By Craig Patterson
Ivanhoé Cambridge has announced that it is investing $60 million in its Laurier Quebec shopping centre in Quebec City. It’s the second phase of the mall’s modernization, following the 2015 expansion and renovation of the mall’s food court at a cost of $18 million. Since 2010, more than $400 million has been invested in the centre.
The newly announced investment will see a complete revitalization of Laurier Québec’s common areas — productivity is the goal, and the food court renovation saw sales in the space increase by more than 14%, according to Ivanhoé Cambridge. The mall is considered to be one of the most significant in Quebec, and is also one of the Province’s most productive, according to Retail Council of Canada’s Shopping Centre Study.
“Laurier Québec holds a dominant position in the region and we are very pleased to invest in its modernization,” said Claude Sirois, President, Retail, Ivanhoé Cambridge. “This initiative is part of Ivanhoé Cambridge’s strategy of investing in its shopping centres to maintain and strengthen their competitive positioning in their respective markets. This investment is all the more significant in one of Quebec City’s most competitive hubs: Laurier Boulevard.”
Part of the renovation will include enhancements to the centre’s parking garage, which will see brighter lighting as well as the installation of a parking management system similar to the one already in operation at neighbouring Place Ste-Foy (also owned by Ivanhoé Cambridge). Each parking space will be equipped with a digital sensor to inform drivers of available and occupied places.
Plans are in place to eventually connect Place Ste-Foy to Laurier Quebec via a pedestrian connection. Place Ste-Foy, which is anchored by La Maison Simons’ flagship, saw a significant renovation that also began in 2015 and included upgraded common areas, as well as repurposing of its former Les Ailes de la Mode retail space for new tenants.
Since 2010, more than $400 million has been invested in the two centres.
(Renderings above were all provided courtesy of Ivanhoé Cambridge)
Laurier Quebec spans more than a million square feet in size, and is one of the region’s busiest malls with more than 11 million annual visitors. The mall houses more than 260 retailers and is anchored by Hudson’s Bay, Walmart and several smaller anchors. The mall’s Sears store recently closed, and is expected to be part of a future ‘phase 3’ redevelopment — something we’ll no doubt be seeing in many Canadian malls as landlords seek to repurpose former Sears spaces.
Craig Patterson, now based in Toronto, is the founder and Editor-in-Chief Retail Insider. He’s also a retail and real estate consultant, retail tour guide and public speaker.