Tuesday, October 6th7.9°C

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 TSX13635.80+83.60
S&P CDNX535.98+6.07
S&P 5001977.87-9.18
CDN Dollar0.7667+0.0023
Natural Gas2.471+0.021

Okanagan Companies
Pacific Safety0.215+0.000
QHR Technologies Inc1.24+0.02
Metalex Ventures0.055-0.005
Russel Metals23.08+0.57
Copper Mountain Mining0.55+0.05
Colorado Resources0.07-0.01
ReliaBrand Inc0.004-0.000
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.09-0.00
Decisive Dividend Corp3.06-0.43
Diamcor Mining0.90+0.00



23763402064 Dewdney Road
5 bedrooms 5 baths
more details
Click here to feature your property
Please wait... loading

Perfect (reno'd) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

Living beyond 100

Photo: ContributedThere was a time most careers involved an apprenticeship of one sort another. Some official, others involving years of servitude, and others time simply spent watching and emulating ...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...




Member of BC Press Council