FORMER SOUTH END SALVATION ARMY SHELTER TO BE TRANSFORMED
–Redevelopment of Location Will Add To The Vibrancy of the Southern Peninsula–
April 19, 2018 – SAINT JOHN, NB—Develop Saint John announced today that the former Salvation Army Centre of Hope, vacant since 2014, is to be purchased by Saint John development company Mike Cavanagh Homes Inc. for an undisclosed amount.
According to Mike Cavanagh, president of Cavanagh Homes Inc. his plan is to convert the St. James Street property into a 25-unit apartment complex. To this end, Cavanagh is already working with local architectural firm Comeau MacKenzie Architecture, with whom he has worked on numerous projects in the past, to realize this goal.
Cavanagh, who recently withdrew his application to construct condominiums on Manners Sutton Road in Millidgeville, credits Councilors John MacKenzie and Gerry Lowe for connecting him with Develop Saint John. “From our first meeting, the Develop Saint John team identified and worked with us on a number of interesting development options. I am very pleased to be purchasing this property; it is a solid building, in a great location with harbour views. The property will need to be rezoned from the Major Community Facility Zone (CFM) to the Urban Centre Residential Zone (RC), and discussions regarding the process are already underway. With the other number of unique opportunities in Saint John right now, we also continue to evaluate other exciting opportunities.”
Jonathon Rasenberg with Coldwell Banker Select Realty is Mike Cavanagh’s real estate representative for the exchange and Bob McVicar of Sutton Group Aurora Realty Ltd. is representing the seller.
This follows the sale of two other recent high profile properties on King Street, including the former Woolworths store.
“Our community is experiencing a real revival with a number of recent property transactions in strategic locations, and increased investor interest in other properties,” stated Steve Carson, CEO of Develop Saint John. “We are very fortunate to have a number of quality developers, like Mike Cavanagh Homes, prepared to make significant investments to help grow our tax base and improve our City.” Carson also credits local real estate professionals who play a key role in getting deals done.
For further information:
Develop Saint John
About Cavanagh Homes
Mike Cavanagh Homes Inc. was first established in 1993, and specializes in the development of multi-unit residential properties. Over the past 25 years, they have developed over 200 units of residential housing within the Saint John area, and are passionate about the City of Saint John and its ability to return to its status as the economic engine of New Brunswick.
About Develop Saint John
Develop Saint John’s mission is to grow the tax base in Saint John by relentlessly creating and seizing strategic real estate opportunities and getting deals done. Its mandate is to instigate growth in Saint John which improves the quality of life of its citizens. It has a Board of Directors made up of entrepreneurial-minded business and community leaders from the private and public sector.
About 36 St. James Street
- Building completed and started operations as The Salvation Army Centre of Hope in 1982
- Approximately 39,650 square feet over the five-story building and warehouse
- Currently zoned Major Community Facility, which accommodates large-scale community service functions
- Vacant since closing of Centre of Hope in April 2014