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    Vancouver developer buys Moncton properties

    CBC – Wed, 18 Jan, 2012

    A family of Vancouver billionaires has bought an acre of land from the Irvings in downtown Moncton, which is generating more questions about development plans in the city.

    Aquilini Investment Group is a major developer in Vancouver. The Aquilini family, which is estimated to be worth $5 billion, already owns the Crown Plaza hotel and now, they've just bought the whole city block around the downtown hotel.

    The block includes the old YWCA building, the former SMT bus terminal and the parking lots that link the buildings.

    The family also owns the Vancouver Canucks and the stadium the hockey team plays in, Rogers Arena.

    The sale is good news for the city, which is still trying to figure out how it will build a downtown arena and entertainment complex.

    Speculation has continued to mount in Moncton over what would replace the Highfield Square shopping centre after the facility’s managers announced last week that it would be closing.

    Many in the area believe the downtown property would be ideal for a new sports and entertainment centre that has been actively discussed in the city in recent years.

    However, the federal government has said it's not going to put any money into such a project.

    As for the Aquilini's, no one from the family, or its investment group was available for an interview.

    There are ongoing discussions surrounding the need for a new $100-million downtown facility that would replace the aging Moncton Coliseum.

    Moncton officials have said in the past that a new centre would help attract bigger entertainment acts during winter months.

    There have been discussions about building a 9,000-seat Olympic-sized hockey rink. The coliseum's seating capacity is 7,200.

    The Quebec Major Junior Hockey League's Moncton Wildcats, the existing facility's main tenant, have complained about getting access to the coliseum, especially during the league’s playoffs.

    There have also been complaints that the roof is too low at the coliseum, which limits the types of concerts that it can attract.

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    1 comment

    • flacky
      flacky  •  Port Coquitlam, British Columbia  •  4 months ago
      Don't wreck your dowtown Moncton, with planting a big hockey arena there , it only attracts the wrong n'er do well types, witness the hocky mess & riots by those low brow sports freaks last June in Vancouver BC at the STanley Cup playoffs. It willl wreck any ambience that Moncton may have had. Look at Oshawa Ont also, they planted a big hockey arena right downtown and that city is the pits in terms of appeal.
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