Edmonton City Centre Mall (Renovations) | ?m | 2s | LaSalle Investment Management

[Kosy123]

Would I love to see an IKEA city in City Centre? Yes. Will it ever happen? Probably not.

Cool to see the stats on the mall though. Retail occupancy is abysmal but actually not as bad as I was expecting.

 

[northlands]

Kind of just reads like a summary of all the suggestions already made in this thread for years. Consolidate retail into ECC east, bring in medical and/or education usages for ECC west, attract new big box for the Bay space, great, awesome, cool...only thing missed was a residential conversion proposition for 102A Tower.

Hope we see something but without subdividing and selling off parcels, it's likely too big of a project for local entities and too risky for any institutional groups.

 

[David A]

Kind of just reads like a summary of all the suggestions already made in this thread for years. Consolidate retail into ECC east, bring in medical and/or education usages for ECC west, attract new big box for the Bay space, great, awesome, cool...only thing missed was a residential conversion proposition for 102A Tower.

Hope we see something but without subdividing and selling off parcels, it's likely too big of a project for local entities and too risky for any institutional groups.

I actually feel that someone who understands our community, its unique challenges and wants to improve it would probably be a better buyer for this than some far away institutional investor who would also probably be too risk adverse.

Of course the purchaser would have to have some money to put into redeveloping this, but hey ICE District was developed by a local person and this would probably require much less investment than that.

I don't see medical or education working here for various reasons (in part because we already have several other educational institutions expanding elsewhere nearby), but big box, residential or other commercial on the west side in particular could.

 

[_urbanite]

In the past couple of years, institutional investors have offloaded assets in our CBD and local investors have been scooping them up (Union Bank Inn, Empire Building for example). I wouldn't be surprised if that's what happens here (or at least in a partnership with an out of town buyer).