Brunswick Square's future hinges on review by Fortis

The future ownership of Saint John's Brunswick Square is a bit unclear as Newfoundland and Labrador-based Fortis Properties undergoes a review of its holdings.

Fortis Inc., the parent company of Fortis Properties, is looking at a number of different options for the subsidiary, including selling some or all of its property assets.

Nora Duke, the president and chief executive officer of Fortis Properties, has been evaluating the company's future since September.

"Those options could be selling the entire company, we could be selling assets, or clusters of assets, she said.

Or we could be spinning the company off as a separate entity. So it's all of those options that are currently under review."

Fortis Properties also owns two other buildings in New Brunswick: Kings Place in Fredericton and the Blue Cross Centre in Moncton.

Duke said the company will know more about the future of Fortis Properties and the New Brunswick centres by the end of the year.

Duke said any decision on Brunswick Square's future as a shopping centre would be in the hands of the new owner.

"I think that a new owner would certainly like to consider it in that form, but one never knows. There can always be considerations of other opportunities, she said.

Brunswick Square is an important part of the uptown pedway system. It is a 19-floor complex that houses an office tower, a shopping centre and the 255-room Delta Brunswick Hotel.

Nancy Tissington, the executive director of Uptown Saint John, said if the property is sold the organization will work with the new owners.

"We would be able to like to support them in being proactive and keeping it as a shopping centre would be ideal. We certainly want it to be a walkable city, she said.