Sears Canada has deal to develop site at Calgary's North Hill Shopping Centre
TORONTO - Sears Canada says it has an agreement to develop its property at the North Hill Shopping Centre in Calgary with the Concord Pacific Group of Companies.
The development of its almost five-hectare site would include residential high-rises with the potential for some retail sites, while Sears says it will continue to operate its store at the North Hill Shopping Centre.
The agreement would see the sale of a 50 per cent interest in the site to Concord for a value of about $15 million, and Concord would manage most of the development.
The project is subject to approval from the City of Calgary.
Concord has a similar agreement with Sears for the retailer's land adjacent to its store at Metropolis at Metrotown in Burnaby, B.C.
Over the last few years, Sears Canada (TSX:SCC) has faced stiff competition from long-time rivals such as Hudson's Bay Co., and American giants like Walmart and Target and has been restructuring.
Read more Business News
- Power outage pastimesWest Kelowna
- Conserve waterWest Kelowna
- Students rally for classmateVernon / N. Okanagan
- Garage goes up in flamesCentral Okanagan
|QHR Technologies Inc||1.22||-0.04|
|Anavex Life Sciences||0.1804||-0.0036|
|Copper Mountain Mining||2.29||-0.13|
|Sunrise Resources Ltd||0.065||+0.045|
|Mission Ready Services||0.31||-0.01|
Investors seeking income often limit their selection to bonds and give little or no consideration to preferred shares. They usually ignore preferreds simply because they don't know much about them...
Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...
Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...