The Municipal District of St. Stephen (MDSS) has released the incentive details for two major developments in the community.
A 66-unit apartment building is set to be construction at the site of theBorder Arena and a hotel is planned for 19 Budd Avenue by Sussex-based company Amsterdam Inn and Suites. The new agreements include, according to a release from the municipality, “defined timelines, financial controls, and enforcements provisions designed to protect municipal interests.”
The 80-room hotel was provided $500,000.
This includes a $300,000 land acquisition incentive, which is fully repayable if the project is not completed by October 1, 2027, or if the property is sold prior to completion,” the release said. “In addition, a $200,000 completion incentive will be paid over five years following completion, subject to the developer’s ongoing compliance with the development agreement.”
It said no municipal funds would be provided to the developers unless the project milestones are achieved.
In the case of the Dock Apartments, by Charlotte County-born developer Tressa Bevington, was provided $400,000, plus defined in-kind works. Bevington received a similar benefit from the Town of Saint Andrews to build Compass Housing—an affordable housing complex. She has completed three buildings in both Saint Andrews and St. Stephen.
“A $300,000 contribution will be released only after demolition of the former Border Arena is completed,” the release said, which is expected to be undertaken early in the new year. “The municipality will also provide up to $100,000 toward repaving the parking area, not earlier than 2027, and will complete water and sewer connection works to municipal mains.”
It said if the deadlines are not met, MDSS can terminate the agreement and repurchase the property for nominal consideration, which means a token amount, usually $1.
“In both cases, council evaluated the projects based on economic impact, housing needs, financial exposure, and enforceability,” the release said. “These agreements are structured to leverage private investment while maintaining accountability and minimizing risk to taxpayers.”
The border arena has sat unused since the Garcelon Civic Centre. The municipality was using it for cold storage before it was purchased. As for the hotel, a Best Western was slated to be built in the same location, but according to the Telegraph-Journal, court documents showed at least seven companies had filed claims against developers Spur Line Properties, a judge ordered in November 2024 the property go into receivership.
“The municipality remains focused on encouraging growth that expands housing supply, supports local employment, and strengthens the tax base-without assuming private-sector risk,” it said in the release.
