It's the company's first major investment in a residential rental building, marking a new asset class for the landlord which is intensifying its mall sites.
Across the country, landlords are adding residential and other uses to mall sites, signalling a shift in direction that will see them become new city centres.
Darryl Schmidt also noted that downtown properties continue to struggle given a lack of office workers, though sales levels in some cases are exceeding 2019 levels.
Craig and Jason discuss how Cadillac Fairview has come out with a purpose statement "Transforming Communities for a Vibrant Tomorrow” and what it means for the landlord with the top overall shopping centre portfolio in Canada.Â
The experience includes vendors, an Avril grocery market, an outdoor plaza, demo kitchen and an indoor entertainment area that will be used for different programs and activities year-round.
Other News: Lise Watier maximizes brand visibility, Hudson's Bay launches social impact platform, Jane's Walk goes virtual, Farm Boy continues expansion, London Drugs supports local, and Bed Bath & Beyond launches same-day delivery.
Other News: Swarovski opens 1st 'crystal studio', OVO Opens in Ottawa, Duer expanding to the US, Hudson’s Bay partners with INLAND, Balzac’s Coffee Roasters opens two new locations.