Wembley Mall will almost double in size when the current redevelopment and expansion is complete, say the owners of the Parksville shopping facility.
City council agreed Monday to renew a development permit that will allow Canadian Tire to renovate the existing Save-On-Foods store after that grocer moves into its new digs on the site, likely early in the new year.
R.G. Properties, the owners of the mall complex, sent a news release and artist's rendition Tuesday morning, detailing the company's plans.
The current mall, built in the late 1980s, currently sits at 106,000 square feet. Once completed, the Wembley Mall will be almost 200,000 square feet of retail space, according to R.G.
"The expansion represents a $32 million investment, and reaffirms our confidence in Parksville-Qualicum Beach both today and in the future," said Graham Lee, President of R.G. Properties Ltd.
"We are confident that the expanded Wembley Mall, with the new Save-On-Foods and the addition of the Canadian Tire, will help keep shopping dollars in the local economy and also will enhance the Parksville shopping experience."
The company says the first phase of construction is currently underway and will result in an expansion of approximately 75,000 square feet by the end of 2014. Included will be a new home for Save-On-Foods measuring approximately 42,000 square feet. A B.C. Liquor Store retail outlet is to comprise 9,000 square feet of the expansion, and the remaining space will be commercial retail units that will be available for retail and service tenants.
“We’ve been proudly serving customers on Vancouver Island since we opened our first store here in 1918,” says Darrell Jones, president of Save-On-Foods’ parent company, the Overwaitea Food Group. “We’re thrilled to be bringing this fantastic new store and our expanded offering to the community of Parksville later in the coming months.”
R.G says the second phase, commencing in 2015, will have Wembley Mall welcome Canadian Tire to Parksville. Canadian Tire will move into the 37,000 square foot space that formerly housed Save-On-Foods. The remainder of the phase will see the relocation of the Red Apple store to create an anchor tenant for the north end of the Mall, and the remodeling of a significant portion of the existing space to create retail opportunities for both local and national tenants.
“This is a great day for our corporation as we are able to become a part of the Parksville community,” Clint Elenko, Vice President of Real Estate for Canadian Tire said.
An opening date for Canadian Tire will be determined once Save-On-Foods moves into its new space at Wembley Mall.
According to the news release, R.G. Properties Ltd. (a wholly owned subsidiary of GSL Holdings Ltd.) owns and operates a wide variety of companies in related industries. Initially founded by Graham Lee as a real estate development company in 1989, R.G. Properties has rapidly expanded to develop numerous entities.
The company says that while real estate development remains an integral part of the business, it continues to expand its operational scope to better serve its existing customers and future customer prospects.
R.G. Properties also owns the WHL Victoria Royals, located at another R.G. Properties facility, the Save-on Foods Memorial Centre.