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.

Just Posted

Chilliwack Centre of Excellence paddlers make national teams

The CCE athletes battled through four heats at Canadian team trials in Oklahoma.

OPINION: When observation affects what is observed

I’m aware that covering criminal court proceedings can impact lives and sometimes the proceedings too

Crown seeking 30 months for Abbotsford vehicle theft, flight from police, Chilliwack crash

Michael Joseph Hasell has 47 criminal convictions on his record in B.C. and Alberta

BC Ferries to pilot selling beer and wine on select routes

Drinks from select B.C. breweries and VQA wineries to be sold on Swartz Bay to Tsawwassen route

Rainfall warning: Up to 70 mm expected across Fraser Valley

Environment Canada issued a weather warning heading into the long weekend

VIDEO: Alberta man creates world’s biggest caricature

Dean Foster is trying to break the world record for a radio show contest

Man driving wrong way on Highway 17 ‘seriously’ injured after crash: Surrey RCMP

Police say the driver hit a transport truck, then another car after merging from the off-ramp onto highway

Should B.C. lower speed limits on side roads to 30 km/h?

Vancouver city councillor wants to decrease speed limits along neighbourhood side roads

Lawsuit eyed over union-only raise for B.C. community care workers

‘Low-wage redress’ leaves 17,000 employees out, employers say

Landlord of alleged Okanagan shooter recounts deadly day

Tony Friesen was working in one of the units of his Penticton building when he heard shots

Foreign national arrested in connection to thefts at YVR

A woman, 60, is being held in police custody as Richmond RCMP investigate

Police pursue pesky porker on Vancouver Island

‘This was allegedly not the pig’s first escape’

Rare ‘Snow Tower’ tree blooming in Vancouver city park

A plant rarely grown in Canada is now flowering at the Bloedel Conservatory in Queen Elizabeth Park

Westjet tries again to dismiss proposed class-action lawsuit alleging discrimination

Former flight attendant claims airline broke contractual promise to create harassment-free workplace

Most Read