Colonnade Opens Third Retail Development

December 2012

YIG and Tim Horton's occupy approximately 40% of the total area of the 75,000 sf Centre, both have been extremely busy since opening on November 30. The 27,500 sf YIG replaces the undersized Valumart and is well positioned to serve the demands of the 15,000 person growing primary market. New housing starts are projected to increase the trade area to over 20,000 people in the forseeable future. Tim Horton's, complete with fireplace and television, is one of few food services in the community and the only establishment with drive-thru to serve both the local and commuter traffic.

 

Richmond, is located in Ottawa just South and East of Kanata and Stittsville. A retail study conducted by Canadian Industry leader Malone Givens Parsons demonstrated that the market was significantly under-serviced, or in some cases non-existent, in all retail and service categories. Targeted areas are Financial Institutions with Drive-thru which does not currently exist, enhanced Pharmacy and LCBO/Beer offerings, Quick Service Restaurants and a licensed Pub/restaurant, personal services and medical care such as doctors, Dentist, Chiropractor, Massage Therapy and Physiotherapy, Hair Salon and all general retail uses.

Colonnade will use a phased approach as it has done in its Carleton Place and Kemptville projects, and expects to build a Bank and at least one other multi-tenant building for opening later next year. The balance of the project is expected to occur in 2014.

Colonnade’s first Retail project in Carleton Place just west of Ottawa on Hwy 7, includes. Rona, The LCBO, Staples, TD Canada Trust and Starbucks. They continue to expand the highly successful Kemptville Colonnade regional power centre just South of Ottawa on Hwy 416. The Centre is already home to Wal-Mart, Canadian Tire, Staples, Dollarama, Scotiabank and TD Canada Trust, Bulk Barn, Tim Horton's, A&W, Subway, Dairy Queen, Pet Valu and Anytime Fitness. A new Sportcheck, LCBO and Shoeless Joes Restaurant are schedule to open next spring and Summer.

In addition to its owned Retail projects, Colonnade also develops, manages and constructs on behalf of 3rd party Owners. On behalf of the Owners Colonnade will be be managing and overseeing the transition from Zellers to Target at the Meadowlands Mall in Ottawa throughout 2013.

A very full parking lot

The opening ceremony

A bustling checkout