Fredericton City Council passed two resolutions Monday night directing City staff to secure the exhibition grounds property for housing, a new school to replace the century-old George Street Middle School, and to serve related community needs.
“While Council values and respects the agricultural traditions in our community, we are making a responsible decision to secure the leasehold interest on this site from NBEX for houses and apartments, a modern, accessible school for our youth and related community assets,” said Mayor Kate Rogers. “With this decision, City Council is putting the needs of our community first as we follow a fair process that considers the interests of our leaseholders.”
The City of Fredericton is the registered owner of the 30-acre property, including the exhibition grounds and the racetrack, located along Smythe and Saunders Streets.
The City leases the site to Fredericton Exhibition Limited (FEL), known under its operating name NBEX, under a renewable agreement that expires in 2031.
On Monday, September 22, City Council passed a resolution directing City staff to file a notice of intent to expropriate the leasehold interest on the entire site under provincial legislation.
City Council also passed a second resolution directing staff to continue good faith negotiations with NBEX for the leasehold interest for the entire site.
The City will set aside 11.9 acres for the Government of New Brunswick to construct a new middle school, with the rest reserved for housing and related community needs.
NBEX will be compensated for the appraised fair market value of the lease. Existing tenants of the site will be able to remain for the duration of their current lease agreements.
The site was originally identified for development in 1990. The City and the NBEX agreed to jointly develop the site in 2019, with a Site Development Plan formally approved by both parties in 2021 following extensive public engagement and best-practice research. The plan included housing and a new school and was adopted in 2022 by the City as the New Brunswick Exhibition Grounds Secondary Plan. Both parties have been working to deliver the plan through a Joint Decision-Making Authority committee, with no meaningful progress to date.