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

[David A]

Quality mall retail space is essentially full throughout the city in the big 3 malls.

Any money wasted on demolition could be spent on development of 1-3 residential towers on ECC property.

We've gone over how the old Bay space has dummy piles on the roof. The northwest corner parking lot by itself could support two substantial towers.

Demolishing the mall would just be lighting money on fire, as any newly available land would probably be equal to the cost of demolition.

I feel it is sort of an Edmonton thing, the passion for tearing things down just to likely leave more vacant lots downtown for years and years. It kind of explains how we got where we are.

 

[Gronk!]

Primaris REIT Acquires Southgate and Oshawa Centres for $585M

Primaris REIT expands its portfolio with $585M acquisitions of Southgate Centre in Edmonton and Oshawa Centre in Ontario, boosting growth potential.

retail-insider.com

Any chance of Primaris purchasing ECC?
I've lost confidence in LaSalle.

 

[David A]

I feel LaSalle has stabilized a difficult situation, but it would nice to see more noticeable improvement here. I hope that starts to happen soon.

 

[Barnaby]

Primaris REIT Acquires Southgate and Oshawa Centres for $585M

Primaris REIT expands its portfolio with $585M acquisitions of Southgate Centre in Edmonton and Oshawa Centre in Ontario, boosting growth potential.

retail-insider.com

Any chance of Primaris purchasing ECC?
I've lost confidence in LaSalle.

I don't think they'd develop any residential on the property.

 

[David A]

I don't think they'd develop any residential on the property.

It seems like their focus is malls. Given our busier malls do not have much empty space anymore, I feel some of the overflow will soon start to go towards malls with more space available like City Centre.