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Development, Retail

SmartCentres Planning 372,000 SF Retail Centre in Richmond

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.central garden city 2

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.central garden city 1

Source: City of Richmond

December 18, 2012by david.taylor@colliers.com
Development

Oh Snap! – Shelley Fralic of the Vancouver Sun Responds to Bob Rennie’s Calls for a Brand Makeover of New Westminster

“It’s difficult not to have respect for Bob Rennie’s accomplishments, what with his notches-on-the-bedpost reputation as Vancouver’s king of condominium marketing and his international renown as an avid arts patron.

But Rennie has some ’splaining to do after a recent visit to New Westminster, where he regaled us small-town bumpkins with some city-slicker advice about how to sell our little burg to those who have yet to discover our charms.

Speaking at a New Westminster economic forum, Rennie suggested that our quaint settlement on the Fraser needs to develop its own “brand,” and one way to do that is to ditch our antiquated Royal City moniker.

According to a story in the New Westminster News Leader, Rennie thinks that retiring our historical link to the British monarchy will immediately make us a more palatable place to live for all those 30-somethings heading eastward and seeking shelter for their mountain bikes and smartphones. If only we embraced our hipster side, he posited, they’d be streaming toward our tax rolls on their Vespas faster than you can say “the Olympic Village was a real estate bust.”

Gee, Bob, thanks for the tip, but here’s a news flash.”
Read more: http://www.vancouversun.com/business/Shelley+Fralic+Keep+your+mitts+Royal+City/7706823/story.html#ixzz2FNk2yrGm

December 17, 2012by david.taylor@colliers.com
Investment

REITS Year in Review – BMO Capital Markets on REIT.com

Paul Adornato, REIT Analyst, BMO Capital Markets, shares his thoughts on how 2012 REITs performed and what we will see in 2013.  Specifically, Paul sees growth in Industrial focused REITs citing a lack of significant development in this sector.

To view the video click HERE.

December 17, 2012by david.taylor@colliers.com
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