AIRPORT OUTLET MALL SET TO TAKE OFF
Project gets new partner, new name and more space
There’s a revised name for the outlet shopping centre being built at Edmonton International Airport — and a new partner for original developer Ivanhoe Cambridge.
The project’s new name is Premium Outlet Collection — Edmonton International Airport. The partners behind it are now Ivanhoe Cambridge, which is based in Quebec, and U.S.-based Simon Property Group.
The facility, now with 428,000 square feet of leasable space, will open in fall 2017 with 100 stores, many never seen before in Alberta, the partners said in a joint new release Wednesday.
The outlet project was announced by Ivanhoe Cambridge in December 2013 as a 350,000 sq.-ft., fully enclosed facility called The Outlet Collection at EIA. It was to have more than 85 stores. In January 2015, more details emerged, including that the size had been bumped up to 415,000 sq.-ft. and the store count to 100.
Wednesday, Quebec-based Ivanhoe Cambridge announced it has teamed up on the project with Simon, a global leader in retail real estate.
“It’s a partnership to invest in the development,” Ivanhoe Cambridge spokesman Sebastien Theberge said in an interview.
“Ivanhoe Cambridge is responsible for the development but there’s an investment on the part of Simon to be a partner in this — a partner in developing and owning the centre.”
Ivanhoe Cambridge will develop and manage the centre. Ivanhoe Cambridge and Simon together will lease the property.
Each company also operates other outlet centres in Canada.
Theberge said the design of the Edmonton International Airport project hasn’t changed.
“The experience, the atmosphere, the ambience of the centre will remain what we actually told the market it would be a year ago,” he said.
Both companies said they will continue to collaborate on the project with EIA, one of the busiest airports in Canada. The outlet centre is a key component of EIA’s master plan for the airport site.