Developed jointly by CADC, Public Works Canada and ACOA, the Peakes Wharf and Marina project is a key piece of Charlottetown’s tourism infrastructure. Located on the former Public Works Canada wharf, at the foot of Great George Street, this restoration project cost just over $1 million to complete. The old wharf was reduced in size to create an expanded marina facility for local and visiting boats and a breakwater was installed to offer protection for boats moored at the marina. With the new marina addition, the number of berths in the area doubled to about 150. Five of the existing buildings on the site were refurbished for private commercial ventures, and are offered by CADC for purchase or rent. A .27 km boardwalk link to the Harbourside complex was also made in order to make the property more useful to residents and visitors as a place for business and recreation. This project kicked off a period of extensive waterfront development that saw Peakes Wharf, Confederation Landing Park, the CN Brass Shop and the CN passenger station all redeveloped over a 6 year period.
The Peakes Quay restaurant was opened by Steve Lelacheur and Kevin MacLean in the summer of 1989 and is still a popular summer establishment to this day.