Centre Village Mall in Lethbridge, Alberta, is planning the largest redevelopment in its 45 year history with a capital investment totaling more than $26 million.
Work will commence over the next 12 months to add major exterior upgrades, while accommodating new tenants and relocating others.
“We want the mall to be a prime shopping destination for residents,” said Bill Kennedy, executive vice-president of investments at Anthem Properties. “The upgrades have been in the planning stage for a long while, and thanks to the City of Lethbridge and our existing and new tenants, they are now coming to fruition.”
Save-On-Foods will move from its current location in the mall to a new 43,000 square foot space at the west end, where the now-demolished Zellers stood. Next door will be London Drugs, a new anchor tenant that will occupy 40,000 square feet. Also, a 9,000 square foot pad is being built for Dollar Tree, which is relocating from the mall.
“Other tenants, including Canadian Tire, Royal Bank of Canada, and A&W, have also demonstrated their commitment to Centre Village Mall by entering into long-term leases with upgrades or newly-built premises,” added Kennedy.
Centre Village Mall is a full-service mall with more than 25 stores, many of which are independently owned and operated. The redevelopment project will be completed in early fall of 2016.