Despite the City of Fredericton taking control of the Exhibitions Grounds, Fredericton Exhibition Limited, the largest occupant, remains on the property and is working towards securing a deal to continue its operations. The organization, also known as N.B. Ex, is actively hosting events on the Exhibition Grounds, such as the annual September fair known as the Frex.
Rae Tretiak, the executive director of N.B. Ex, clarified that there were misconceptions about the organization’s status, emphasizing their presence and ongoing preparations for the upcoming 199th edition of the Frex, with plans in motion for the 200th anniversary next year. Negotiations between N.B. Ex and the city are ongoing to determine the future of the organization on the grounds, aiming to reach an agreement that allows them to remain.
Following the completion of the expropriation process in May, where the city obtained full control over the property, N.B. Ex received compensation of $4.1 million. Although Tretiak expressed dissatisfaction with the amount, he acknowledged the possibility of legal recourse if a dispute arose over the valuation.
The Exhibition Grounds, situated between Smythe Street and Saunders Street, are undergoing development in separate phases. A portion of the land, approximately 12 acres, was sold to the province for $7.7 million for the construction of a new school to replace George Street Middle School. The city is awaiting zoning decisions before proceeding with further development plans.
Mayor Steve Hicks highlighted the importance of the new school to the downtown area and expressed enthusiasm for its construction. Discussions are ongoing regarding the remaining nine acres occupied by N.B. Ex, with details of the negotiations being kept confidential.
Three businesses, including Tim Hortons, William’s Seafood, and Feeds’n Needs, will vacate the Exhibition Grounds upon the expiration of their leases as part of the city’s expropriation plan. The development of the area along Smythe Street is set to proceed, offering opportunities for mixed-use commercial and residential projects.
Additionally, plans include the removal of horse stables and the Winners Lounge situated near the racetrack, with tenants being given notice to relocate by the end of the year. The transformation of the Exhibition Grounds aligns with the city’s vision for enhancing the overall community infrastructure and landscape.