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One of Ottawa’s oldest malls, Westgate Shopping Centre, will get a radical makeover if a real estate company wins the city’s approval.
RioCan Real Estate Investment Trust, which owns 340 shopping centres across Canada, wants over the next 20 years to “transform” Westgate into a series of mixed-use towers — five in all — that would include commercial outlets — from grocery stores and bank to fitness centres and restaurants — and 1,100 residential units.
The proposal has yet to be submitted to the city, but Wednesday evening area residents got a look RioCan’s intentions during a “community consultation” at the Best Western Hotel on Carling Avenue. The session was sponsored by area councillors Riley Brockington and Jeff Leiper. At many as a 100 people were in attendance at any given time.
Spokesmen for RioCan explained that the project reflects the changing nature of both the real estate market and consumer shopping. With more and more people shopping online and smaller retailers less in demand, commercial property owners like RioCan need to made better use of their assets, they said. Couple this with a growing rental market — young people unable to afford single-family homes and looking for cheaper houses, and retirees looking for one-place-meets-all-needs accommodation.
“There’s a strong movement toward rental, and many people want to live more cheaply and closer to where they shop,” said Stuart Craig, RioCan vice president of planning and development, noting that RioCan has 17 other properties across the country that, like Westgate, it is looking to revitalize. “We also want to maintain commercial retail (on RioCan’s properties), but we need to bring more people to the retailers.”
“This (property) is an underused asset for RioCan,” said planning consultant Miguel Tremblay, noting the store vacancies in the current shopping centre and the declining popularity of such retail outlets. “They have a long-term vision for repositioning this asset.”
Westgate, built in 1955, is one of Ottawa’s first shopping malls.
The RioCan project would, if approved, be developed in phases, with work on the first 24-storey building — the site is currently occupied by Monkey Joe’s restaurant — beginning in possibly three years. After that, RioCan would build the other four towers, one by one, moving existing commercial leaseholders and new ones into the new structures.
Eventually, there would be three 24-floor buildings and two taller towers, all with a mix of residential and commercial.
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RioCan Real Estate Investment Trust, which owns 340 shopping centres across Canada, wants over the next 20 years to “transform” Westgate into a series of mixed-use towers — five in all — that would include commercial outlets — from grocery stores and bank to fitness centres and restaurants — and 1,100 residential units.
The proposal has yet to be submitted to the city, but Wednesday evening area residents got a look RioCan’s intentions during a “community consultation” at the Best Western Hotel on Carling Avenue. The session was sponsored by area councillors Riley Brockington and Jeff Leiper. At many as a 100 people were in attendance at any given time.
Spokesmen for RioCan explained that the project reflects the changing nature of both the real estate market and consumer shopping. With more and more people shopping online and smaller retailers less in demand, commercial property owners like RioCan need to made better use of their assets, they said. Couple this with a growing rental market — young people unable to afford single-family homes and looking for cheaper houses, and retirees looking for one-place-meets-all-needs accommodation.
“There’s a strong movement toward rental, and many people want to live more cheaply and closer to where they shop,” said Stuart Craig, RioCan vice president of planning and development, noting that RioCan has 17 other properties across the country that, like Westgate, it is looking to revitalize. “We also want to maintain commercial retail (on RioCan’s properties), but we need to bring more people to the retailers.”
“This (property) is an underused asset for RioCan,” said planning consultant Miguel Tremblay, noting the store vacancies in the current shopping centre and the declining popularity of such retail outlets. “They have a long-term vision for repositioning this asset.”
Westgate, built in 1955, is one of Ottawa’s first shopping malls.
The RioCan project would, if approved, be developed in phases, with work on the first 24-storey building — the site is currently occupied by Monkey Joe’s restaurant — beginning in possibly three years. After that, RioCan would build the other four towers, one by one, moving existing commercial leaseholders and new ones into the new structures.
Eventually, there would be three 24-floor buildings and two taller towers, all with a mix of residential and commercial.
查看原文...
