SmartCentres has submitted an application to the City of Richmond to build a open-format shopping centre on a 17-acre site in the West Cambie area of Richmond. The project, known as Central at Garden City, is located on Garden City Road between Alderbridge and Alexandra Road. The site is proposed to be developed with a 3-storey, 162,000 SF Wal-Mart, a 4-storey retail/parkade structure, and several 1-2 storey retail buildings centred around a High Street running through the site. There will be 20-70 CRU’s and a total leasable area of 372,000 SF.

SmartCentres had initially made a rezoning application in 2003, but was delayed due to a variety of issues including assembly of lots and the development of the West Cambie Area Plan by the City of Richmond.

Source: City of Richmond

Courtesy Globe & Mail.

WINNIPEG, Dec. 10, 2012 /CNW/ – Artis Real Estate Investment Trust (TSX: AX.UN) (“Artis” or the “REIT”) announced that it has recently acquired $44.9 million of industrial and retail properties in Western Canada and in Ontario’s Greater Toronto Area (the “GTA”), and has entered into unconditional agreements to acquire two additional Western Canadian properties for an aggregate of $47.3 million.

“2012 has been an active year for Artis, with approximately CAD$697 million and US$289 million of accretive acquisitions closed during the year, and several more deals tied up now, which we anticipate will close in 2013,” said Armin Martens, CEO of Artis REIT.  “However, contrary to recent news reports out of the U.S., we are not going firm on the acquisition of the IDS Center in downtown Minneapolis; the IDS Center is not a property Artis has under contract or Letter of Intent.”

See the full release HERE.