Saturday, February 28th6.1°C
25355
23931

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.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX15234.34-6.82
S&P CDNX706.73+5.80
DJIA18132.70-81.72
Nasdaq4963.528-24.362
S&P 5002104.50-6.24
CDN Dollar0.7996+0.0004
Gold1203.00+6.10
Oil52.14+1.53
Lumber297.20+1.20
Natural Gas2.895-0.007

 
Okanagan Companies
Pacific Safety0.12+0.005
Knighthawk0.010.00
QHR Technologies Inc1.55-0.03
Cantex0.035-0.005
Anavex Life Sciences0.190.00
Metalex Ventures0.035-0.005
Russel Metals25.38+0.08
Copper Mountain Mining1.30+0.04
Colorado Resources0.15+0.015
ReliaBrand Inc0.008-0.0007
Sunrise Resources Ltd0.05+0.015
Mission Ready Services0.235+0.025

 



24909

FEATURED Property
2160712527 Valley Road
10089877 bedrooms
$1,469,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...


Are you asking the right questions?

Have you ever had this happen to you? You are in the middle of your second or third good discussion with a prospect and everything seems to be going great. The prospect seems engaged and happy to work...

_








Member of BC Press Council


25202