BROSSARD, QC, Sept. 16 /CNW Telbec/ - Ivanhoe Cambridge is proud to announce that Mail Champlain, a property it co-owns and manages, will be undergoing a major redevelopment in order to reposition the centre in its market. The $40-million investment aims to renovate Mail Champlain and revitalize its retail mix. Construction work will begin in Fall 2009 and wrap up at the end of 2010.
"Champlain is solidly established in its market and enjoys an enviable notoriety and strategic location. We will be capitalizing on these strengths to further differentiate Champlain's offering," said Jean Laramée, Senior Vice President, Eastern Region, Ivanhoe Cambridge. "This investment, which will breathe new life into Mail Champlain's shopping experience, is in keeping with Ivanhoe Cambridge's strategy designed to continuously improve our properties to maintain their competitive edge."
An enhanced shopping experience
The aim of the redevelopment project is to create a warm, elegant and light-filled ambience at Mail Champlain by completely revamping the centre's common areas. One of the main focuses will be the food court, which will be expanded and given a cosier look and feel, complete with fireplaces and wood and leather furniture. New bistro-style seating areas are also planned, as well as an outdoor patio adjacent to the food court where patrons can dine al fresco during the warmer months.
The central courts and corridors will be renovated and outfitted with comfortably and contemporarily appointed seating areas. Skylights will be installed to bring in natural light throughout the centre. New flooring will be added to lend a touch of elegance. The grounds will be relandscaped to upgrade the traffic lanes in the parking lot.
A renewed retail mix
A number of new retailers will be added to enhance the existing merchandise mix at Mail Champlain. Among the prestigious banners that have already opened for business are Jack & Jones and StyleXchange. They join the ranks of such well-known and well-respected retailers as Archambault, The Bay, H&M, Sports Experts/Atmosphere, Swarovski et Zara. Forever 21 has also signed a leasing agreement with Champlain and will open this fall under the XXI banner. Ivanhoe Cambridge is currently in talks with other potential tenants interested in what this investment will bring.
The administration of Mail Champlain confirms that the centre will remain open during the renovations and will strive to minimize any inconveniences for its customers.
"This redevelopment project is an excellent piece of news!" said Mail Champlain Manager Gilles Grégoire. "Our entire team is thrilled about the project, which will benefit retailers and consumers alike. The upgrades will undoubtedly bolster loyalty among our customers, who already appreciate the safety, convenience, comfort and controlled atmosphere of an enclosed shopping centre."
In recent years, Ivanhoe Cambridge has made many significant investments in Quebec to build or redevelop a number of its properties, including Centropolis (Laval), the Montreal Eaton Centre (Montreal), Mégacentre Rive-Sud (Lévis), Place Vertu (Montreal), Place Ste-Foy (Quebec) and Rockland (Mount Royal).
About Mail Champlain
Established in 1975, Mail Champlain is a premier fashion destination for Montreal's South Shore communities, thanks to the quality and diversity of its merchandise mix and its outstanding location, only minutes away from the Champlain Bridge. With a gross leasable area of over 726,000 square feet, Mail Champlain is home to some 150 leading retailers, including Archambault, The Bay, H&M, Sears, Sports Experts/Atmosphere, StyleXchange and Zara. Its website address is www.mailchamplain.ca.
About Ivanhoe Cambridge
Ivanhoe Cambridge is a pre-eminent Canadian-based global property owner, manager, developer and investor, focusing on high-quality shopping centres located in urban areas. Beyond its strong Canada-wide presence, the Company is also active in the United States, Brazil, Mexico and Europe, where it owns a number of properties either by itself or through joint ventures with prominent real estate partners. Abroad, Ivanhoe Cambridge also holds interests in several shopping centre development and management companies and maintains offices in Europe and Asia.
Its real estate portfolio consists of more than 49 million square feet (4.6 million square metres) of retail space and includes 80 regional and super-regional shopping centres. As at December 31, 2008, the market value of Ivanhoe Cambridge's assets reached CAD $14.5 billion.
Headquartered in Montreal, Quebec, Canada, Ivanhoe Cambridge is a principal real estate subsidiary of the Caisse de dépôt et placement du Québec, a leading Canadian institutional fund manager. Amongst its shareholders, the Company also counts four prominent Canadian pension funds. The Company's Internet address is www.ivanhoecambridge.com.
- 30 -
Source: Nancy Defoy, Senior Advisor, Communications and Public Affairs, Ivanhoe Cambridge, (514) 841-7792, firstname.lastname@example.org
/NOTE TO PHOTO EDITORS: The photos accompanying this release are available at http://photos.newswire.ca. Images are free to accredited members of the media/
SOURCE Ivanhoé Cambridge
For further information: For further information: Nancy Defoy, Senior Advisor, Communications and Public Affairs, Ivanhoe Cambridge, (514) 841-7792, email@example.com