A massive transformation is reshaping the Saint John waterfront. A new $500 million mixed use development called Fundy Quay breathes new life into the downtown core. According to a recent report from The Globe and Mail, this project turns a six acre former Canadian Coast Guard site into a vibrant hub for housing, retail, and public spaces.

Image source: Supplied / Fundy Harbour Group via The Globe and Mail

What to Expect at Fundy Quay

Mayor Donna Reardon calls the site a pivotal anchor property. Local builder Fundy Harbour Group leads the project. They plan to build five residential buildings reaching up to 19 storeys. You will see between 700 and 800 new apartment units, 400 enclosed parking spots, and up to 25,000 square feet of retail space.

Construction on the first phase finishes this year. This six storey building features 79 rental units and 15,000 square feet of retail space. Chris Elias, vice president of development for Fundy Harbour Group, notes a single tenant already claimed three quarters of the retail space. He points out a long list of applicants want the rest. Elias says pent up demand for premium waterfront rentals drives strong interest in these apartments.

New Public Spaces and Attractions

Image source: Supplied / Fundy Harbour Group via The Globe and Mail

The development connects directly to the natural beauty of the Saint John Harbour. A wooden boardwalk encircles the site. It links to an amphitheatre, restaurant patios, splash pads, beaches, and the Harbour Passage trail system.

Federal, provincial, and municipal governments invested $27 million to repair the seawall and raise the land elevation. This funding also built a community skating rink and an expanded concert stage at the adjacent Ihtoli maqahamok public plaza. In 2025, Ottawa added a $30 million investment for the first building residential units.

Image source: Supplied / Fundy Harbour Group via The Globe and Mail

Economic Boost for the Downtown Core

Bringing more people to live downtown creates new opportunities for local businesses. Jonathan Calabrese, a Saint John based partner at Deloitte, says the private sector funding shows ultimate confidence in the project. Private capital covers the vast majority of the $500 million budget.

The city faces some economic hurdles, including high office vacancy rates and slowing population growth. However, a recent $247 million modernization of Port Saint John quadrupled cargo volume and balanced out other economic pressures. Mike Joyce, a broker at CBRE, says Fundy Quay adds modern infrastructure to enhance walkability and bring in new customers. This influx of residents adds demand for commercial services and boosts valuations for real estate in downtown Saint John.

Frequently Asked Questions

What is Fundy Quay?

Fundy Quay is a $500 million mixed use redevelopment project on the Saint John waterfront, located on a former Canadian Coast Guard site.

How many apartments will the project include?

The completed project features five buildings with a total of 700 to 800 rental apartment units.

When does the first building open?

The first phase, a six storey building with 79 rental units, finishes construction this year.

What public amenities are part of the development?

The area includes a 2.5 kilometre boardwalk, an amphitheatre, splash pads, a community skating rink, and an expanded concert stage at the Ihtoli maqahamok public plaza.