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

Given a lot of the Bay customers were a bit older, I don't see most becoming big on line shoppers. I suppose if you are retired, it is not too hard to drive or take the LRT to say Kingsway, if you have time.

IDK, maybe the Bay there is busier now, but I was never that impressed by that location. It really wasn't one of the better ones before. Maybe that has changed somewhat.
 
Simons exists which has generally eliminated any need or desire to visit The Bay. The Bay shopping experience isn't competitive, at least at any locations I've been to.
 
Sure, but The Bay was ideal for many of us living Downtown for appliances, sheets, towels, shoes, misc. kitchen items and even quick gifts for kids birthdays.

It is/was a significant loss for Downtown and eroded the value proposition of living centrally.
 
The Bay was breaking even pre-pandemic, even with Valley Line construction and significant shoplifting. They might still be here in some form if it wasn't for that.
 
I went to the Kingsway Bay a few days ago and it was actually quite nice for clothing and home goods.

Kingsway will always be the direct competitor for CCM and it might take another generation before enough people live downtown to make the economics work out for CCM. In an alternate universe, if Kingsway didn't exist, it would make CCM much more possible to attract and retain the top tier retailers (H&M, Lululemon, Bay).
 
I still look back at the H&M loss whereby it was going to do a two-storey store on the NWC of 101st/102ave, but when their corporate guy came to town, he asked why when Kingsway 'is Downtown'... which killed the opportunity.
 
Fortunately, City Centre is not still owned by the previous owner who did 60% of what it took to drive it into the ground. COVID did the rest.

Another example of a bad corporate citizen. Interestingly a company founded here that totally forgot its roots. There should be a corporate hall of shame for them.
 
Oxford tried, but I am not sure Edmonton responded very well in most regards and their business plan shifted to primary/A type markets as it grew and evolved. It wasn't just Edmonton that they divested, but multiple other 'smaller markets' and it's bene very clear from recent postings, that they are finding success in the Vancouver's, Toronto's, NYC's, London's and Singapore's of the world.
 
Yes, I realize they are more focused on larger markets now I don't think it was just Edmonton that fell off their radar.

I don't question their "success", I do question their values.
 
David A said:
Yes, I realize they are more focused on larger markets now I don't think it was just Edmonton that fell off their radar.

I don't question their "success", I do question their values.
Click to expand...
They value money (like all landlords) and went where they can find the most of it. Nothing wrong with that.
 
As was said, it is a question of values. Some people think there is such a thing as being a good corporate citizen and contributing to the community that contributed to their success.

Others don't give a hoot and only value what gets them a few extra bucks. I know which business I would prefer to deal with.
 
If anything, they should be credited with 'sticking it out' and 'working with what they have' in the way that they did.
 
Whatever. You can blame Edmontonians for not supporting CCM, but the fact is that their offering downtown has been subpar for ages. Why would someone drive downtown and pay for parking for a shopping experience that could easily be had at a second-tier suburban mall? The stores aren't unique, the infrastructure is tired and there seems to be very little to differentiate the experience from elsewhere.

I don't blame shoppers for choosing WEM or Kingsway because the experience is just better frankly. If CCM is going to become competitive, a large amount of money will need to be invested in refreshing the complex to make it more street facing and (hopefully) offer a more urban experience that cannot be replicated elsewhere.
 
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