The owners of Capilano Mall in North Vancouver are planning for redevelopment and have launched a public engagement effort.
QuadReal Property Group is planning the future redevelopment of the shopping centre, which is over 50 years old and recently lost one of its main anchor tenants, Sears, in 2017.
Capilano Mall opened in 1967 in a low-lying area that was formerly home to wartime housing and known as “Skunk Hollow.” The first anchor tenants were Woolco and SuperValu, followed later by Sears. The mall is now anchored by a large Walmart Supercentre.
QuadReal has proposed five “guiding principles” for the upcoming redevelopment of Capilano Mall:
- A transit-oriented and connected community, capitalizing on a new RapidBus route on Marine Drive
- Sustainable community design, and ecological restoration and enhancement of nearby MacKay and Mosquito creeks
- A vibrant neighbourhood centre
- Employment, retail and community services
- A mix of housing options, with an eye to housing affordability on the North Shore
QuadReal says there will be no immediate changes to mall operations.
To participate in the public engagement process, complete an online survey on the future of Capilano Mall at capilanomall.com/thinkingcap by January 31, 2020.
A PDF of the public engagement document is available here.
QuadReal and Westbank redevelopment of Oakridge
QuadReal and Westbank are behind the redevelopment of Oakridge Centre in Vancouver, which will see the addition of over 2,500 new homes, a nine-acre park, an enhanced and expanded shopping centre, community centre and more.
Westbank has reportedly already sold $1 billion of units at Oakridge in less than one year, according to a recent report by Bloomberg News.
The Oakridge redevelopment is expected to cost $5 billion and is one of the largest real estate redevelopment projects in North America — comparable in size to the Hudson Yards project in New York City.
The Post redevelopment in downtown Vancouver
QuadReal is also behind the redevelopment of the former Canada Post building in downtown Vancouver, which will see two new office towers constructed atop the original building, with 1.13 million square feet of office space, most of which will be leased to Amazon.
In the former post office structure will be a food hall, Loblaws CityMarket grocery store, gym, pharmacy and more. It should be complete by mid-2023.
