Shaping Abbotsford's mega mall
Billed as the largest retail development in B.C. in the past 30 years, a new 600,000-square-foot regional shopping centre on Mt. Lehman Road was officially launched Thursday.
Shape Properties president John Horton was in Abbotsford for the groundbreaking for the High Street project, estimated to be worth close to $200 million.
“We believe in Abbotsford,” Horton told the crowd. “We believe it to be a vital and growing community. It’s a municipality ready to do business."
Other recent projects, including the new hospital, widening of the freeway and the new interchanges, made it an easy decision to choose Abbotsford, Horton indicated.
High Street will feature approximately 60 retail outlets, anchored by a Walmart superstore and London Drugs. Horton said agreements were already in place for about half of the available space.
Retail is a focal point for Vancouver-based Shape Properties. The group recently purchased the Brentwood and Lougheed malls and are nearing completion of a second project in Abbotsford. The Parallel Marketplace, located on North Parallel Road, is a 135,000-sq.ft project featuring Thrifty Foods and Bank of Montreal.
Shape has applied to the city to start working on phase two of the centre.
Horton said recent economic challenges are not a major concern to him.
“We build while planning for the long term,” he said, adding Canada and especially B.C. are still strong markets.
Abbotsford Mayor George Peary said the city was pleased to partner with Shape Properties.
“Mr. Horton heard a who and the who was Abbotsford,” said Peary.
The shopping centre is expected to create more than 1,000 jobs.
“I think this sends a huge message to the business community when someone is willing to spend tens of millions of dollars to develop in Abbotsford,” said Peary.
He feels that kind of development is “contagious,” an opinion shared by Jay Teichroeb, general manager of economic development and planning.
Teichroeb has confirmed that Northland Properties Corp., the parent company of Sandman Hotels, has purchased a large piece of land on the southeast corner of the Mt. Lehman interchange.
“That’s a spin-off. I have no doubt that this mall (High Street) was a contributing factor in the decision to buy the land,” said Teichroeb.
No plans have been announced on what Northland will do with the land.
Once the High Street mall is open for business, Teichroeb expects to see 4,000 to 5,000 vehicle trips daily.
“It will help us attract and recapture retail dollars that historically leaked out of this community,” he added.
As well, it is estimated the City of Abbotsford will collect over $6 million in development cost charges from the project.
It's a busy time for building in Abbotsford.
Other projects underway include:
– Site clearing is underway at the corner of Sumas Way and Delair Road for the construction of a Cactus Club Restaurant and HSBC building.
– A Goodlife Fitness club will open in the winter of 2011 at 32500 South Fraser Way. The new centre is being built inside the old Grand Theatre building in the Safeway/Staples Mall.
– While a site has yet to be purchased, Teichroeb said the federal government is planning to put a 50,000-sq.ft. office building in Abbotsford.
– Golden Valley Foods is expanding its facility. The 74,000-sq.ft. project is valued at $20 million.
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