Quote:
Originally Posted by Sheba
What’s more, the updated plan calls for the construction of a “major performance/event centre” and perhaps a new arena.
Maybe that's what they're going to do with the empty Target space...
Then again maybe that's not such a far fetched idea. Retail has been moving towards smaller spaces and that's a big spot to fill (even if they cut it in half and had each floor being it's own store). I'd suggested before about it being converted into something 'non-retail' - and it has outside entrances.
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The nice thing about convention space is that it's multi-purpose. Ignoring for the moment the sound-insulation requirements for performances, any purpose-built convention space can switch between a convention center's exhibition space and additional temporary retail space for seasonal (eg Halloween and Christmas) pop-up stores. Right now, the court spaces at Metropolis mall are already used for small events, so this is consistent with what I'm suggesting below.
The Target space has been empty ever since (116,700 square foot space across two floors), same with the Best Buy space across the street (Why did they bother moving, now nobody knows where it is.)
I predict once of three scenarios:
1) Metropolis is redeveloped in phases (currently has 1.7 million square feet) with the existing parking lots becoming part of a new building space, so a new convention space (Ideally a an additional 3 million square foot area of convention floor space with a purpose-built hotel component could be found that could be partitioned off/stacked on top of each other, keeping the food/retail component to the bottom three floors. That would actually attract conventions here.) This is the ideal, yet unrealistic option since that would mean two developers working together to begin with.
2) A bunch of the current car dealership spaces on Kingsway are converted to this convention space. Or the Old Orchard Shopping center and surrounding properties. Less likely because it's not near the Skytrain station.
3) Acquire all the properties on the north and south side of Royal Oak station and build it there. More likely, but less optimistic, since key property holders don't want to sell.
It is not unheard of for a developer to demolish 1-5 year old buildings to build something bigger. A huge waste of materials however. This is what I think was a missed opportunity with Station Square. Ivanhoe Cambridge should have straight up bought it and the Sears property, and redeveloped the entire property from west to east as a large covered shopping mall+office tower+hotel+convention center complex. 5 million square feet of space (2 million shopping, 3 million convention space), largest and tallest buildings in BC, etc. But this is just wishful long-term thing. This is the same missed opportunity with
Tsawwassen Mills, also an Ivanhoe Cambridge project.
Metropolis is 1.78 million square feet (presumably not including the parking lot space) on what I think is 30 acres, Amazing Brentwood is 1.1 million (on 28 acres.)
Concord Pacific bought the sears quadrant (8.9 acres) of the Metropolis property area, so it's likely just going to be a bunch more thoughtless "luxury" condo developments (The Met phase 3 through 10?) and not an expansion of the mall retail area, which would be incredibly disappointing.
Meanwhile there's plenty of properties around Brentwood that could also be redeveloped, so the most likely location for a performance venue would be there.
The most likely thing is that the City of Burnaby will continue to never refuse a development.