Square One Expansion
To expand one of Canada’s most successful shopping centres to accommodate new-to-market retailers and additional parking.
- 220,000 sq ft retail and entertainment expansion
- Innovative one-level design developed in record time
Already one of the largest and most successful shopping centres in North America, Square One commenced construction on a 300,000 sq ft expansion in the late 1990s. The expansion was to consist of two levels of underground parking and three levels of retail and entertainment retailers. However, the sale of Square One from Hammerson to OMERS and AIM changed these plans dramatically.
The 3-level layout was not well received by the retail community so it was decided to reduce the GFA of the project to allow for a total GLA of 220,000 sq ft on one level as opposed to the original plan for a 3-level expansion. The construction management contract was cancelled, the lease commitments that had been made for the 3-level design were reworked or terminated and a new 1-level design was developed in record time. Though the new project opened a year later than the original schedule, it opened 100% leased and with a $20 million reduction in capital costs.
Cushman & Wakefield
Cushman & Wakefield Asset Services