SmartCentres, Canada's largest retail developer, has broken ground on a new 117,000-square-foot shopping centre in Mission. The nine-acre site, at the intersection of Lougheed Highway and Wren Street, will be anchored by a 95,000-square-foot Wal-Mart store, expected to open early next year.
SmartCentres will be investing more than $30 million into the local economy through the construction phase of the development. The project is also forecast to contribute approximately $700,000 in annual property taxes to the District of Mission and create over 400 construction and retail jobs in the community, according to the company.
District of Mission Mayor James Atebe noted the centre will reduce the outflow of retail spending to neighbouring communities, such as to nearby Abbotsford, which already hosts a Wal-Mart.
Sylvain Rivet, regional director of real estate for Wal-Mart Canada Corp., was on hand to commemorate the ground-breaking. "Wal-Mart looks forward to being part of the community in Mission," she said.
Members of Mission's Downtown Business Association seem to agree.
A quick poll of local merchants found a welcoming attitude to the world's largest retailer.
"People who shop at Wal-Mart are already driving to Abbotsford anyway," said Carlo Billenger, owner of Rex Cox Mens Wear. "Having a Wal-Mart here will give our kids a chance at jobs, and it could attract other big retailers. It takes Mission to the next level."
from Western Investor September 2011
