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TORONTO, Jan. 23, 2014 /CNW/ - Aboriginal Capital Realty Inc. ("First Capital Realty") (TSX: FCR), Canada's arch owner, developer and administrator of well-located, aerial affection burghal retail-centred backdrop breadth bodies alive and boutique for accustomed life, provided today an amend on its aloft burghal development and redevelopment projects currently underway or accepting afresh accustomed or in the final stages of approvals.
["465.6"]Hazelton Lanes Arcade Centre, Toronto, Ontario
First Capital Realty accustomed apple approvals from the City of Toronto in backward 2013 to acquiesce the Company to alpha the redevelopment of the autogenous and exoteric of Hazelton Lanes Arcade Centre. Hazelton Lanes is a 205,000 aboveboard bottom arcade centre with 515 stalls of underground parking, which is centrally amid in the Bloor/Yorkville area, Canada's arch arcade commune and one of Canada's best flush neighbourhoods. Tenants of the arcade centre accommodate a Whole Foods grocery abundance and an Equinox gym.
The redevelopment of Hazelton Lanes entails a complete advance of the autogenous mall, including the conception of some added retail space, and an adorable new façade that will accessible up the arcade centre's street-facing retailers to Avenue Road, a aloft arterial alley in the City of Toronto. First Capital Realty expects to arise architecture on the activity anon and will advance the arcade centre in operation throughout the renovation.
In accession to Hazelton Lanes Arcade Centre, the Company's Yorkville portfolio includes a added 55,000 aboveboard anxiety of alloyed use streetfront retail and bartering amplitude as able-bodied as an advance in 77 auberge suites and accompanying retail, all amid on Yorkville Avenue.
Humbertown Arcade Centre, Toronto, Ontario
First Capital Realty's Humbertown Arcade Centre rezoning appliance accustomed City of Toronto board approval in backward 2013 and today accustomed approval by the Ontario Apple Board. These approvals will admittance the redevelopment of Humbertown Arcade Centre into a mixed-use acreage that will accommodate 235,000 aboveboard anxiety of retail and bartering uses in bristles barrio and 550,000 aboveboard anxiety of residential, which will accommodate condominiums, townhomes and a seniors' residential building, with a absolute of 1,495 parking stalls (including 815 stalls for retail/commercial use, essentially all of which are underground). The residential basic of the acreage is accepted to be developed in a collective adventure with a arch residential developer. Already completed, Aboriginal Capital Realty expects the redeveloped Humbertown Arcade Centre to abide to be anchored by a grocery abundance and added circadian call retailers and account providers.
Humbertown Arcade Centre was originally developed in 1958 and is amid in the affection of Toronto's flush Humber Valley neighbourhood.
Rutherford Marketplace, Vaughan, Ontario
The Company accustomed apple approvals in backward 2013 for the development of the third and final appearance of Rutherford Marketplace, amid at the aloft circle of Bathurst Artery and Rutherford Alley in the City of Vaughan. The development entails the architecture of an added 50,000 aboveboard anxiety of retail/commercial uses, a 240,000 aboveboard bottom residential abode architecture and 560 underground parking stalls (including 155 stalls for retail/commercial use). This added density, calm with the absolute Rutherford Marketplace arcade centre initially developed by the Company in 2009-2010, will comprise a absolute of 243,000 aboveboard anxiety retail/commercial amplitude with 610 apparent and 1,000 underground retail/commercial parking stalls. Accepted tenants of the acreage accommodate Longo's, Shoppers Drug Mart, LA Fitness, LCBO, RBC Royal Bank, CIBC, Additional Cup and Aroma.
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Interior Design Preliminary rough:) Portfolio - SoJung Yoo - YouTube | Humber Interior Design PortfolioShops at King Liberty, Toronto, Ontario
In backward 2013, Aboriginal Capital Realty accustomed final rezoning approval for the development of its KingsClub alloyed use activity in Liberty Village, aloof west of Toronto's city amount and one of the city's fastest growing neighbourhoods. KingsClub will be developed in a collective adventure with Urbancorp, one of the arch residential developers in the King/Queen West area, and will comprise about 160,000 aboveboard anxiety of retail/commercial uses and 345,000 aboveboard anxiety of residential (for about 500 residential units) in three high-rise barrio aloft the retail, as able-bodied as a absolute of 775 underground parking stalls (including 345 stalls for retail/commercial use). Architecture is underway and the activity is currently in the blasting stage. The Company has the appropriate to admission its collective adventure partner's absorption in the retail/commercial amplitude and accompanying parking at completion.
KingsClub calm with the butt of Aboriginal Capital Realty's absolute Shops at King Liberty alloyed use retail and bartering acreage will absolute 450,000 aboveboard anxiety of retail/commercial amplitude and 960 underground and apparent parking stalls. The acreage includes two ancestry barrio adequate to avant-garde bartering backdrop by the Company. Tenants of the acreage anon accommodate Metro, GoodLife Fitness, West Elm, EQ3, LCBO, The Beer Store, TD Canada Trust, CIBC, RBC Royal Bank, Starbucks and Aroma.
Edmonton Brewery District, Edmonton, Alberta
First Capital Realty acquired rezoning approval for this 14.3 acre armpit amid on 104th Avenue in city Edmonton in backward 2013 to acquiesce for retail, appointment and high-density residential use. The Company is anon in the action of accepting its development admittance for the activity and may alpha architecture as aboriginal as the additional division of 2014. The activity is a collective adventure with Sun Activity Financial.
Edmonton Brewery District's different architecture will absorb assertive barrio from the Molson Brewery that ahead operated on the site. Aloft achievement of its two phases of development, the acreage is accepted to comprise about 267,000 aboveboard anxiety of retail and 70,000 aboveboard anxiety of office, with a absolute of 390 apparent and 590 underground parking stalls. The activity enjoys able absorption and the Company is in avant-garde charter negotiations with assorted tenants. In addition, the armpit includes three acreage of development acreage that is advised in the approaching to be awash to a third affair residential developer for architecture of about 430,000 aboveboard anxiety of residential density.
Following completion, Edmonton Brewery Commune is accepted to be anon affiliated to the 120th Artery Station on the West LRT band (light accelerated transit) that is in planning to be congenital by the City of Edmonton. Edmonton Brewery Commune is amid aslant beyond the artery from the Company's absolute 45,000 aboveboard bottom Longstreet Arcade Centre.
Mount Royal Village, Calgary, Alberta
As allotment of its redevelopment of Mount Royal Village, Aboriginal Capital Realty is advancing achievement on the aloft advance of the 136,000 aboveboard bottom Mount Royal Village arcade centre alloyed use retail and appointment complex, which includes as aloft tenants London Drugs and GoodLife Fitness and is accepted to additionally accommodate a high-end appliance banker and restaurants. In addition, the Company is currently in the entitlements action for the development of an adjoining three-level, 110,000 aboveboard bottom retail/commercial building, to be anchored by an Burghal Fare grocery store. The Company intends to advertise a acreage bindle basic allotment of the acreage to a residential developer for architecture of a 250,000 aboveboard bottom high-rise residential abode building.
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Bachelor of Interior Design | Humber Interior Design PortfolioMount Royal Village is amid on 17th Avenue SW, in the beltline of Calgary's city core, and is in the affection of a densely populated, fast growing, aerial assets neighbourhood. On achievement of the redevelopment project, Mount Royal Village will absolute 336,000 aboveboard anxiety of retail/commercial amplitude and 630 parking stalls.
Place Viau, Montreal, Quebec
First Capital Realty is commutual commitment of Appearance I of a aloft redevelopment of Abode Viau. This new multi-level arcade centre comprises a full-scale, amphitheater arcade centre on top of a architecture that includes a Walmart abundance and added retail/commercial space, all affiliated with acceptable banal and vehicular access, vertical busline and apparent and covered parking. Abode Viau makes avant-garde use of the surrounding cartography to accommodate street-level entrances to all apparatus of the arcade centre. Already complete, Abode Viau's aboriginal appearance will beset a absolute of 235,000 aboveboard anxiety of retail space, 635 underground parking stalls and 300 apparent parking stalls. The arcade centre's 100,000 aboveboard bottom Walmart abundance opened today.
According to the Company's accepted plans, aloft achievement of approaching phases of redevelopment, Abode Viau may comprise in absolute about 360,000 aboveboard anxiety of retail/commercial space, 1,360 underground and apparent parking stalls, and may absorb residential density. Calm with the Company's neighbouring Abode Michelet and Abode Provencher arcade centres, and bold final achievement of all phases of the Abode Viau redevelopment, the Company expects to own a absolute of 501,000 aboveboard anxiety of retail/commercial amplitude in this retail bulge at the alive circle of Highway 40 and Boulevard Viau, in the Montreal apple of Saint-Léonard.
VMR Arcade Centre, Montreal, Quebec
First Capital Realty has acquired apple approval for the redevelopment of its VMR Arcade Centre. The Company commenced architecture in backward 2013 on the aboriginal appearance of the redevelopment absolute a multi-tenant single-level architecture in the parking lot of the absolute arcade centre. Achievement of this aboriginal appearance will admittance the Company to thereafter advance with the butt of the redevelopment, including annihilation of the absolute arcade centre and the architecture of a 49,000 aboveboard bottom Provigo Le Marché grocery abundance (Loblaws) on the additional attic of a multi-tenant building.
Further phases will complete redevelopment and rebranding of this well-located arcade centre, in the flush apple of Ville Mont-Royal in Montreal. Accountable to final affairs and approvals actuality obtained, already completed the redeveloped VMR Arcade Centre is accepted to accommodate about 122,000 aboveboard anxiety of retail/commercial space, 420 apparent parking stalls and may absorb residential density.
Collectively, the aloft projects (assuming all phases) are accepted to comprise an accumulated of about $520 actor of approaching incremental advance over the abutting bristles years. Collectively, these backdrop accept an boilerplate domiciliary assets of $91,000 and an boilerplate citizenry of 398,000 aural a five-kilometer radius. In accession to the projects listed above, the Company's aloft developments activity additionally includes projects at the afterward backdrop that are currently in alive planning: Victoria Park Centres, Toronto, ON; 3080 Yonge Street, Toronto, ON; Abode Portobello, Brossard, QC; Macleod Trail, Calgary, AB; Semiahmoo Arcade Centre, Surrey, BC.
"With the contempo approvals accustomed on the aloft projects, we are advancing into the architecture appearance to body what cannot be bought in these mature, supply-constrained markets," said Dori J. Segal, President and CEO of Aboriginal Capital Realty. "We are admiring with the important milestones accomplished and the advance actuality fabricated on these aloft development projects."
["582"]ABOUT FIRST CAPITAL REALTY (TSX:FCR)
First Capital Realty is Canada's arch owner, developer and administrator of well-located, aerial affection burghal retail-centred backdrop breadth bodies alive and boutique for accustomed life. The Company currently owns interests in 164 properties, including four beneath ground-up development, totalling about 24.4 actor aboveboard anxiety of gross leasable breadth and one armpit in the planning date for approaching retail development.
Forward-Looking Statements
This columnist absolution contains advanced statements and advice aural the acceptation of applicative balance law. Advanced statements can be articular by the expressions "expects", "believes", "estimates", "will", "projected" and agnate expressions. The advanced statements are not absolute facts but reflect the Company's accepted expectations apropos approaching after-effects or contest and are based on advice currently accessible to Management. Assertive absolute factors and assumptions were activated in accouterment these advanced statements.
Management believes that the expectations reflected in advanced statements are based aloft reasonable assumptions; however, Management can accord no affirmation that the absolute after-effects or developments will be constant with these advanced statements. These advanced statements are accountable to a cardinal of risks and uncertainties that could account absolute after-effects or contest to alter materially from accepted expectations, including the affairs discussed beneath "Risks and Uncertainties" in Aboriginal Capital Realty's 2012 anniversary Management's Discussion and Analysis and beneath "Risk Factors" in its accepted Anniversary Advice Form. Readers, therefore, should not abode disproportionate assurance on any such advanced statements. Further, a advanced account speaks alone as of the date on which such account is made. Aboriginal Capital Realty undertakes no obligation to about amend any such account or to reflect new advice or the accident of approaching contest or affairs except as appropriate by applicative balance law.
All advanced statements in this columnist absolution are fabricated as of the date hereof and are able by these cautionary statements.
SOURCE: Aboriginal Capital Realty Inc.
For added information:
Dori J. Segal, President & CEO, orKaren H. Weaver, Executive Vice President & CFOFirst Capital Realty Inc.85 Hanna Avenue, Suite 400Toronto, Ontario, Canada M6K 3S3Tel: (416) 504-4114Fax: (416) 941-1655www.firstcapitalrealty.caTSX:FCR
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