Canadian Shopping Centres to See Unprecedented Redevelopment and Site Intensification: Retail Council of Canada Study

Canada’s shopping centres will see dramatic changes in 2020 and beyond.

That’s one of the key findings of the recently released 2019 Canadian Shopping Centre Study by Retail Council of Canada. The study was sponsored by Engagement Agents.

With 87 per cent of Canadian adults saying they would consider residing in ‘live, work, shop, play’ environments, it’s clear that shopping centre owners are listening carefully to the desires of today’s consumer, which include easier access, greater simplicity, enhanced convenience, and fabulous shopping experiences, states the national Study of Canada’s top 30 most productive malls. In addition, landlords are not only investing in superb shopping spaces, they are also adding more non-retail amenities such as destination entertainment attractions, food markets and restaurants, fitness centres, parks, offices, and residential towers that are increasingly transforming their shopping centres into all-encompassing community hubs.

RENDERING: MILLWOODS TOWN CENTRE

The Study also shows that the move toward creating mixed-use communities is happening in most urban centres across the country, particularly in markets where land prices have risen over recent years, promising to fundamentally change the way landlords look at and develop their properties.

“Until recently, shopping centre developers ran with the idea of making money off of leasing retail space,” says Retail Insider’s Craig Patterson. “What I think is really fascinating is the fact that we’re witnessing the invention of the modern shopping centre as complete communities.”

RENDERING: COQUITLAM CENTRE

He lauds the idea of adding residential rental spaces to the shopping centre, explaining that it creates a consistent income stream for the landlord while adding people on site. And, because shopping centres are well-located in terms of transit and close proximity to desired amenities, they are becoming increasingly attractive places for people to live. 

Sustaining the Trend

Not only does the 2019 Canadian Shopping Centre Study provide a comprehensive overview of the top 30 malls across Canada, it also offers a sneak peek at more than 40 future developments and intensification projects that have been planned from coast-to-coast, many of which focus on providing visitors with ‘experiences’ as value in real estate assets continue to grow.

Cadillac Fairview and TD Greystone announce Bold Vision for CF Fairview Mall (CNW Group/Cadillac Fairview)

“By carefully curating compelling and productive retailer mixes, upping square footage devoted to food and beverage options, introducing innovative, one-of-a kind, destination-worthy entertainment attractions, and building more residential and office complex options on their properties, shopping centre owners in Canada are setting the groundwork for a renaissance,” said the national Study.

To download a full version of the 2019 Canadian Shopping Centre Study, sponsored by Engagement Agents, please visit: retailcouncil.org/cdnretailer

*Update: Check out Retail Insider’s article on the incredible redevelopment of Square One in Mississauga, which will become the largest mixed-use project in Canada’s history, published at 12:30pm ET on January 21st. (Rendering below)

RENDERING: ARIEL VIEW OF ‘THE STRAND’ AT SQUARE ONE, LOOKING WEST WITH TRANSIT MOBILITY HUB CONNECTED TO HURONTARIO LRT IN FOREGROUND

Article Author

Mario Toneguzzi
Mario Toneguzzi
Mario Toneguzzi, based in Calgary, has more than 40 years experience as a daily newspaper writer, columnist, and editor. He worked for 35 years at the Calgary Herald covering sports, crime, politics, health, faith, city and breaking news, and business. He now works on his own as a freelance writer and consultant in communications and media relations/training.

More From The Author

Street sign with directions to either NEW BEGINNING or INSOLVENCY

Retailers Led Bankruptcy Filings in Canada Over the Past 12 Months:...

The publication tracks filings and one editor says that they expect an increase in filings in early 2021 following rent payment demands from landlords.
Reitmans' New CF Carrefour Laval boutique. Photo: Reitmans

Leger Ranks Canada’s Top Retailers Including Physical and Online Experience: Study

The Leger study showcases the importance of experience to retailer success.

RECENT RETAIL INSIDER VIDEOS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

RECENT ARTICLES

Retailers Led Bankruptcy Filings in Canada Over the Past 12 Months: Insolvency Insider

The publication tracks filings and one editor says that they expect an increase in filings in early 2021 following rent payment demands from landlords.

McGill University Bensadoun Retail School & Couche-Tard Launch Unique Retail Innovation Laboratory

The future of retail innovation and customer experience is being tested in Canada amid significant changes to the industry.

How Canadian Company ‘Gregory Signs’ Has Seen Success and Growth Over 40 Years

Toronto-based signage company offers expert, end-to-end signage services to meet the branding needs of the business community.

SUBSCRIBE to Retail Insider's Daily E-News for Free:

* indicates required

MOST-READ ARTICLES

International Retailers Continue to Enter Canadian Market Despite Pandemic [List/Analysis]

Retail Insider analysis of the international retailers that have entered Canada over the past 12 months as the industry looks to an uncertain future.

Canadian Footwear Brand Maguire Opens First Toronto Store

The Montreal company anticipates lower rents and as a result, plans to selectively open more locations while also significantly growing e-commerce.

M&M Food Market Continues Cross-Canada Store Expansion With New Partnerships

About 800 ‘express’ locations opened over the past year and several full-sized stores will be unveiled next year.
- Advertisement -
- Advertisement -