Quote:
Originally Posted by WarrenC12
Sure, but if Wal-Mart felt it didn't make sense, wouldn't they unload that property?
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Yeah, you'd think so.
The COV link you posted shows the property owner as First Pro Shopping Centres (last page of the pdf report) - which is also SmartCentres - so it's a developer, rather than Walmart itself, that is sitting on the land - so maybe they have something else in mind?
One of the main issues with the process at the time was the anger towards Walmart, whereas the City can't discriminate on who the tenant is, but should evaluate based on the built form and impacts. Just like Costco moved out of the Grandview space and Walmart moved in - retail space is in flux, and stores can and do open and close - even big ones like Walmart (and Sears).
Personally, I don't think the Canadian Tire project next door is very successful, so I wonder about the viability of a Wal-Mart next door (although the Wal-Mart would create some synergy with the Canadian Tire project).
Anyways, First Pro / SmartCentres has a huge stable of possible tenants that could move into a project down there:
http://www.smartcentres.com/our-tenants
The Walmart in Richmond will be in a SmartCentres project:
http://www.smartcentres.com/locations/richmond-n-bc