Brunswick Square revival back on the agenda under new owners
The new owners of Brunswick Square say they are ready to invest to revive its retail space.
Ravelin REIT — the former owner of Brunswick Square — was acquired by Halifax-based real estate firm Clarke Inc. two months ago.
Following the acquisition, Ravelin REIT Atlantic managing director Jeremy Kaupp said Clarke is ready to make “aggressive deals” to redevelop the space.
“We are willing to put a lot of money in terms of capital dollars to build out spaces; we are willing to provide very low rental rates to attract user groups who don’t necessarily need the capital injection,” he said.
In recent years, Brunswick Square has struggled to retain and attract tenants. Figures from early 2024 showed a vacancy rate of about 48 per cent in the shopping centre and 45 per cent in the office tower.
The building was also put up for sale in 2024 by Ravelin REIT, formerly known as Slate Office REIT, before the company underwent a strategic restructuring in 2025.
Following the firm’s restructuring, the company took the building off the market and brought in a leasing team from Cushman & Wakefield Atlantic to revitalize and reimagine the complex.
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Built in the late 1970s and early 1980s, Brunswick Square accounts for most of the city block bounded by Union Street, King Street, Chipman Hill and Germain Street.
The building includes a three-storey shopping centre, a 250-room Delta hotel, a 19-storey office tower and a nine-storey parking garage with about 730 spaces.
In a previous article last year, Cushman & Wakefield associate vice-president Stephanie Turner told Acadia Broadcasting that the firm’s priority was to fill vacant spaces in the office tower, as well as the pedway and lower levels on the retail side.
At the time, Turner said there were no plans to focus on the third level of the mall, noting that most foot traffic is concentrated on the pedway and lower levels.
She also noted the firm was considering other potential uses for vacant mall space beyond retail, such as entertainment.
New owners prioritizing retail area, but say uptown grocer not possible
However, Kaupp said Clarke’s priority is to fill the retail space, with plans to focus on office tower vacancies later.
“Right now, we have 150,000 square feet of retail space that we need to focus on to help transform the property but also help with the transformation of uptown [Saint John] as well,” he said.
While Kaupp said there are no concrete plans at this time, he noted that revitalizing Brunswick Square will require a “transformative industry in the market.” With that in mind, the company is exploring a range of non-retail uses for the vacant spaces, building on concepts considered during previous redevelopment efforts.
Kaupp said possibilities include marketing and educational facilities, innovation hubs such as laboratories, research and medical facilities, and community-focused spaces like libraries and community centres.
When asked whether Clarke was considering a grocery store as an anchor tenant, Kaupp said the company has discussed the idea with several retailers, including Sobeys and Loblaw. However, he said many were reluctant to invest in a Brunswick Square location, citing a lack of residential density in uptown Saint John to support a grocery store.
“Until there is a critical mass of residential density in uptown, I think the uptown grocer is going to sort of hinge on that,” he said.
Kaupp said that because Clarke only recently acquired Ravelin, the company is still assessing the property, developing ideas and engaging with all levels of government, local real estate brokers and other stakeholders to identify potential opportunities through a series of brainstorming sessions.
He added that Clarke is open to hearing suggestions, including from residents. Kaupp said people are welcome to contact Brunswick Square through Ravelin’s website to share their ideas.
“We are in the business of owning real estate, developing and redeveloping real estate; we are not in the occupier’s space,” he said. “We need those occupiers to come forward, and we’ll bend over backwards to make it happen.”
