Oshawa Centre to enter into new era of shopping

$230-million investment into an expansion and redevelopment project to start 
in summer 2013 
MONTREAL, Jan. 23, 2013 /CNW Telbec/ - Ivanhoé Cambridge announced today a 
$230-million redevelopment and expansion project at Oshawa Centre, a 
well-established shopping centre located in Oshawa, Ontario. The project will 
result in 24,000 square metres (260,000 square feet) of new construction 
including approximately 17,000 square metres (185,000 square feet) of 
redeveloped retail space and approximately 7,000 square metres (75,000 
square feet) of new retail. Once complete, the total gross leasable area of 
the shopping centre will exceed 116,000 square metres (1.25 million square 
feet). 
The additional space will allow the centre to introduce over 60 
highly-desirable retailers into the Durham regional market. Construction will 
begin in summer 2013 and is slated for completion in spring 2016. 
"Ivanhoé Cambridge's substantial investment in Oshawa Centre will enhance the 
centre's fashion offering, solidify its competitive positioning and enable it 
to meet retailer demand," said David Baffa, Vice President, Retail 
Development, Central Region, Ivanhoé Cambridge. 
Project details 


    --  Over 60 new retail concepts, including two additional large
        format retailers
    --  New 1,000-seat, sophisticated food court
    --  New main entrances on the east side
    --  New and updated entrances on the west side
    --  Upgraded seating area elements, including floor and ceiling
        treatment
    --  Fully renovated washrooms with modern upgraded finishes

"This expansion and renovation reaffirms our confidence in the Oshawa 
community and the Durham region, today and in the future. Today's announcement 
is not only great regional economic news but also reinforces our dominant 
position in the fastest growing community in the GTA," added Bill Thompson, 
General Manager, Oshawa Centre.

"Oshawa Centre has been a part of the Oshawa community for close to six 
decades," said Oshawa Mayor John Henry. "A renovation and expansion project of 
this size will create numerous construction and retail jobs right here in our 
city."

About Oshawa Centre
Built in 1956 as an open air shopping centre, Oshawa Centre has been an 
integral part of the Durham Region for nearly 60 years. Currently at 1.1 
million square feet, the super regional shopping centre offers over 230 stores 
and services that create a unique shopping experience. The mall features 
sought after fashion forward brands such as Victoria's Secret, PINK, Sephora, 
Lululemon Athletica, Town Shoes, GUESS, H&M and the largest Boathouse location 
in Canada. Oshawa Centre was one of the first to be recognized for 
excellence in the environmental management and performance, achieving the BOMA 
BESt level 4. The centre will continue its exceptional leadership in 
sustainability and environmental practices. Located just east of Toronto and 
minutes from Highway 401, it is the largest super regional shopping centres 
within the Durham Region, one of the fastest growing regions in Canada.

About Ivanhoé Cambridge
Ivanhoé Cambridge is one of the world's 10 largest real estate companies. As 
at December 31, 2011, its assets totalled more than Cdn$30 billion and could 
be found in over 20 countries around the world. Ivanhoé Cambridge is a real 
estate subsidiary of the Caisse de dépôt et placement du Québec 
(lacaisse.com), one of Canada's leading institutional fund managers. For more 
information, visit ivanhoecambridge.com.

Sébastien Théberge Senior Director, Public Affairs and Communications 
sebastien.theberge@ivanhoecambridge.com Media line:1.866.456.3342 Global: 
+1.514.847.4171

Image with caption: "Ivanhoé Cambridge announced today a $230-million 
redevelopment and expansion project at Oshawa Centre (CNW Group/Ivanhoé 
Cambridge)". Image available at:  
http://photos.newswire.ca/images/download/20130123_C7936_PHOTO_EN_22870.jpg

SOURCE: Ivanhoé Cambridge

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CO: Oshawa Centre
ST: Quebec
NI: CST NP 

-0- Jan/23/2013 13:30 GMT


 
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