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

There is no demand for half those things you mention, and half already exist. Assuming ICE and ECC are both destination, ECC is not anymore. ICE is still unproven numbers, but perhaps soon we're getting back to 'normal' and someone will be interested in that large restaurant space. Joey does well for example.

So the size of the City makes no difference. What makes a difference is office workers being back Downtown and continuing to add residential as well as unique experiences and destination activities. Our Downtown office population didn't change in 30 years pre-covid. But residential grew and students. Hence the large growth in hospitality the last 10 years.

A reminder that Edmonton's Downtown is technically 11.7 km2 with only 13, 000 residents. Vancouver's is 3.7 km2 with approx. 62,000 residents, as well as office, tourism, etc.
 
I haven't heard of any new enclosed malls proposed or under construction. Even in the digital shopping era, a city of 2-3 million might need 6-8 large malls. This could give city centre a real boost as demand outstrips supply and retailers are bumped down to different properties.
 
occidentalcapital said:
I haven't heard of any new enclosed malls proposed or under construction. Even in the digital shopping era, a city of 2-3 million might need 6-8 large malls. This could give city centre a real boost as demand outstrips supply and retailers are bumped down to different properties.
Click to expand...
Exactly. There is not much surplus space in the 3 largest malls here now, so new stores or those looking at expanding will have to start to look at other malls as the city continues to grow.

While the population downtown here is not huge, there already is an unmet demand by people living in the core who are forced to travel, often by auto instead of being able to walk to nearby stores and services, that continues to not be met or recognized, perhaps by those who do not actually live there. Also, as more people return to work or visit downtown there will also be more demand.

This is partly why around half a dozen new stores have actually opened in this mall over the last several months. It was COVID and the related restrictions and impacts that hurt this mall the most, not nearby ICE District with its current handful of actual retail places or the more distant Brewery District built really to serve new residents further away.
 
occidentalcapital said:
I haven't heard of any new enclosed malls proposed or under construction. Even in the digital shopping era, a city of 2-3 million might need 6-8 large malls. This could give city centre a real boost as demand outstrips supply and retailers are bumped down to different properties.
Click to expand...

That's because it's relatively rare for new malls to get built in North America. The only one built in the Edmonton area in the 21st century is the Outlet Mall. Calgary, Vancouver, and Winnipeg have all each also built 1 new mall this century (all outlet malls). The existing mall traffic is condensing onto a select few malls that have broader draw beyond the immediate vicinity. The places where, in the '70s or '80s, a new neighbourhood mall would've been built, we're seeing large power centres. Think Windermere, Tamarack, Emerald Hills, Manning TC, The Palisades, Skyview, Jensen Lakes, Granville, etc. If these areas were built up 40 years ago, they would've gotten their own Southgate or Londonderry or at least Northgate.

I do agree that as Edmonton gets bigger, there will be more demand for more retail options in a mall setting. I do hope this proves useful for City Centre but I worry it's still too close to Kingsway. I think it'll be beneficial for St Albert Centre, Londonderry, Mill Woods TC, and Sherwood Park Mall, though. There's a real lack of a mall in NW Edmonton and the fast-growing SW though.
 
Open now in the former Starbucks space on the main floor:

IMG_0784.jpeg


This would be their second location after their 99 St one.
 
I was DT last night again and decided to check out a movie.

The mall is pretty nice, and doesn't seem to require much for renovations. Obviously we can all agree that shop selection isn't great. If it gains momentum from nearby housing, a Uniqlo would be a good anchor tenant based on demographics of residents, and the new connection to southeast.

Another thing I noticed on the map is potentially interesting. Does anyone know if these are dummy columns on the roof? Residential would work in this location, and being attached directly to CC wouldn't hurt the building's retail prospects.

I think housing nearby is what fixes the problems facing the area.
Screenshot_20231231-172611.png
 
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Oxford operates multifamily residential internationally. Maybe something on this location could be built?

Are there any reasons why residential couldn't be built here? Any needed rezoning would be approved by this council.

Happy New Year!
 
I think the departure of the Bay really hurt this mall, but on the other hand I am not sure it would have been so great if it had stayed either.

It could have turned into a long slow decline that is just dragging things down like elsewhere.

financialpost.com

State of disrepair at Hudson Bay's flagship Vancouver store leaves shoppers aghast

Recently, the flagship store on Granville and West Georgia was eerily quiet. Most of the elevators and escalators were out of service
financialpost.com financialpost.com
 
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