Most market coverage looks backward. This is the forward view: the commercial and catalytic projects actually moving through proposal, permitting, groundbreaking, and delivery across Moncton, Dieppe, and Riverview right now — each tagged by stage, so you can tell a signed agreement from a poured foundation.
Industrial & logistics
- Comztar — Caledonia Industrial Park (80 Frenette Ave., Moncton): under construction, broke ground mid-2026. A 67,000-sq-ft energy-efficient facility joining the Caledonia cluster near major distribution operations, with completion targeted for early 2027.
- Dieppe Industrial Park expansion (Montoni × Expansion Dieppe): proposed — an agreement was signed in late 2024, with no confirmed 2026 groundbreaking yet. Up to 2 million sq ft of sustainable industrial space, valued at $125M-plus and projected at roughly 500 jobs at build-out. A multi-year, multi-phase project and the single largest forward-supply story for the industrial market once phases begin delivering.
- Walmart Canada distribution expansion (135 Frenette Ave., Moncton): permitted in Q2 2026 — a $17.3M permit for additions and renovations to the existing facility in the Caledonia cluster, a reminder that expansion of existing logistics infrastructure, not just new builds, is part of this story.
Institutional & public — the quiet anchor
- Atlantic Science Enterprise Centre (ASEC), Moncton: under construction (phase two, science wing). A $600M federal laboratory and research facility under the Laboratories Canada strategy, for 700-plus federal scientists across five agencies. Science-wing occupancy is targeted for 2027–28 and full operation by 2032 — one of the largest federal capital investments in Atlantic Canada in decades, and a durable, multi-year driver of construction activity and eventual lab and office-support demand.
- Université de Moncton physical education centre: design stage, with a design contract awarded in early 2026. An early-stage institutional project whose scale and site will firm up as design advances.
Mixed-use, multifamily & major residential masterplans
- Gateway Towers, Riverfront Park (south of Assomption Blvd.): approved by Moncton council in early 2026. Two 17-storey towers, roughly $90M, 380 rental units, two levels of indoor parking, and ground-floor retail — signalling continued downtown and riverfront intensification and new street-level retail supply once delivered.
- Vision Lands master-planned community: proposed and advancing, with council planning steps in early 2026. Three precincts planned for up to 14,000 homes over the long term — a city-shaping project whose commercial nodes and servicing will be worth tracking as plans firm up.
- Station Yards (off Mountain Road near NBCC): master plan approved in early 2026. An 81-acre Shannex-owned site approved for up to 4,500 residential units (~9,000 people) over a projected 10–15 years, including a 20-acre seniors’ campus, parkland, and new road connections — one of the largest single land plans in the city’s north end, and one to watch for the retail and service nodes a neighbourhood this size will need.
- Franklin Yard (Millennium Blvd., beside Centennial Park): under construction (early phases). A 50-plus-acre former rail yard approved for 947 apartment units across nine six-storey buildings plus two commercial buildings, phased over roughly eight years. Two buildings are now underway, representing $34.6M of investment — a long-run, already-delivering source of rental supply off the Vaughan Harvey corridor.
- Origine Village, Dieppe (Keith Rd./Dieppe Blvd.): under construction, multi-phase. Quest Properties’ largest development to date, launched in 2024, running three apartment lines from townhouses to seven-storey buildings. The newest building, Balade (six storeys, 126 units), is pre-leasing now for an October 2026 opening — primarily residential, but a project of this scale in Dieppe is worth watching for nearby retail and service demand.
Where this lands against the current numbers
Q2 2026 data confirms both stories in motion. On industrial, the now-familiar definitional spread holds: national brokerage research puts Moncton-area vacancy anywhere from about 3% to 12% for the same quarter, depending on whether the figure measures availability or vacancy and which buildings are counted — the methodology gap our early-September piece unpacked. What the sources agree on: net rents keep climbing (roughly $9.45 to $11.22 per square foot depending on source and submarket), and new construction stayed modest at 61,000–67,000 sq ft — essentially the Comztar build above, plus the newly permitted Walmart expansion. That’s a market still working through the 2020–2025 supply wave, which is exactly why the Dieppe expansion and continued Moncton East delivery matter most over the next few quarters. On office, the range is tighter and more consistent — vacancy in the low-9% to low-11% band — all telling the same flight-to-quality story as our mid-September office piece. Notably, none of the current pipeline includes new speculative office space, part of why that tightening has room to continue.
What it signals
Four things stand out. First, public and institutional capital — led by the $600M ASEC build — is doing some of the heaviest lifting right now, a multi-year economic anchor independent of private-market cycles. Second, industrial expansion is still being planned at scale (the Dieppe park’s 2 million sq ft), even if it hasn’t broken ground — a reminder that today’s tight industrial market has real forward supply in the wings. Third, downtown and riverfront residential intensification (Gateway Towers, Vision Lands) is quietly adding new ground-floor retail and, eventually, new demand for nearby commercial services. Fourth, and easiest to miss: the sheer scale of residential land now in play — Vision Lands (up to 14,000 homes), Station Yards (up to 4,500), and Franklin Yard (947) alone total roughly 19,000-plus planned or approved units, before Origine Village is even counted — is itself a commercial story. Every one of those neighbourhoods will eventually need grocery, retail, and service space nearby, and the sites that capture that demand first will have a real head start.
What to watch next
The swing variables: whether the Dieppe industrial expansion confirms a construction start in the next few quarters (the biggest unresolved industrial-supply question); whether ASEC’s 2027 science-wing occupancy brings a visible bump in surrounding lab, office, and services demand; how much of Vision Lands’ and Station Yards’ commercial component firms up as those plans move from concept to zoning; and how quickly Franklin Yard and Origine Village lease their early phases, which will signal how fast the rest of each masterplan gets built.
What it means
- Occupiers: forward industrial supply exists but isn’t imminent — don’t wait for the Dieppe park to solve today’s tight market; near-term options remain in the existing pipeline (Caledonia, Moncton East). Retail and service operators should note where the next wave of rooftops is landing (Station Yards, Franklin Yard, Origine Village) well before those neighbourhoods build out.
- Owners: ground-floor retail is coming to the riverfront as Gateway Towers and similar projects deliver — a new competitive set if you own nearby retail or mixed-use. Owners near Mountain Road, Millennium Blvd., and Keith Rd. in Dieppe should watch these masterplans for both competitive supply and eventual customer-base growth.
- Investors: ASEC, Vision Lands, and Station Yards are multi-year, city-shaping projects — treat them as long-horizon catalysts for the surrounding submarkets rather than near-term comps. Franklin Yard and Origine Village are further along and already delivering, making them better comps for near-term multifamily underwriting.
Want a read on how a specific project affects your submarket or asset? ONE.’s advisors track this pipeline as it moves — reach out and we’ll walk you through what’s coming near you.
Figures are third-party published research, supplemented by our internal data, and not derived from MLS® System data.
