KINGSTON, ON, Sept. 17 /CNW/ - A ground-breaking ceremony today marked
the beginning of construction at King's Crossing, a new Power Centre retail
development in Kingston, ON, Canada with completion scheduled for Fall 2008.
Developed by Toronto-based, Knightstone Capital Management Inc., the new
retail development is situated on a prime location with convenient access and
visibility from Hwy. 401, with an estimated traffic count of 135,000 cars
Formerly owned by Canadian National, the 90-acre site is fully zoned and
totals over 500,000 sq. ft. of new retail comprised of the following
- POWER CENTRE - a 50 acre site, approximately 400,000 sq. ft.
- FASHION OUTLET CENTRE - a 12 acre site, approximately 125,000 sq. ft.
and the largest Fashion Outlet of its kind between Toronto and
- ONE ACRE STANDALONE SITE - Ideal for a restaurant
- KINGSLAKE PLAZA - Approximately 75,000 sq. ft. of existing retail
"King's Crossing will become an important regional shopping attraction
and a focal point for the community," said David Lehberg, President/CEO of
Knightstone Capital Management Inc. "This project will create a new and
lasting identity for the city of Kingston, and will generate significant
economic growth and benefits to the community."
Once built, the project is expected to contribute over $2 million
annually in taxes to the city. King's Crossing will also create hundred's of
new permanent and part-time retail jobs and hundred's of new construction
King's Crossing will be anchored by large format retailers who will draw
consumers to the site, plus a mix of department stores and other key retailers
including Canadian Tire, Tommy Hilfiger, Puma, Nygard, Stokes, Liz Claiborne,
10 Below and many other national branded retailers.
ABOUT KNIGHTSTONE CAPITAL MANAGEMENT INC.
Founded in 2001, Knightstone Capital Management Inc. is a
privately-owned, Toronto-based real estate investment, asset-management, and
development company focusing primarily on office retail and multi-residential
assets in major Canadian and United States markets.
ABOUT KING'S CROSSING: A new, fully-zoned, retail project in
Kingston, ON, Canada totaling over
500,000 sq. ft. of new retail space.
SIZE: 78 acres
LOCATION: South side of Hwy. 401 at Division St.
exit in Kingston, ON
KING'S CROSSING DEVELOPMENTS: POWER CENTRE
- 50 acre site
- Approximately 400,000 sq. ft.
FASHION OUTLET CENTRE
- 12 acre site
- Approximately 125,000 sq. ft.
- The only Fashion Outlet Centre along
Hwy. 401 between Toronto and
ONE ACRE STANDALONE SITE
- Ideal for a restaurant
RANGE OF LEASABLE SPACE: - 1,000 sq. ft. to 70,000 sq ft.
HIGHWAY TRAFFIC COUNT: over 135,000 vehicles daily
COMPLETED DEALS WITH THE
FOLLOWING RETAILERS: Canadian Tire, Loblaw's, Tommy
Hilfiger, Puma, Nygard, Stokes, Ardene,
Boston Pizza, Liz Claiborne, 10 Below,
Courtyard Marriott Hotel, Indeka.
PARKING: 2,386 parking spots
NEW RETAIL JOBS TO BE CREATED: Hundreds!
NEW CONSTRUCTION JOBS TO BE
ESTIMATED DATE OF COMPLETION: Fall 2008
/NOTE TO PHOTO EDITORS: A photo accompanying this release is available on
the CNW Photo Network and archived at http://photos.newswire.ca.
Additional archived images are also available on the CNW Photo Archive
website at http://photos.newswire.ca. Images are free to accredited
members of the media/
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