CALGARY — Redevelopment plans for the northeast Deerfoot Mall include converting the current enclosed mall to an open-air regional power centre.
Shape Properties, owner of the mall at the southeast corner of Deerfoot Trail and 64th Avenue N.E., says on its website that an additional close to 500,000 square feet of space will be added, bringing total space to just over 1.2 million square feet following redevelopment.
The owner says Deerfoot Mall, on 32 hectares of land, serves a trade area of just over one million people within a 20-minute drive of northeast Calgary and the average household income within that 20-minute drive is $127,659, which is 42 per cent above the national average.
“Deerfoot Mall enjoys unrivalled exposure and access to the more than 128,000 cars/day that travel Alberta’s busiest highway (Deerfoot Trail/Highway 2),” says Shape.
In a news release on Friday, Shape said the redevelopment will encompass the majority of the property with the exception of the Walmart parcel. Construction will take place in several phases over the next five years in order to keep existing tenants, that will remain part of the redevelopment, open, as well as to coincide with the lease-up of the new premises. Construction on the first phase is set to begin this fall.
“Our vision for the redevelopment of Deerfoot Mall is to create a dynamic new urban centre,” said Darren Kwiatkowski, executive vice-president of Shape Properties. “Some of the ingredients will include high quality architecture, diverse mix of shops and restaurants, lush landscaping, pedestrian friendly streets, and a blend of outdoor and indoor environments strategically positioned to activate the public spaces.
“When complete, we expect the property will become one of the region’s ultimate shopping and dining experience, an urban social heart and the perfect setting for the seamless integration of new office premises.”