It was announced on Feb. 7, 2019 that Chilliwack’s Cottonwood Mall was sold by Ontario-based Morguard to B.C.-based PCI Developments. (Submitted)

Chilliwack’s Cottonwood Mall has new owners, big changes in the works

Save-On-Foods officially announced as anchor tenants with $30 million in other investments

More changes are coming to the retail landscape in Chilliwack as the Cottonwood Mall has changed hands purchased by B.C.-based PCI Developments from Ontario-based Morguard.

“PCI Developments is excited about the opportunity to invest in Chilliwack, one of B.C.’s fastest growing cities and economies,” said Jarvis Rouillard, PCI’s Vice President Acquisitions and Leasing in a press release issued Feb. 7. “We are a Vancouver-based company with strong roots in retail, and with our purchase, we look forward to offering Cottonwood Mall local ownership and management, as well as building relationships with current tenants, attracting new tenants, and enriching the retail experience for the community.”

The news comes a little over a week after it was revealed to Save-On-Foods staff that the grocery store chain would be opening up its fourth local location in the vacant anchor tenant spot at the east end of the mall.

• READ MORE: Save-On-Foods coming to Chilliwack’s Cottonwood Mall

The announcement of the purchase of the mall also made official that Save-On-Foods would be moving in to the spot formerly held by Target and before that, Zellers. The grocery store will not take over the entire Target space, but 38,000-square-feet on the south side of the retail space.

“Save-On-Foods is a beloved B.C. brand that will provide increased daily foot traffic at Cottonwood Mall and create local jobs,” Rouillard said. “Grocery stores are a strong anchor for any community retail centre, and we believe a very important piece to our plan to renew and reinvigorate the experience at Cottonwood Mall. Save-On-Foods and London Drugs compliment each other well and we are pleased that they choose Cottonwood Mall as a key central location to serve Chilliwack residents.”

Construction on the new Save-On-Foods store is scheduled to begin this summer with completion targeted for later next year.

At the same time, the company plans to build a 6,000-square-foot pad in the south parking lot to accommodate two additional tenants, plus complete new leases for retail units both within the mall and on the north side of the existing Target structure.

This announcment of capital investment itself comes just a month after the announcement of the “demalling” of Chilliwack Mall across Luckakuck Way.

• READ MORE: ‘Demalling’ on the horizon for struggling Chilliwack Mall

Ontario-based SmartCentres Real Estate Investment Trust purchased that mall in 2017 and has a whole redesign in the works.

The developments at Cottonwood Mall are part of a “refresh” the company says may include spending more than $30 million, one of the largest capital investments in the mall’s 45-year history.

Future work will include modernizing the brand identity and signage, among other upgrades.

“Our capital investment in Cottonwood Mall is to ensure its longevity as a top community destination,” Rouillard said. “It is heartening to see seniors and families spend time at the mall, sometimes daily.”

Cottonwood Mall has 71 stores that are a mix of national brands and independent stores.

“We are looking forward to the exciting changes the new ownership has planned for our mall,” said Helen Crane, owner of the local COBS Bread Bakery, which has been at Cottonwood Mall for 14 years. “These changes will only mean a more positive experience for our consumers.”


@PeeJayAitch
paul.henderson@theprogress.com

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Voters in Saanich North and the Islands, here lining up outside Sidney’s Mary Winspear Centre on the first day of advanced voting. (Wolf Depner/News Staff)
It’s Election Day in B.C.: Here’s what you need to know to vote

B.C.’s snap election has already broken records for advance voter turnout, mail-in ballots

Jeremy Bull, budtender at Dutch Bros. Buds outside the new store on Vedder Road in Chilliwack. (Jennifer Feinberg/ The Chilliwack Progress)
Cannabis retail shops in Chilliwack roll through the pandemic

Opening Chilliwack cannabis store in pandemic was ‘interesting’ says a licensed store manager

Left to right: Sardis Kiwanis Club President Bruce Oakley with nominator Peter Somers, Sovereign’s Medal recipient Brian Cleaver, nominator Derek Fryer and nominator Peter Brown. (Submitted photo)
Chilliwack’s Brian Cleaver wins Sovereign’s Medal for Volunteers

Cleaver is a long-time member of the Sardis Kiwanis Club and a strong advocate for Special Olympics

This plexiglass ticket window pictured on May 19, 2020 is one of four that was installed outside City Hall as a pandemic safety measure. (Jenna Hauck/ The Chilliwack Progress file)
Chilliwack biz sector asked to review safety plans with an eye to improvement

Dr. Henry came out with enhanced recommendations for preventing COVID transmission

Provincial health officer Dr. Bonnie Henry updates the COVID-19 situation, B.C. legislature, Oct. 26, 2020. (B.C. government)
B.C.’s COVID-19 case count jumps by 287, another senior home outbreak

Two more deaths recorded, community outbreak in Okanagan

Janet Austin, lieutenant governor of B.C., was presented with the first poppy of the Royal Canadian Legion’s 2020 Poppy Campaign on Wednesday. (Kendra Crighton/News Staff)
PHOTOS: B.C. Lieutenant Governor receives first poppy to kick off 2020 campaign

Janet Austin ‘honour and a privileged’ to receive the poppy

Premier-elect John Horgan and cabinet ministers are sworn in for the first time at Government House in Victoria, July 18, 2017. (Arnold Lim/Black Press)
Pandemic payments have to wait for B.C. vote count, swearing-in

Small businesses advised to apply even if they don’t qualify

Court of Appeal for British Columbia in Vancouver. (File photo: Tom Zytaruk)
Sex offender who viewed underage girls as slaves has prohibitions cut from 20 to 10 years

Appeal court reviewed the case of Kyler Bryan David Williams, 29

Ranil Prasad saw this poster near Surrey Central SkyTrain station on Monday, Oct. 26, 2020. He said it expressed “some specific reference to white replacement theory.” (Photo: Ranil Prasad/@run_neil/Twitter)
Surrey man urges public to watch out for ‘white replacement theory’ posters

Ranil Prasad said he saw the messaging at a Surrey SkyTrain station

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

The B.C. Teacher Regulation Branch has issued a decision about the actions of an elementary school teacher in Langley. (Langley Advance Times files)
Langley elementary teacher suspended for grabbing, shoving, yelling at kids

Roxann Rojas will lose her legal authority to teach for two weeks from Oct. 25 to Nov. 7, 2020

A raccoon paid a visit to a Toronto Tim Hortons on Oct. 22, 2020. (shecallsmedrew/Twitter)
Who are you calling a trash panda? Raccoon takes a shift at Toronto Tim Hortons

Tim Hortons said animal control was called as soon they saw the surprise visitor

Most Read