Dead Malls of Canada - Page 89

Toronto_GTA · #**1761** Posted **Jun 26, 2026, 3:58 PM**

It's interesting how many older malls have gone through this cycle. Some struggled to compete with online shopping, while others simply outlived their original purpose. In many cities, these sites are now being redeveloped into mixed-use communities with housing, retail, offices, and public spaces, making much better use of the land.

A good example is Toronto's Golden Mile Shopping Centre Redevelopment, which is transforming a traditional shopping centre into a large master-planned community:

https://www.gta-homes.com/master-planned-communities/golden-mile-shopping-centre-redevelopment/

Coldrsx · #**1762** Posted **Aug 12, 2026, 1:43 PM**

Ain't going to be dead for much longer...

---
FOR IMMEDIATE RELEASE
Westrich Pacific Receives Court Approval to Acquire
Edmonton City Centre, Unveils Major Redevelopment Vision

EDMONTON, AB — August 10, 2026 — Westrich Pacific Corp. is pleased to announce that on August 7, 2026, the Alberta Court of King’s Bench approved Westrich Pacific’s purchase of Edmonton City Centre from Otera Capital Inc., marking a significant milestone toward the planned acquisition and redevelopment of one of Downtown Edmonton’s
most prominent properties.

The transaction is expected to close before the end of the year.

A New Vision for Edmonton City Centre
Westrich Pacific plans to undertake a major, multi-phase mixed-use redevelopment of Edmonton City Centre, introducing new residential, retail, entertainment and wellness uses while improving the property’s connection to the surrounding downtown community.

The first phase of Westrich Pacific’s redevelopment vision is expected to include approximately 1,500 new residential units within the former Hudson’s Bay portion of the property. Plans for the first phase also contemplate a completely redesigned exterior, new street-fronting retail opportunities and a rooftop Nordic spa, bringing new residents, businesses and activity to the heart of Downtown Edmonton.
Future phases are envisioned to include a broader transformation and beautification of Edmonton City Centre, including a new exterior treatment for the mall, dynamic LED displays, new retail offerings and a significant focus on
entertainment, wellness and experiential destinations.
Westrich Pacific will now advance development permit drawings and detailed planning for the redevelopment.

Subject to required approvals, major construction on the first phase is anticipated to begin in early 2027, with subsequent phases proceeding as market conditions permit.
“This is the most exciting project of our careers. Edmonton City Centre has incredible potential, and we believe its transformation can play a meaningful role in the continued revitalization of Downtown Edmonton. It is humbling to have the opportunity to work on a project of this scale and impact. We look forward to working alongside City Council and other key partners to make this project come to fruition.”
— David Sanche, Co-CEO, Westrich Pacific

“I have not been this excited about a project in a long time. It’s the first thing I think about when I wake up and the last before bed; we are thrilled to be bringing this asset back to life.”
— Richie Lam, Co-CEO, Westrich Pacific

“This investment by Westrich is a strong sign of the revitalization we are seeing in our downtown core. Westrich has a proven track record of getting projects built and bringing more people into the heart of the city.
This investment is a strong signal that the transformation underway in downtown Edmonton is real. When investors see momentum, they follow.”
— Mayor Andrew Knack

About Edmonton City Centre

Edmonton City Centre encompasses approximately 1.4 million square feet of gross leasable area across 10 acres
and two full city blocks in the heart of Downtown Edmonton.
The property includes Edmonton City Centre West, Edmonton City Centre East, Centre Point Place, TD Tower, 102A
Tower, East Parkade, West Parkade and Preferred (underground) Parking.
The site offers direct access to Edmonton’s rapid transit network, with connections to the Metro and Capital LRT lines through Churchill Station and the Valley Line SE through the 102 Street stop. The property also includes approximately 2,567 underground and covered parking stalls and is pedway connected to the entire financial core.

About Westrich Pacific
Westrich Pacific is an Edmonton-based multifamily real estate developer specializing in residential and mixed-use
developments. The company is focused on creating high-quality projects across Canada through innovative
architecture, thoughtful design and exceptional locations.
Westrich Pacific’s vision is to continue elevating the standard of condominium and rental living while creating lasting
value for residents and the communities in which it builds.

www.westrichpacific.com

Contact:
David Sanche – Co-CEO, Westrich Pacific Corp.

TorontoDrew · #**1763** Posted **Aug 12, 2026, 4:40 PM**

Just for fun, here’s a list of Canada’s most successful malls ranked by revenue per square foot. This is one of the key metrics retailers care about when evaluating a shopping centre’s performance.

Most major malls provide retailers with regular reports showing things like foot traffic, sales performance, and how their stores compare with the rest of the centre. I was surprised by some of the visitor numbers when I started looking into them.

For example, the Toronto Eaton Centre reportedly sees around 50 million visits a year. To put that into perspective, if every man, woman, and child in Canada visited the Eaton Centre, each person would need to visit approximately 1.23 times per year to reach that number. That's a lot of mall traffic.

1. Yorkdale, Toronto
Owner: Oxford Properties
Average Sales Per Sq.Ft: $1,970 – $2,402
Year Opened: 1964
Number of Stores: 240
Average Annual Visitors: 18 million

2. CF Pacific Centre, Vancouver, BC
Owner: Cadillac Fairview
Average Sales Per Sq.Ft: $1,600 – $1,865
Year Opened: 1971
Number of Stores: 86
Average Annual Visitors: 23 million

3. CF Toronto Eaton Centre, Ontario
Owner: Cadillac Fairview
Average Sales Per Sq.Ft: $1,457 – $1,500
Year Opened: 1977
Number of Stores: 330
Average Annual Visitors: 50 million

4. Southgate Centre, Edmonton, Alberta
Owner: Ivanhoé Cambridge (JLL)
Average Sales Per Sq.Ft: $1,324 – $1,454
Year Opened: 1970
Number of Stores: 160
Average Annual Visitors: 9.2 million

5. Sherway Gardens, Toronto, Ontario
Owner: Cadillac Fairview
Average Sales Per Sq.Ft: $1,099 – $1,160
Year Opened: 1971
Number of Stores: 215
Average Annual Visitors: 8.7 million

6. CF Richmond Centre
Owner: Cadillac Fairview
Average Sales Per Sq.Ft: $1,088 – $1,200
Year Opened: 1965
Number of Stores: 183
Average Annual Visitors: 13.2 million

7. CF Chinook Centre, Calgary, Alberta
Owner: Cadillac Fairview
Average Sales Per Sq.Ft: $1,070 – $1,300
Year Opened: 1960
Number of Stores: 242
Average Annual Visitors: 15 million

8. Square One, Mississauga, Ontario
Owner: Oxford Properties/AIMCo
Average Sales Per Sq.Ft: $1,060 – $1,280
Year Opened: 1973
Number of Stores: 360
Average Annual Visitors: 24 million

9. Metropolis at Metrotown, Burnaby, BC
Owner: Ivanhoé Cambridge (JLL)
Average Sales Per Sq.Ft: $1,030 – $1,150
Year Opened: 1986
Number of Stores: 362
Average Annual Visitors: 28 million

10. Le Centre Eaton de Montréal, Québec
Owner: Ivanhoé Cambridge
Average Sales Per Sq.Ft: $983 – $1,145
Year Opened: 1990
Number of Stores: 137
Average Annual Visitors: 21.1 million

Biff · #**1764** Posted **Aug 12, 2026, 5:00 PM**

I'm surprised that Polo Park in Winnipeg isn't on that list as multiple sources put their Sales/Sq ft at $1,214 or $1,251 depending on who you choose.

That would put it at 8th. But I guess that is the deal with lists.

https://cadillacfairview.com/retail/properties/cf-polo-park/
https://getoccupi.com/malls/cf-polo-park
https://www.capitalgrp.ca/wp-content/uploads/2026/07/Winnipeg-Retail-Snapshot-Q2-2026.pdf

O-tacular · #**1765** Posted **Aug 12, 2026, 5:01 PM**

Funny West Edmonton Mall doesn't crack the list at all.

Innsertnamehere · #**1766** Posted **Aug 12, 2026, 5:11 PM**

West Edmonton Mall is fairly productive but falls off these lists due to it's sheer size. A lot of it's square footage is also non-traditional mall uses like Waterparks, etc. which while profitable and good at driving traffic to the wider mall, really pull down sales on a per square foot basis.

Yorkdale, for comparison, is relatively small (1.8m sf) and is concentrated with very high-value tenants which drive sales at a very high per-sf rate. Somewhere like Louis Vuitton can drive massive sales per sf.

MolsonExport · #**1767** Posted **Aug 12, 2026, 5:31 PM**

Yorkdale (and the Eaton Centre, Toronto) are always insanely busy. Square One (Missingsausage) also gets pretty busy.

I recall when Montreal's Eaton Centre was a veritable ghost town after the massive flagship Eaton's Department Store was shuttered.

James Bond Agent 007 · #**1768** Posted **Aug 12, 2026, 6:45 PM**

The ritziest mall I've ever been to is the Royalmount Mall in Montreal. I suppose it's a new mall and several of the spaces haven't been filled yet, but I would be surprised if it doesn't show up on that list sometime in the next 10 years or so.

James Bond Agent 007 · #**1769** Posted **Aug 12, 2026, 6:52 PM**

According to this, Yorkdale is the 2nd most profitable shopping mall in the world:

https://www.insidermonkey.com/blog/5-most-profitable-malls-in-the-world-1161606/

Coldrsx · #**1770** Posted **Aug 12, 2026, 7:23 PM**

Quote:

Originally Posted by Innsertnamehere

West Edmonton Mall is fairly productive but falls off these lists due to it's sheer size. A lot of it's square footage is also non-traditional mall uses like Waterparks, etc. which while profitable and good at driving traffic to the wider mall, really pull down sales on a per square foot basis.

Yorkdale, for comparison, is relatively small (1.8m sf) and is concentrated with very high-value tenants which drive sales at a very high per-sf rate. Somewhere like Louis Vuitton can drive massive sales per sf.

Bingo.

It gets something like 30,000,000 visitors a year, but many are there for basic stores, a fun day at the waterpark or just to explore and see a movie.

Gresto · #**1771** Posted **Aug 12, 2026, 10:28 PM**

Quote:

Originally Posted by James Bond Agent 007

According to this, Yorkdale is the 2nd most profitable shopping mall in the world:

https://www.insidermonkey.com/blog/5-most-profitable-malls-in-the-world-1161606/

The parking lots are always packed to the very limits. In fact, I'm surprised it "only" has 18 million visitors.
I haven't been there in years. It has lost the ordinary middle-class charm it had in the old days, when it was anchored by department stores (all no longer in business) and had a couple of book stores (W.H. Smith and Coles), computer stores, some clothing stores, a supermarket, a deli, a P.J.'s pet store, a booze outlet, and a bakery called Baguettes that pleasantly smelled up the whole place. Nowadays it's geared towards luxe brands and social-media poseurs. Ugh.

MolsonExport · #**1772** Posted **Aug 12, 2026, 10:40 PM**

Alas, most of the top malls now only sell women's designer handbags, women's designer shoes, and women's designer clothing and accessories.

Remember the days when big malls had toy stores, pet stores, record stores, hardware stores, grocery stores, and just about everything else? One stop shopping.

Now they are over-glitzy environments selling overpriced luxury crap (of which 90% geared to women).

Men have always hated shopping, and now it has become even worse, as there is nearly nothing that I want or need from these over-glitzy environments selling overpriced luxury crap.

The "Big Mall" (since tripled in size, but with vastly reduced categories of goods) of my neighborhood, 1960s: