commercial real estate

Developments

Belmont Rendring

With 22 properties slated for development over the next decade or longer, Crombie is focused on increasing our presence in some of the most competitive commercial real estate markets in Canada. Working both independently and in joint-ventures, we're evaluating, planning, and building spaces that will help shape the way people will live, work, shop, and play in Canada's fastest growing metro areas.

22

Major Development Opportunities

858,000 sq. feet

Commercial Potential

8.3M sq. feet

Residential Potential
Belmont Rendering
Langford, BC
Active Development

Belmont Market

Category
Mixed Use
Completion Date
2021

Developed as a highly desirable, grocery anchored, mixed use centre in Langford, BC, Belmont Market is 100% owned by Crombie REIT and is under active development. Currently estimated at 192,000 square feet, the retail development will include a new 53,000 square foot Thrifty Foods store, a new Thrifty Office, and approximately 116,000 square feet of additional retail commercial space on 20 acres of land.

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Avalon Mall
St. John's, NL
Active Development

Avalon Mall

Category
Retail Enclosed
Completion Date
TBD

In order to enhance customers’ experience further, Crombie has initiated a three-year, multi phased, redevelopment of Avalon.  Phase 1 is underway and includes the construction of a four-level 875 space parking structure, redesign and realignment of the main mall vehicular access, and the redesign and renovation of the mall's interior common areas. The capital upgrades are expected to enable Crombie to continue to improve tenant mix, increase sales per square foot, maximize NOI, and continue to be the premier enclosed shopping mall in the province.

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Scotia Square Rendering in Halifax, Nova Scotia
Halifax, NS
Active Development

Scotia Square

Category
Mixed Use
Completion Date
2017

Scotia Square is situated in the centre of the downtown Halifax business district, at the corner of Barrington and Duke Streets. This complex comprises 1.6 million square feet of office and retail space and is directly connected to two hotels. Crombie recently completed a three-level expansion on Barrington Street of approximately 25,000 square feet (gross building area), which includes a new and modern main entrance into the complex.

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This discussion of Crombie’s development properties contains forward-looking statements about expected future events, including statements and images regarding the locations identified, timing, cost, and development size and nature, all of which may be impacted by real estate market cycles, the availability of financing opportunities and labour, actual development costs and general economic conditions, and which assumes obtaining required municipal zoning and development approvals and successful agreements with development partners and existing tenants. All forward-looking information is qualified by all cautionary statements included in Crombie's public filings which can be found under the “Company Documents” page under the “Investor Relations” tab on this site. These forward-looking statements are not guarantees of future events or performance and, by their nature, are based on Crombie’s current estimates and assumptions. Crombie can give no assurance that actual results will be consistent with these forward-looking statements.