Analysis: $105M downtown centre in Moncton will serve as economic anchor

downtown moncton

A city-commissioned economic analysis claims a proposed $105-million downtown Moncton sports and entertainment complex will serve as an economic anchor, CBC News reports.

David Campbell, an economic development consultant, and Pierre-Marcel Desjardins, an economist at the University of Moncton, were hired by the city to study the possible impact of a new downtown events centre.

Campbell told councillors at a public meeting how a downtown entertainment and sports complex could serve as an “economic anchor.” He said he looked at Moncton’s downtown commercial space vacancies, as well as the declining population in the area.

“A downtown centre isn’t going to necessarily by itself be a big driver of residential growth but it can be a catalyst for residential growth,” he said. To make that growth happen, Campbell said the city would need a strategy for development around the downtown centre, including restaurants and stores to entice people to live downtown.

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