Calgary’s Deerfoot Mall’s transformation into Deerfoot City took a big step in December with the opening of a new 103,000-square-foot Canadian Tire store.
Vancouver-based Shape Properties bought the aging retail property from Ivanhoé Cambridge in 2011.
The redevelopment will nearly double the leasable area to more than 1.1 million square feet and is indicative of a surprising retail surge in Calgary, which has seen consumer spending increase during 2016.
“While Deerfoot Mall was seen by most as a dated shopping mall, Shape recognized the site’s strong fundamentals,” said Shape executive vice-president of development and design Darren Kwiatkowski. “When we purchased Deerfoot Mall, we looked beyond the shopping centre and at the potential for a future mixed-use master plan.”