Thanks to a $60-million investment from the developers of CrossIron Mills mall in Balzac, the shopping centre will undergo a series of upgrades and expansion to allow for more retail space.
Ivanhoe Cambridge, the developer of CrossIron Mills, made the announcement on Aug. 13. The project will involve relocating the food court to allow the current space to be used by up to nine new retailers.
“With Greater Calgary’s tremendous population growth rate and high disposable income, we are capitalizing on the opportunity to expand CrossIron Mills to welcome more world-class premium outlet brands that are seeking a truly successful retail destination with a proven track record,” stated John Scott, senior vice president of development with Ivanhoe Cambridge, in the announcement.
CrossIron Mills General Manager James Moller explained the project will be completed in two phases. Beginning in January 2015, construction will begin on a new 40,000-square-foot food court, located adjacent to the SilverCity CrossIron Mills Cinemas.
It will include space for two additional food vendors – adding to the current 14, as well as 200 additional seats, allowing seating for 1,300 people. Phase 1 is expected to be completed in the spring of 2016.
Moller said work will then immediately begin on the existing food court. The 46,000-square-foot space will be closed off, demolished and rebuilt to house up to nine new fashion retailers in the high-traffic area of the mall. The companies have not yet been announced, but Moller said it’s expected to become public in the coming months.
He said there will be minimal impact to the daily operations at the mall during construction.
“I don’t think customers will hardly notice we’re under construction,” he said.
The new retail space is expected to open in the spring of 2017.
“We currently have a waiting list for retailers wanting in, but our building is 100 per cent leased in terms of fashion retailers. These new units will be added to accommodate that interest,” said Moller.
He said the expansion of the mall was also driven by the need to remain competitive amongst other shopping centres in the Calgary area.
“Retail competition in the Calgary area is fierce… We need to reinvent and always try to raise the bar,” said Moller, but he added CrossIron Mills mall has experienced “tremendous” success since opening its doors in August 2009.
“At the end of our first year, we had seven million customers come through our doors. At the end of last month, we’d already had nine million customers so far this year. So it’s increased significantly from four years ago,” he said.
CrossIron Mills mall is 1.12 million-square feet and houses more than 200 retailers. Moller said the development plan for the mall takes into consideration the potential for additional parking spaces in the future.
