By Andrew Shaw, REALTOR® with REAL Broker · November 3, 2026
Transport Minister Steven MacKinnon and Premier Susan Holt announced the money in Saint John on October 21. Ottawa is putting in up to $254 million, the province $116.5 million and partners $92.5 million. CBC reports that about $72 million of the partners’ share is J.D. Irving and about $20 million is the port itself. The province is calling the funding historic, and for once I don’t think that’s an overstatement.
“Dredging is the biggest piece of the project here for us,” says Craig Bell Estabrooks, the port’s president and CEO, who also happens to be my lifelong friend. Our tides limit when a fully loaded ship can move through the harbour, and Transport Canada says the marine work will give those ships at least 30% more chances to move at high water.
Other money goes to warehouse upgrades and a new 30,000 square foot building where border services can examine containers. The shoreline gets stabilized at the Bayshore Rail Terminal, the port’s only rail access, and 103 km of New Brunswick Southern track gets upgraded so trains can run at up to 64 km/h. The $463 million also pays to rebuild Simms Corner and finally separate rail and road traffic there. Attempts to fix that intersection go back to at least 2007, and most of the cars waiting at it are younger than that.
The port handled 239,364 TEUs in 2025, up 29.4% from 2024 and about four times what it handled in 2017. A TEU is one standard 20-foot container. Transport Canada says the $463 million will let the port handle 850,000 to 1 million a year.
Source: Transport Canada to 2024 (the 2024 figure is preliminary) and Port Saint John for 2025.
The numbers
| Year | Thousands of TEUs |
|---|---|
| 2015 | 97.5 |
| 2016 | 90.3 |
| 2017 | 57.4 |
| 2018 | 59.1 |
| 2019 | 68.9 |
| 2020 | 79.1 |
| 2021 | 86.9 |
| 2022 | 150.2 |
| 2023 | 153.5 |
| 2024 | 184.9 |
| 2025 | 239.4 |
This is the first project funded from Ottawa’s new $5 billion Trade Diversification Corridors Fund. “Canada cannot take access to any single market for granted,” MacKinnon said. Saint John has a lot riding on that. In February 2025, the Canadian Chamber of Commerce ranked our city the most exposed of 41 cities to U.S. tariffs. The more countries our port reaches, the less we depend on one market.
The government money wasn’t locked in on announcement day. The contracts that commit it, called contribution agreements, weren’t signed, and Craig said there’s significant work to do before they are. Premier Holt said work could start in spring 2027 and finish by 2029 or 2030. The province promises good-paying jobs but hasn’t put a number on them.
People will ask me what this means for house prices. This month, nothing. Over the next several years, I think more steady jobs on the waterfront would mean more people able to buy here, but I’d expect that to show up slowly and across the whole region. Craig said in a Be Giant feature in May that the port’s growth is “about more people making a living again on the waterfront.”
West Side residents will likely feel the construction and the trains first. Deputy Mayor John MacKenzie has said “the trains are going to get a lot longer.” If you’re buying near the tracks, expect longer trains than the ones you hear at the showing.
Craig
Craig has been my friend since we were kids, and I’m so proud of him.
Even at 13 or 14, he could talk the talk and walk the walk. He spoke so maturely, and he got along with adults as well as he did with other teens. He’s always been impressive, diverse and versatile. All our mutual friends would’ve predicted his success, and so would I.
He’s universally knowledgeable and downright brilliant, and he’s humble about it. He’s a professional and a tireless worker who’s incredibly friendly and approachable.
Craig and I have played hundreds of rounds of golf together, and we love to watch the majors. If it wasn’t bad enough that he’s phenomenal at his job and in his career, he also makes a habit of shooting scores in the mid-seventies and whooping my butt. I’m a Wings fan and he’s a Leafs fan, so we love to bicker about that too.
He’s incredibly generous. Every time I show up at his place, my glass is always full and I’m always guided to the comfiest spot.
He’s so deserving of his success, and he’s taking our port back to being the driving growth catalyst for our city. He’s the best guy.
Pete
I’m just as proud of my brother, Pete Shaw. He’s the port’s Container Development Manager. Through diligence and hard work, he’s kept up and grown its relationships with other ports and shipping companies.
He’s been pushed out of his comfort zone, and he’s done tons of international travel to develop and cultivate those relationships. He’s the most likeable person I know, and I’m so proud he’s found a role that suits his skillset. I’m excited to see where this massive investment in the port takes him.
Since Pete started at the port, he and Craig have become great friends. I don’t see them at work, but when the three of us get together to watch golf or football, they’re chatting and laughing about work stuff. It’s cool to see. I’m inexplicably proud of both of them.
What else was announced in Saint John this past month
Canada Games Aquatic Centre. Ottawa and the province announced $18.6 million on October 14 toward a renovation of about $29 million. Work is due to start in December, and the pool is expected to close for 15 to 18 months.
Irving Oil Field House. Irving Oil gave $3 million on October 26 toward a multiplex beside the Field House, with two NHL-size ice surfaces and a new East Saint John library branch. Organizers hope to open it in 2029.
Roxbury Drive. The province and the City announced a $1.23 million forgivable loan and $310,000 in grants on October 26 for a 40-unit building in East Saint John, where rent supplements will keep 18 homes affordable for seniors. It’s due in spring 2027.
Sophia Recovery Centre. This women’s recovery centre broke ground on an 1,800 square foot addition on October 14, with $290,000 from the province and $101,150 from Ottawa.
26 Meadow Street. A proposal in front of the City would put 8 apartments in the existing building here. The public hearing is December 14.
100 Goldsworthy Road. A proposal in front of the City would create 10 rural residential lots here. The public hearing is November 16.
J.D. Irving’s East Saint John paper mill. J.D. Irving said in October it may close the mill unless N.B. Power brings back lower prices for surplus electricity. The company has asked the Energy and Utilities Board to review the April decision behind the change.
If you have a question about what any of this could mean for your street, send me a note or call me at (506) 650-1242.
