Saturday, March 12, 2016

Riady's [Lippo Group/PDG] behind retail property development, Okanagan Valley BC

 Riady's [Lippo Group/PDG] behind retail property development, Okanagan Valley BC

So what are the Riady's doing in the Okanagan Valley eh? Why buying up "prime" Retail Development Space from local Native Bands. One comes to mind up in Kelowna area " West Kelowna as its newly named/Westbank,much to the anger of the local residence. Lets see if I can find PDG development [Lippo] and post it here.

http://matrix.cwcanada.com/filecabinet/Property/595903/Okanagan_Lake_Shopping_Centre.pdf

The following are recent projects developed and/or currently under development by Property Development Group.
1. Eagle Landing Shopping Centre, Chilliwack, BC
PDG and League Assets, in joint venture with the Squiala First Nations, commenced construction of a 55-acre greenfield site by Trans Canada Highway 1 in Chilliwack in early 2010. The development is a 650,000 sq.ft destination power centre and retail village anchored by Wal-Mart (opened November 2010), Home Depot (opening April 2011) and Cineplex/Galaxy Theatres (opened November 2010). Upon full completion and build-out in 2013 Eagle Landing will be the dominant retailing centre for Chilliwack and the surrounding, extended trade area.
2. Tsawwassen Commons, Tsawwassen, BC
PDG is developing a 50-acre, 600,000 sq.ft. destination power centre. Tsawwassen Commons is being developed in cooperation with Ivanhoe Cambridge’s development of a 1.2 million sq.ft. Tsawwassen Mills project. Tsawwassen Commons and Tsawwassen Mills will occupy 175 acres of Tsawwassen First Nations lands along Hwy 17 from the intersection of 52nd Street to 48th Street. The two projects will have shared entrances from a new roadway network and shared internal circulation as well as a complementary merchandizing mix. More detailed information will be released regarding major anchor tenants and construction timing later in 2011.
3. North Saanich, BC
PDG, in joint venture with Churchill International Property Corporation, is developing a 650,000 sq.ft. destination power centre in Central Saanich on Tsawout First Nations lands. More information to be released regarding major anchor tenants and construction timing by Fall 2011.
4. Okanagan Lake Shopping Centre, West Kelowna, BC
PDG and Churchill International Property Corporation, in joint venture with the Westbank First Nations, have commenced construction of the initial phase of a 24-acre retail and entertainment centre on Hwy. 97 near the new bridge connecting Kelowna and West Kelowna. Anchor tenants include Shoppers Drug Mart, Landmark Cinemas, Royal Bank, TD Bank, Dollarama, Tim Hortons and Dairy Queen, along with other retail/service tenants. Future phases will include a major food store and additional CRU and pad tenants. The initial phase is scheduled to open in Summer 2012.
5. Colwood City Centre, Colwood, BC
PDG has been master planning the development of a landmark mixed-used project on a prime 15-acre site in Colwood. Upon completion, this 2.5 million square foot project will include London Drugs, a major food store, Royal Bank, Coast Capital and a liquor store as anchor tenants. The retail centre will be integrated with multiple residential high-rise and low-rise building components and several low-rise office components. There will be 3 underground parking and service levels to provide delineated parking areas for the retail, residential and office tenants and visitors. League Assets will announce further information by Fall 2011.
6. Channel Crossing, Penticton, BC
PDG is under development on a 25-acre destination retail centre in Penticton, to be anchored by a major food store, drug store, electronics chain and Landmark Cinemas, along with financial institutions, restaurants and other specialty retailers. Construction is targeted to commence in early 2012.
7. Duncan Mall, Duncan, BC
PDG redeveloped, in partnership with League Assets, an aging downtown mall and former Wal- Mart location. PDG conceived and implemented a successful redevelopment strategy that dramatically transformed the property into a vibrant and relevant shopping destination. New tenants include Winners, PetSmart, SportChek, Source, Tim Horton’s, Ardenne’s, amongst others, to complement the existing major retailers including Real Canadian Superstore and Staples.
8. Duncan Village, Duncan, BC
PDG developed, in partnership with League Assets, a former motel site along the Island Highway (and adjacent to the Duncan Mall project). Anchored by London Drugs, Duncan Village has a diverse mix of retail, fashion and restaurant tenants including White Spot, Reitman’s, Shoe Warehouse, Warehouse One, Suzanne’s, Sally Beauty and Liquor Plus.
9. Anderson Crossing, Vernon, BC
PDG developed, in partnership with League Assets, the Anderson Crossing shopping centre in Vernon. Visible from and easily accessed from Hwy. 97, Anderson Crossing’s major tenants include the Brick, Red Robin, Bulk Barn and Great Canadian Oil Change with internal ingress/ egress to the adjacent Home Depot store and garden centre.
10. Other Projects
PDG is currently in negotiations to acquire additional development and/or redevelopment opportunities in the lower mainland of BC and in selective primary markets in Alberta.

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..there have been delays with both government and local native bands..