The Watch
LATITUDE
ALBERTA BENEFITS FROM $3.3 BILLION IN FEDERAL INFRASTRUCTURE FUNDING Through a plan called Investing in Canada, the
service extensions in Edmonton and Calgary. Green infrastructure will receive $1 billion, community, culture, and recreation infrastructure $141 million, and projects that improve life in rural and northern communities $160 million.
Government of Canada has committed $3.3 billion in cost-share funding to Alberta infrastructure projects over the next decade. About $2 billion of the funding will be used for new urban transit networks and
URBAN TRAINS TAKIN’ CARE OF BUSINESS Calgary’s CTrain system (above) and Edmonton’s LRT are both beneficiaries of recently announced federal funding.
IN THE ERA OF ONLINE SHOPPING, TWO NEW MALLS ARRIVE ON THE SCENE More and more people are doing their shopping at their phones and keyboards, so what’s with Alberta open- ing two multi-million-dollar malls, this summer? Maybe it has something to do with knowing your market, and how and where to reach it. The two newbies on the mall scene will offer very different shopping experiences in very different places. In Edmonton, an outlet mall near the airport is thought to be the first new mall in the region since Mill Woods Town Centre opened in 1988. Premium Outlet Malls Edmonton Airport, which is owned by two com- panies, Ivanhoé Cambridge and Simon, was built for $215 million. It features 100 retailers—including anchor stores like H&M and the Nike Factory Store—in an
enclosed, 37,160-square-metre space. The mall also offers travel-related services for shoppers, such as luggage storage and flight update screens. Meanwhile, in the hamlet of Balzac, just north of Calgary, the New Horizon Mall will open its doors later this summer. A $200-million project from the Torgan Group and MPI Property Group, the 30,000-square- metre, internationally themed shopping centre is designed to be a lot like an Asian-style bazaar. Most of its 500 occupants will be small businesses, selling diverse specialty items—think incense from Nepal or art from India. One other interesting note about New Horizon: unlike traditional shopping areas, retail spots will be owned rather than leased.
58 | PEG SUMMER 2018
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