Place Ste-Foy to Undergo $50 Million Redevelopment

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Ivanhoé Cambridge will invest over $50 million to redevelop and modernize the upscale Place Ste-Foy shopping centre in Quebec City. The first phase will include redeveloping some of the mall's interior, including a vacant 68,000 square foot space formerly occupied by Les Ailes de la Mode. The mall's food court will be relocated to the mall's north wing, and new restaurants and retailers will be added. 

Besides the planned new work, the current replacement of flooring in the mall's western section will continue. 

The mall will see new Lululemon and Nespresso locations. Several existing retailers will also expand, move or redesign their spaces. Atmosphere will relocate into a space 5,000 square feet larger, and Browns Shoes will undergo a complete renovation. The Gap will be moved and redesigned, and Jean-Paul Fortin footwear will move to a larger space. Délac-table will also move to a newly redesigned location. 

Upscale Place Ste-Foy is one of Canada'a most productive malls, with sales in excess of $665 per square foot annually. The mall sees more than 8.6 million visitors a year and boasts an occupancy rate of over 90%. The 590,000 square foot mall features 135 stores, including upscale shops such as Georges Rech, Steilmann, Rudsak, and La Maison Simons' world flagship. On January 25, the mall's 33,000 square foot Holt Renfrew store will close forever. 

Ivanhoé Cambridge owns both Place Ste-Foy and neighbouring Laurier Québec. The two mall properties span a combined 1.84 million square feet with 369 retail outlet.

*both images are via Ivanhoé Cambridge. 

Today's Retail News From Around The Web: January 22, 2015