Lethbridge's Oldest Mall Completes Largest Redevelopment in Its History

LETHBRIDGE, ALBERTA--(Marketwired - Sept. 28, 2016) - Anthem Properties has completed its $26-million comprehensive redevelopment of Centre Village Mall, the largest capital investment in the mall's 46-year history. Anchor tenant London Drugs will open on Friday, with Save-On-Foods to follow in the coming days.

"Once again, Centre Village Mall is a shopping destination for Lethbridge residents," said Eric Carlson, CEO of Anthem Properties. "Our investment in the mall has helped to attract and retain major Canadian retailers, along with the many independent long-time tenants, all of whom serve the daily needs of residents. We are pleased to be a part of this community, helping to enrich the experience for consumers and tenants."

Redevelopment of the full-service mall began one year ago. In addition to substantial exterior upgrades, large new spaces were built for London Drugs, Save-On-Foods and Dollar Tree. Other tenants include Canadian Tire, Royal Bank of Canada and A&W. There are more than 25 stores, many of which are independently owned and operated.

"We believe all retailers in the mall and surrounding neighbourhood will benefit from the increased foot traffic in the area," said Carlson. "Anthem Properties' mandate is to create real estate that works and that's what we are doing with Centre Village Mall."

Anthem Properties purchased the mall in 2006. The company's other Alberta retail assets are in Edmonton, Calgary, Hinton and Lacombe.

Anthem Properties: Established 25 years ago in Vancouver, Anthem Properties is a real estate development, investment and management company that operates in Alberta, British Columbia and California. With a dedicated team of approximately 200 people, Anthem has been involved in more than 150 projects, amounting to a cumulative value of $3.5 billion. The company's current portfolio is comprised of four million square feet of commercial space and more than 7,000 homes in various stages of design and development. Through its sister company, United Communities, Anthem is involved in the development of approximately 5,000 acres of land in Alberta and Northern California.