An Asian-style mega-mall – where space will be sold, not leased – is expected to join the industrial and commercial horizon of Balzac, just north of Calgary.
Eli Swirsky, president of the Torgan Group which is developing the project with MPI Property Group, said the 280,000-square-foot shopping centre will house 500 retail stores, services and restaurants in a “new visionary retail concept” with underground parking.
“It’s going to be a totally different experience than any mainstream mall that exists,” Swirsky said.
New Horizon Mall will be located east of Highway 2, south of CrossIron Mills mall. Construction is expected to begin in 2014 and be completed by 2016.
The property was purchased about two years ago and Torgan has been in talks with Rocky View County (RVC) for a year.
RVC Communications Manager Grant Kaiser said the idea of using the land for a hotel, shopping mall or office building was approved in April 2009. He added that open houses and public hearings were done at that time.
Swirsky said the mall will capitalize on the roughly 200,000 vehicles that travel on the highway past the location per day.
Also, its location places it 20 minutes from downtown Calgary and eight minutes from Airdrie.
The mall intends to cater to Calgary’s growing Asian population, said Swirsky, and will showcase “unique products and businesses that only independent stores can offer.”
The retail space will feature glass-walled space of from 285 square feet to 855 square feet with prices starting at $169,800, or about $600 per square foot.
Swirsky added that “Asian demographics in Calgary are strong.” The mall will provide a niche-market that doesn’t exist in the area, he said.
