in this article it says construction will start in 2023 so still a few years away.
The mall is dead. Long live the mall
NANCY LANTHIER
SPECIAL TO THE GLOBE AND MAIL
PUBLISHED 20 HOURS AGO
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A recently approved redevelopment of the Lansdowne Centre mall will transform a huge area of Richmond, B.C. HANDOUT
Like many suburban cities, Richmond, B.C., doesn’t have a downtown. A handful of strip malls and three vast indoor malls stretch along the main drag of this coastal city on the southern edge of Metro Vancouver. But last month, city council approved a redevelopment plan that will transform the largest, middle mall into a downtown proper for the city.
The transformation of the sprawling Lansdowne Centre mall, which covers a staggering 50 acres along No. 3 Road, is one of the largest redevelopment projects in Metro Vancouver’s history. The seven-phase plan turns the mall inside-out to create a high street brimming with local and international shops, restaurants, bars and services.
The mall’s 3,300-car parking lot – said to be the largest lot in all of Vancouver – will transform into a complete community with a potential 22 residential towers containing condos, rentals and affordable units for 10,000 residents; two office towers; a town square for events of up to 5,000 people, flanked by a community centre; a school, daycare, seniors’ home and a seven-acre park, Richmond’s new festival space.
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Not your parents’ mall
VANCOUVER LEADS MALL REDEVELOPMENTS, NEIGHBOURHOODS OF THE FUTURE
Across Canada, malls, the megafauna of the retail world, are transforming into neighbourhoods of future. The catalyst wasn’t just the demise of anchor department stores or the pandemic-accelerated rise of big box stores and online shopping. The surge in real estate prices, especially for land around mass transit hubs, has changed the metrics for valuing shopping centres. Sales per square foot have been superseded by the value of the land per square foot. This is particularly evident in land-constrained markets such as Metro Vancouver. While Mississauga’s 123-acre Square One transformation marks the largest mixed-use development in Canada’s history, Metro Vancouver is currently seeing the most mall redevelopments, with a dozen projects on the go.
In Burnaby, alone, four malls are under development, each one striving to outdazzle the other. At Metrotown, the plans include a 75-storey tower, which will make it the tallest in the province – that is, until the 81-storey, 800-foot-high pinnacle rises at the Lougheed Town Centre in a few years. Further east, in Coquitlam, the aging Coquitlam Centre is another mall turning into a downtown. Vancouver’s Oakridge Centre redevelopment, the largest in the city’s history, just received approval to build an additional 775 residential units. In Richmond, the swaths of parking lots at Richmond Centre mall are giving way to 12 new mid-rise buildings.
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https://www.theglobeandmail.com/busi...live-the-mall/
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