Plans to build a hotel and restaurant on the Centennial Building site, along with a mix of housing and retail, were approved in November. But the developer now says the pandemic has put a chill on financing for hotel projects. "We basically found out that there's no viable financing in the current COVID environment for hotel development." This proposed design for the Centennial Building, which included plans for a hotel, was approved in November. (City of Fredericton)However, he said, the hotel at the Centennial Building site would have come online by September 2023, and hotel industry associations are predicting that by early 2024, the industry will be back to pre-Covid occupancy levels.

Source: CBC News July 13, 2021 16:06 UTC