This is a long and convoluted story, but I will attempt to give you the Coles Notes version as I know it.
About 7-8 years ago there was an elaborate plan to develop the western portion of the Vision Lands, anchored by a large retail/residential development sponsored by Cordova Realty (now Thrive Developments) and by the Shannex Corporation. The Cordova development was to be called Mapleton Crossing Phase 2.
The two developments required an expansive street network to be constructed, including an extension of LJR Blvd across the north branch of Hall's Creek. This would require the construction of an expensive bridge (no bridge, no Shannex).
The bridge was to financed by development charges for Mapleton Crossing. The anchor for Mapleton Crossing was to be the new Costco. Ultimately, Costco chose to build instead in the Granite Centre. This left Mapleton Crossing without an anchor, and the plans for this project fell through.
Without financing from Mapleton Crossing, the bridge became uneconomic, and construction was cancelled. As I said above, no bridge, no Shannex campus.
Shannex instead has decided to build in the Pinehurst neighbourhood instead. Construction is well underway, but the development is not quite as ambitious as the one for LJR Blvd would have been. If I recall, the original plan was for at least four 10 storey buildings as part of the campus. The independent living buildings along LJR also would have been of considerable stature.
FWIW, I think it a shame that Costco decided to build in the Granite Centre. I'm sure the Granite Centre would never have been built without Costco, and, Costco as part of Mapleton Crossing Phase 2 would have allowed the whole Mapleton Road area to flourish and to rapidly develop, kickstarting the Vision Lands, and limiting sprawl north of the TCH. This one decision by a giant retailer (Costco) will have ramifications for the future development of the city that will last for decades...........