The Cadillac Fairview Corporation Limited

The Cadillac Fairview Corporation Limited
Chinook Centre

September 28, 2010 09:18 ET

$277 Million Expansion to Chinook Centre Opens to the Public

CALGARY, ALBERTA--(Marketwire - Sept. 28, 2010) - The Cadillac Fairview Corporation Limited is excited to announce the much anticipated opening of a $277 million expansion to its landmark Calgary retail property, solidifying its position as Calgary's premier urban shopping destination.

Construction of the 185,000 square foot expansion commenced in February 2008 which includes a heated, 1,200 stall parking garage. The redevelopment expands Chinook Centre by fifteen percent and 71 new retailers that will be opening for business over the next six months, many of an international stature and 34 retailers that are firsts in the Calgary market. 

"The Chinook Centre expansion is now 94% leased making it the largest shopping centre in Calgary boasting more than 250 retail stores and services", says Peter Sharpe, President and Chief Executive Officer of Cadillac Fairview, who spoke to special guests in the Grand Court at the launch event Tuesday evening. Sharpe adds, "Chinook Centre is one of the most productive shopping centres in the entire country, delivering among the highest sales per square foot in the industry. Led by an experienced management team and offering a dynamic retail mix, it continues to grow in popularity as one of Canada's most vibrant retail and entertainment destinations, offering our guests a very unique experience." 

The new tenant roster includes Abercrombie and Fitch, Apple, Hollister, Urban Outfitters, Anthropologie, Forever 21, Michael Kors, Harry Rosen, Stuart Weitzman, Swarovski, and many more exciting retailers that will be making announcements shortly. 

Other features of the redevelopment design include a much needed underground parking garage with a state-of-the-art parking control system that indicates occupied and available parking spaces with a red/green lighting system. This parking system allows patrons to enter from MacLeod Trail and quickly find a parking spot on either of the two levels.

Two elegantly appointed glass elevators and two escalators will guide customers from the parking garage into a grand two-level courtyard in the middle of the new expansion area. The courtyard features two of the largest and most dramatic crystal chandeliers in Western Canada, soaring wood-paneled ceilings hand-selected by the design team for a durable, timeless feel. Lighting in the court is provided by hundreds of LED lights, notable for the high quality of light they produce and that they are the most energy efficient fixtures on the market.

Consistent with Cadillac Fairview's commitment to environmental sustainability and national GREEN AT WORK™ program, the Chinook redevelopment is also one of the largest retail properties of its kind in North America to earn LEED Certification (Leadership in Energy and Environmental Design) from the Canadian Green Building Council. This is an acknowledgement of the company's dedication to sustainable, responsible development and smart urban planning reflected in the construction, materials and water-efficient landscaping.

The Chinook expansion also includes major investments in public infrastructure to move pedestrians quickly and easily from the adjacent Chinook LRT Station, a dense form of construction which reduces sprawl, reduces urban heat-island effects and reduces light pollution, water efficient plumbing, appliances, energy efficient ventilation and lighting equipment, recycled content in the products used to build the structure and other innovative features which are quite unique.

Property improvements have also been carried throughout the existing mall with new floor and ceiling materials and new glass handrails in both the Zellers and Sears courts.

About Chinook Centre

Stretching two full city blocks North from Glenmore Trail to 58th Ave and one city block west from MacLeod Trail, Chinook Centre one of Calgary's most re recognizable landmarks and has been the city's best-known retail shopping destination for 50 years. With nearly 1.4 million square feet of top quality retail shops, services and entertainment venues with a central, urban location serviced by the Calgary LRT, Chinook is truly a city within a city. Chinook Centre is owned and managed by The Cadillac Fairview Corporation Limited, one of North America's largest investors, owners and managers of commercial real estate. For more information about the Chinook Centre, visit chinookcentre.com.

About Cadillac Fairview

The Cadillac Fairview Corporation Limited is one of North America's largest investors, owners and managers of commercial real estate. For more than 50 years Cadillac Fairview has been leading the way in commercial real estate with innovative design, development and management.

Cadillac Fairview focuses on developing and managing high quality office properties and regional shopping centres in Canada and the United States, as well as international investments in real estate companies and investment funds. With a portfolio valued at more than $17 billion and nearly 50 million square feet of leasable space, Cadillac Fairview and its affiliates own and manage 86 properties across North America, including some of Canada's landmark developments, such as Toronto-Dominion Centre, Toronto Eaton Centre, Pacific Centre and Chinook Centre.

Cadillac Fairview is wholly-owned by the Ontario Teachers' Pension Plan, which invests to secure the retirement income of 289,000 active and retired teachers in Ontario.

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