Vancouver’s Oakridge Centre converts a 1950s mall to a modern-day hub
WALLACE IMMEN SPECIAL TO THE GLOBE AND MAIL
PUBLISHED 11 HOURS AGO
Oakridge Centre, designated as a new town centre for Vancouver, sits on 30 acres of land and is easily accessible by the SkyTrain. WESTBANK CORP
It may be made of concrete and steel, but flexibility is the key for the redevelopment of Vancouver’s Oakridge Centre. With fast-changing retail, social and technological trends, it’s a must.
“The project is literally evolving every day,” even as new roads and infrastructure are being built and the first phase of the ambitious multiyear, mixed-use project is due to begin in the new year, says Ian Gillespie, founder and president of real-estate developer Westbank Corp.
But that’s necessary. “How much of what we know has changed since we first started talking about this project 10 years ago? And how much is going to change in the next seven years it will take to complete the project? The answer is: everything.”
It’s an approach too few developers are taking in rethinking aging retail complexes anywhere, he says. The Oakridge redevelopment started with a plan by previous owner Ivanhoé Cambridge Inc. to add 10 residential and office towers and parkland around the 30-acre Oakridge Centre, which is near the SkyTrain station at Cambie Street and 41st Avenue.
Like most malls built in the 1950s, it’s surrounded by parking lots. Mr. Gillespie pressed for a new vision in 2017 when Westbank partnered with QuadReal Property Group, which purchased Ivanhoé Cambridge’s stake in 2017.
“This has been designated by the city as a new town centre for Vancouver,” Mr. Gillespie says. “Where are you going to find 30 acres of consolidated ownership of land on the Canada Line again? It deserves a lot of thought.”
That’s led to a vision of a mixed-use community designed to evolve with the times. For instance, the plans envision a million square feet of retail spaces that can easily be reconfigured in size, depending on tenants’ needs. There will be an open-air high street, which the mall does not currently have, and there will be indoor retail zones that face onto parkland that’s replacing parking lots.
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