A joint venture between Hudson's Bay Co. and RioCan Real Estate Investment trust says it may sell its downtown Vancouver property.
Oil prices aren't likely to bounce back to the heights at which they once soared, but Calgary's economy is nevertheless surging and ripe for new industries to be fostered, says Glen Hodgson, an economist and senior fellow with the Conference Board of Canada.
The former Polo Park Target store, sitting empty since the U.S. retail chain left Canada in 2015, is getting some work done as efforts continue to find a replacement tenant, or tenants. A spokesman for one of the co-developers of the Plaza at Polo Park retail/office/restaurant development, where the former Target store was the anchor tenant, said the support pillars are being strengthened to make the 120,000-square-foot building suitable for a wider variety of tenants. "Floor load is really the issue," said Sandy Shindleman, president and CEO of Shindico Realty, noting some retail tenants require a building with a higher floor-load capacity than others.
Entrepreneur Alan Gertner hopes Calgarians will soon visit his Beltline store to purchase cannabis accessories, coffee and eventually — if everything goes according to plan — cannabis itself. The Toronto CEO behind cannabis-themed retail outfit Tokyo Smoke is bringing his stylish coffee shop and pot accessory store to Calgary this fall.