Tsawwassen First Nation, Ivanhoé Cambridge and Property Development Group start construction on British Columbia's newest destination retail developments
Tsawwassen Mills and Tsawwassen Commons, the first major developments on Tsawwassen First Nation treaty lands
TSAWWASSEN, BC, Jan. 24, 2014 /CNW Telbec/ - After almost two years of project planning and site preparation, today marks the official start of construction for two landmark projects: Ivanhoé Cambridge's Tsawwassen Mills and Property Development Group's Tsawwassen Commons. These destination retail developments are being constructed on Tsawwassen First Nation Lands.
"This development partnership is a major step towards achieving our community's vision under our Treaty," says Tsawwassen First Nations Chief Bryce Williams. "We are delighted to partner with world-class developers to realize the commercial/retail element of our land use plan. Combined with our complementary agricultural, residential, and industrial activities, this development is a significant move forward in creating a truly sustainable community for our Members."
"Tsawwassen First Nation is a model of how B.C.'s treaty process can work, not just for First Nations, but for neighbouring communities. These projects will make a major contribution to building the economy and providing jobs across the Lower Mainland," says Aboriginal Relations and Reconciliation Minister John Rustad.
"We are privileged to bring our global expertise and leadership in developing what will become a truly international shopping destination and to be part of the future of Tsawwassen First Nation," says Daniel Fournier, Chairman and CEO of Ivanhoé Cambridge. "Our shopping centres become integral social and economic partners in the communities in which we do business across Canada. We look forward to extending that level of quality of service and shopping experience at Tsawwassen Mills."
"Property Development Group brings a solid track record of partnering with First Nations to develop first-class retail developments and we are delighted to be working with Tsawwassen First Nation to make Tsawwassen Commons a reality," says Lawrence Rank, Chairman and Founding Partner of Property Development Group.
As the construction begins towards a spring 2016 opening, Ivanhoé Cambridge took the opportunity to announce that Bass Pro Shops is coming to Tsawwassen Mills. The outdoor retailer is unique to the British Columbia market and at 13,500 m2 (145,000 ft2), is the first of several major marquee retailers that will be featured at Tsawwassen Mills. Property Development Group introduced feature retailers Walmart, at 10,000 m2 (108,000 ft2), and RONA, at 4,100 m2 (44 000 ft2), for Tsawwassen Commons. These premier retailers will make these retail developments a shopping destination for Metro Vancouver and beyond.
Located at Highway 17 and 52nd Street, Ivanhoé Cambridge's Tsawwassen Mills will include approximately 111,500 m2 (1.2 million ft2) of retail, with 16 anchors, a unique mix of premium fashion brands, factory outlets, restaurants and first to market retailers, as well as a 1,100-seat food court. The development will be modelled on the successful CrossIron Mills and Vaughan Mills in the Greater Calgary and Greater Toronto areas.
Property Development Group's Tsawwassen Commons will provide 51,000 m2 (550,000 ft2) of outdoor retail space and will include a quality blend of national, regional and independent retailers, restaurants and financial services.
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About Ivanhoé Cambridge
Ivanhoé Cambridge is a world-class real estate company that leverages its high-level expertise in all aspects of real estate including investment, development, asset management, leasing and operations, to deliver an optimal return for its investors. Through its multiple subsidiaries, its assets in more than 20 countries were valued at over Cdn$35 billion as at December 31, 2012. Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec (lacaisse.com), one of Canada's leading institutional fund managers. For more information, visit ivanhoecambridge.com.
About Property Development Group
Property Development Group ("PDG") is Western Canada's pre-eminent shopping centre development company. Headquartered in Vancouver, British Columbia, PDG is currently developing in excess of 1.5 million square feet of premium retail and mixed-use projects. PDG has developed a strong working relationship with a number of First Nation communities in developing shopping centres on their lands, including the Cowichan Tribes, Squiala First Nation, Westbank First Nation, Tsawwassen First Nation, Tsawout First Nation and the Penticton Indian Band. For more information, visit pdginvestments.com.
SOURCE Ivanhoé Cambridge
Image with caption: "Tsawwassen Mills, Tsawwassen, British Columbia (CNW Group/Ivanhoé Cambridge)". Image available at: http://photos.newswire.ca/images/download/20140124_C4958_PHOTO_EN_35826.jpgFor further information:
Ivanhoé Cambridge - Sébastien Théberge
firstname.lastname@example.org / Global: +1.866-456-3342
Property Development Group - Alicia Richards
email@example.com / 604-691-7391
Tsawwassen First Nation - Tanya Corbet
tcorbet@TsawwassenFirstNation.com / 604-948-5205
Leasing Opportunities, Tsawwassen Mills: +1 866 778-1644