|Initial rendering of the 'Town Square' at Richmond BC's proposed McArthurGlen outlet. Image: Vancouver Airport Authority|
A representative at the Vancouver Airport Authority notes that it is unclear at this time what size the centre will be. Initially the proposal was for about 350,000 square feet, and we have been told that this new site could include up to a half-million square feet of retail as a new proposal is made to the Airport Authority for approval.
|Image from McArthurGlen website|
Soon after we spoke to our Holt Renfrew insider in Toronto who said, speculatively, that their new hr2 concept could be considered for the site but that this was only speculative as they would need to see site plan and tenant proposals to determine if McArthurGlen would be an appropriate location for hr2. Our Holt's insider says hr2 will expand into the Lower Mainland but that no definitive locations have been secured.
We spoke to our Toronto retail analyst a second time, and he tells us he expects the new centre will include some upscale architecture, so as to cater to an affluent (mostly) Asian and tourist clientele expected to visit the centre. He says we might expect retailers such as Hugo Boss and Armani and possibly even Prada and Bottega Veneta.
We will be provided plans of the McArthurGlen centre when finalized, and we'll post and analyse them for readers. Keep watching Retail Insider for McArthurGlen Vancouver updates.
McArthurGlen website: http://www.mcarthurglengroup.com