Optimally situated with major thoroughfare exposure on all four frontages and boasting an additional 6 acres of expansion potential, Mill Woods Town Centre represented an ideal opportunity to undertake a transformational venture. By the time we sold our interest in the centre, Mill Woods secured the initial terminus for the Valley LRT on the property’s grounds, further entrenching its regional accessibility, demolished the former Zellers/Target anchor, and completed a rezoning to permit an additional 1,780 units and 700,000sf of commercial space for an integrated mixed-use development.
Identified an undermanaged and underperforming asset with high value-add potential
Increased property value by redefining the asset, including a significant re-zoning for the integration of a commercial and residential mixed-use redevelopment
Capitalized on the value by selling the property on both the income component and future density