Developers aim to create vibrant new communities in old buildings
Claire Taylor just moved to Saint John to get ready for her first year at the University of New Brunswick this fall, and she has the exuberance that comes with new experiences.
It's her first time away from Newfoundland and Labrador, and she already loves Saint John.
"Holy cow, I can see the sun," she said about a recent clear day. "It's beautiful here."
She's good-humoured about the fog, which she encountered her first night in town.
"All the cars are going slow, and I'm like guys, I'm a bayman. Follow me, and I got out in front of them all. I'm good at driving in fog."
She also found a job right away. The one thing that slowed her down was finding an apartment.
"Nothing was in the price range," she said. 'Nothing was a good fit."
Then she and her boyfriend found a place near St. Joseph's Hospital, in a renovated, 25-unit building that's phase one of the Hospital Hill Development.
The average rent is $1,600, including heat, lights and parking. It also has new appliances.
"This is beautiful and the views are amazing," Taylor said. "It's like the best thing that's ever happened to me."
WATCH | 'This is the perfect, perfect price':
All this in a three-storey building that until recently sat empty, beside a vacant site once home to the city's largest hospital. It used to be Red Cross offices, then administration offices for the Catholic church Diocese of Saint John.
"I just kind of fell upon this place," developer Michael Wowchuk said. "I just noticed it was for sale and I'm like, 'Why isn't anyone buying this site?'"
To address housing shortages, local developers are doing a lot of new builds in the city centre. Others, like Wowchuk, are repurposing and renovating existing buildings no longer occupied.
"These are challenging times," he said. "The top end of the market is, I would say, saturated. For this area, we want to look at [what's] affordable, and we want to look at addressing the 'missing middle,' as I call it, people who are working but they can't afford a home, they can't afford $2,000-plus a month in rent."
He said creating housing in unlikely spaces can be cheaper than building new, and the savings can mean lower rents.
"Buying an existing building helped us because we already had the bones, we already had the structure," he said. "All we had to do was [demolish the inside] and then rebuild."
Wowchuk originally thought his target market would be seniors because St. Joseph's was nearby. He still plans to set aside five subsidized units for seniors, with an office in the building for their support workers.
But now that the units are for rent, it's mostly young people like Taylor showing interest.
"One of the mainstay demands is 20-year-olds looking for a place to live, and it's close to uptown," he said. "That's how it works, right? You pivot with the market. There will still be seniors here and maybe it's going to be half-and-half, but that younger demographic really wanted it."
In the north end, Ontario-based developer Deanna Adams recently received approval for a zoning change that would allow her to turn a former church into apartments.
The three-storey wood structure operated as a church for more than 100 years. It was a hub of community activity, a spirit Adams wanted to honour.
"Although that original purpose may no longer be true or valid in today's world, I'd like to find a way to bring them back to life and make them relevant again," Adams said.
"The satisfaction that you get from seeing a building that looked like it was in despair come back to life and see people living in it and being happy and proud about where they're living … is very rewarding and addictive."
Adams said the building will have up to 18 apartments — a mix of bachelor, one-bedroom and two-bedroom units — after renovations and a three-storey addition.
"When I walked into the church, I saw an amazing structure, a clear-span structure. There's no support structure within. … What it means is that it was well built from the beginning. There are no sags in the floors, no creeks, no squeaks. It's solid."
There are advantages to working with a wood structure over stone or brick, she said. It's easier to move windows, which you need to do when converting a building from a church to apartments. It's also easier to find local labourers with experience working on wood structures.
Whether it's a new build or a renovated older building, renters like Bobola Adanikan appreciate the sense of "newness" about the places.
Adanikin, who moved to Saint John from Nigeria two years ago to attend New Brunswick Community Collete, recently moved into Wowchuk's building and likes the renovations and the new appliances.
He also likes the tech features. Wowchuk is going to enable facial recognition technology to gain entry to the building, for those who want that feature. In partnership with NBCC and the Université de Moncton, Wowchuk is developing a robot that will carry garbage from people's apartments for disposal and deliver packages to a tenant's door.
"The security, the fresh paint, there's this feeling of peace in this building," Adanikin said.
Like Adams, Wowchuk was partly inspired by the idea of reanimating what was once a hub of activity. The old Saint John General Hospital had a commanding presence on a hill overlooking the Mount Pleasant and Rockwood Park areas.
"Frankly, I was not really pleased with what the landscape had turned into along the hill," he said. "There was no great building that replaced the old General."
The Hospital Hill Development, will eventually include two more buildings and a landscaped pedestrian walkway and green space to connect all three.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


CBS News
25 minutes ago
- CBS News
San Jose Earthquakes owner John Fisher puts team on the market
The owner of the San Jose Earthquakes announced Wednesday that he has begun the process of selling the Major League Soccer club. John Fisher, who also owns baseball's Athletics, acquired the Earthquakes with Lew Wolff in 2007 for a $20 million expansion fee, bringing the team back in 2008 after a two-year hiatus. "The San Jose Earthquakes and PayPal Park have been an important part of our lives for nearly two decades," Fisher said in a statement released by the team. "We are proud of the role the Quakes have played in the growth of soccer throughout Silicon Valley. The Bay Area is a special place, and we're deeply grateful to the fans, players and staff who've been with us on this journey." The Earthquakes have hired the New York-based investment firm Moelis & Co. to lead the sale. The Earthquakes, then known as the San Jose Clash, were a founding member of MLS in 1996. The team won MLS Cup titles in 2001 and 2003. The Quakes also own and operate PayPal Park, an 18,000-seat stadium which is also the home of the National Women's Soccer League team Bay FC. "On behalf of Major League Soccer, I want to thank the Fisher family for their longstanding commitment to the Earthquakes and the San Jose community," MLS Commissioner Don Garber said in a statement. "Under their leadership, the club invested in world-class facilities like PayPal Park, built a highly respected youth academy and helped grow the game in one of the nation's most dynamic markets." The Quakes are the second MLS franchise currently up for sale. The Vancouver Whitecaps are the other.
Yahoo
30 minutes ago
- Yahoo
Partners Group buys UK pet-food business MPM from 3i
Partners Group has agreed to buy UK pet-food business MPM Products from its UK private-equity peer 3i. Established 2002, Manchester-based MPM's portfolio includes cat-focused brands such as Applaws, Reveal and Encore. With offices in the UK, Australia, China and US, MPM sells its products in 49 markets globally, according to the company's official Linkedin account. In a statement, 3i said MPM's sales and EBITDA have more than 'doubled' since its investment in 2020, though specific figures were not disclosed. International sales now account for nearly 80% of MPM's revenues across the US, EMEA, and APAC regions, the private-equity firm said. 3i said the "total gross proceeds" to the buy-out house are estimated at approximately £400m ($538.2m). In a separate statement, Partners Group said the cat-food sector is "benefitting from several thematic tailwinds". People are delaying having babies, leading to increased pet ownership and the "premiumisation" of purchases. Thomas Clark, MD for private-equity goods and products at Partners Group, said: "We have been tracking the pet food market as part of our broader thematic research into the 'humanisation' of pets. We believe there is a significant growth opportunity in the premium cat food segment as this has historically been underserved by incumbent producers that are primarily 'dog focused'." The transaction is subject to customary regulatory approvals and is expected to be completed in the third quarter of the year. Julian Bambridge, MPM's CEO, said: "Feeding is one of the key moments when owners interact with their cats, which reinforces a desire to provide something special at these times. At MPM, our goal is to enrich the lives of pets and owners through visibly better food that uses the highest quality natural ingredients and provides core health benefits. We are excited to continue our strong growth under Partners Group's ownership." "Partners Group buys UK pet-food business MPM from 3i" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
30 minutes ago
- Yahoo
Here's Why Exelixis (EXEL) is a Strong Value Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike. Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term. Different than growth or momentum investors, value-focused investors are all about finding good stocks at good prices, and discovering which companies are trading under what their true value is before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, and Price/Cash Flow to help pick out the most attractive and discounted stocks. Alameda, CA-based Exelixis, Inc. is an oncology-focused biotechnology company that primarily focuses on the discovery, development and commercialization of new drugs for the treatment of difficult-to-treat cancers. The company is leveraging its investments, expertise and strategic partnerships to target an expanding range of tumor types and indications with its clinically differentiated pipeline of small molecules, antibody-drug conjugates (ADCs) and other biotherapeutics. EXEL is a Zacks Rank #2 (Buy) stock, with a Value Style Score of B and VGM Score of A. Shares are currently trading at a forward P/E of 15.9X for the current fiscal year compared to the Medical - Biomedical and Genetics industry's P/E 19.3X. Additionally, EXEL has a PEG Ratio of 0.8 and a Price/Cash Flow ratio of 21.5X. Value investors should also note EXEL's Price/Sales ratio of 4.9X. A company's earnings performance is important for value investors as well. For fiscal 2025, 10 analysts revised their earnings estimate higher in the last 60 days for EXEL, while the Zacks Consensus Estimate has increased $0.30 to $2.61 per share. EXEL also holds an average earnings surprise of 48.6%. Investors should take the time to consider EXEL for their portfolios due to its solid Zacks Ranks, notable earnings and valuation metrics, and impressive Value and VGM Style Scores. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Exelixis, Inc. (EXEL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio