Park Royal announces growth plans for The Village at Park Royal

Improvements designed to attract a new tier of luxury US retailers, streamline traffic flow and prepare for a future residential development

WEST VANCOUVER, June 7, 2011 /CNW/ - Park Royal Shopping Centre Holdings Ltd. announced today that it will begin work to expand the very popular Village at Park Royal. Construction is scheduled to begin later this summer and is expected to be complete in 2012.

"Park Royal has been an extremely popular and important part of the North Shore community for more than 60 years," said Rick Amantea, Vice President of Park Royal. "As we look to the future, we know that we need to make changes to continue meeting our customers' evolving needs, which is why we're creating more public spaces, working to attract a new tier of retailers and, most importantly, modifying parking areas to make it easier for our customers to come and go."

The story begins with extending the popular Village at Park Royal Main Street along the front of Park Royal South to replace much of the unattractive surface parking. Intermingled with today's most sought after national and international luxury retailers will be local specialty stores and a beautifully landscaped street front complete with people-friendly gathering places, public art displays, cafes and restaurants.

"The future Park Royal may not stop at shopping, which is why we're replacing the unattractive surface parking we have now with a beautiful landscaped area where people can gather and enjoy time together," said Amantea.

Getting around Park Royal will become easier once construction is complete. Increased parking will be built along with new escalators and elevators to improve accessibility and ease traffic flow. A new intersection is also being constructed west of Taylor Way to provide at-grade, signal protected pedestrian crossings across Marine Drive.

Park Royal is also investing is upgraded landscaping along the Marine Drive median to improve the aesthetic experience at the entrance to West Vancouver.

Framing the redesigned Park Royal South could be the first residential development at Park Royal. Architects are currently working on possible concepts for two residential towers that will mirror the scale of the Westroyal complex located on the municipally owned property at 300 Taylor Way. According to Amantea, adding an eco-friendly and responsible development at Park Royal will have an added benefit to the local community. A portion of the profits from the residential sales will directly subsidize the construction of a new multi-screen movie theatre complex also planned for Park Royal South.

Park Royal is giving the public a chance to preview its retail renovation plans and provide input on the residential proposal at this early stage of planning. The Park Royal Connected presentation centre is located inside Park Royal South and will be open to the public daily from noon to 4 p.m., starting on June 11, 2011.

For a full overview of the planned improvements to Park Royal, visit www.ParkRoyalConnected.com.

Village at Park Royal retail renovation - key facts

Retail Space:           120,000 net square feet
Retail Stores:           15 to 20
Vehicle Parking:          250 additional stalls
Estimated Timeline:          2012 completion
Architect:           Musson Cattell Mackey Partnership

Landscape Architect:       Vaughan Landscape Planning & Design

About Park Royal
Park Royal and The Village at Park Royal features 1.2 million square feet of high quality retail. Situated at the foot of the landmark Lions Gate Bridge and minutes from downtown Vancouver, Park Royal is at the forefront of fashion and retail in the Lower Mainland. For information on Park Royal's stores, events and special deals go to www.shopparkroyal.com or download the free "Shop Park Royal" mobile app, available on iTunes.

SOURCE Park Royal

For further information:

Trevor Boudreau
Media relations specialist
604-564-8209
trevor@fusioncommunicationsgroup.com

Nancy Small
Director of Marketing & Sustainability
604-923-4714
nsmall@parkroyal.ca

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