Alberta & Prairies + Canada  + Apartments  | 
Rendering of future riverfront apartment towers in Moncton, N.B.

Moncton City Council Approves Riverfront Towers Project

The Moncton, N.B., city council has approved a two-tower riverfront multi-family rental real estate development project, CBC reported.

Both towers will stand 17 storeys on land south of Assomption Boulevard along Riverfront Park in Moncton. Council voted 7-3 in favour of the project, according to CBC.

Known as Gateway Towers, the $90-million development is slated to contain 380 units across the two towers, two levels of indoor parking and ground-floor retail spaces; and 10% to 25% of the units could be classified as affordable housing, CBC reported.

Construction is slated to begin in December and last about three-and-a-half years, the project’s developer, John Lafford, told CBC.

Lafford heads Sackville, N.B.-based Lafford Developments.

“I was pretty hopeful [of receiving approval] throughout,” Lafford told CBC.

“We are in a time when we need housing, and we are also in a time where a developer has to build in places where people want to live.”

According to Lafford, the chosen location caters to people who want to have a healthy lifestyle and live close to nature.

“This development is less impactful, less harmful to the environment than a sprawling development,” he told CBC.

Rendering: Lafford Developments

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Inside The Story

John LaffordCity of Moncton

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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