The Right Kind of Development for Moncton
The right kind of development As published in the Times & Transcript May 26, 2014
We have often seen retail or commercial property development projects that have consisted of simply clearing the land, hastily erecting buildings and, in essence, paving paradise to put up a parking lot. So, it is refreshing to see that developer Jeff McManaman of Cordova Realty is going to great lengths – and added expense – to create a new retail complex that should serve as an inspiration to developers in the future.
As reported in Saturday’s Times & Transcript, Mr. McManaman’s company is in the process of building a new retail complex at the southwest corner of the Trans-Canada Highway and Mapleton Road, just north of the busy Trinity retail area. But this development will include a new entrance to the popular Mapleton Park with new trees and green spaces.
The company has even gone through the process of working with federal and provincial authorities to divert and revitalize a nearby stream into a brook that is even being stocked with trout.
We believe this goes to show that commercial property development can certainly have benefits to the surrounding areas, and can be done in conjunction with parks and recreational facilities. We applaud the company for taking the extra steps in an economy where development would normally follow the cheapest and quickest route.
We note this development is costing in the $40-million range and is expected to bring with it up to 600 jobs. It is also expected to become yet another destination retail plaza also attract more visitors and shoppers.
We wish Mr. McManaman success as his project continues and look forward to the finished result, as we expect it could become a model for other developments in the future.