A mega, Asian-style, shopping mall is in the works for a location just off of Highway 2, north of Calgary and south of Cross Iron Mills shopping center. The huge market style complex will house more than 500 stores as well as dining & entertainment.
Sales for the project are underway with some major players looking at setting up shop. This will bring an extra boost to the local economy (not that Calgary really NEEDS it).
“Calgary is the place to be for anything. It’s a leader in the nation for retail sales, growth, disposable income. It’s a very attractive place to invest both as a developer and for merchants to run businesses because the vacancy rate is so low,” said Eli Swirsky. Swirsky is the president of The Torgan Group which is developing the project with The MPI Property Group, said construction is expected to start in late 2014 with completion in late 2016.
Like any other large retail, commercial project this will have a vast positive impact on the City of Calgary. Not only bringing in more options for shoppers but offering jobs, opportunities for entrepreneurs, more tax dollars for the city and it will make the Calgary real estate market more competitive. No doubt there will be many people looking for housing in the city creating a stronger demand for current inventory.
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