Place Ste-Foy offers renewed shopping experience thanks to bigger and better Simons
Place Ste-Foy, a property co-owned and managed by Ivanhoe Cambridge, today marked the completion of a $50-million redevelopment and expansion project. The initiative, the focus of which was to expand and renovate Simons, began in January 2008.
“Place Ste-Foy is one of the prime properties in our Québec portfolio. This project will allow the property to realize its full potential. Our Québec investment decisions are based on our in-depth Québec market knowledge, which enables us to identify the most promising, long-term business opportunities and ideas,” said Daniel Fournier, the Executive Vice-President, Real Estate and President, Real Estate group of the Caisse de dépôt et placement du Québec.
“In keeping with our strategic plan, we regularly invest in our properties to increase consumer traffic by drawing on our expertise in shopping centre management and development. More than ever, Place Ste-Foy now offers an exceptional shopping experience for consumers and an optimal operating environment for our retailers,” explained Kim D. McInnes, President and Chief Executive Officer of Ivanhoe Cambridge.
“Peter Simons’ vision for his Place Ste-Foy store was truly an inspiration for us. By aligning our respective goals, we were able to further differentiate the centre in its market and maintain its position as Quebec City's premier retail and fashion hub,” said Jean Laramée, Senior Vice President, Eastern Region for Ivanhoe Cambridge. “This major investment project has enabled Place Ste-Foy to contribute actively to the Quebec City area economic development,” he added.
A compelling project
“La Maison Simons is proud to have selected Place Ste-Foy as the home of its already popular flagship store," indicated Peter Simons, President of La Maison Simons. "We are grateful to the Ivanhoe Cambridge and Place Ste-Foy teams for having been so receptive and enthusiastic about this compelling project."
In addition to the expansion of Simons, the project saw the construction of nearly 300 additional underground parking stalls, the extension of the central mall from the south end out to Laurier Boulevard and the addition of 7,000 square feet (650 m2) of leasable space. A number of major brands including GUESS by Marciano, Simon Chang and Sephora have been added to the distinguished roster of retailers already operating at Place Ste-Foy, many of which are exclusive to the market. The project also included the redesign and revamping of the property’s Laurier Boulevard façade. Overall, the makeover at Place Ste-Foy has created an even more attractive shopping environment for consumers.
Ivanhoe Cambridge has been contributing to the economy of the Quebec City area since acquiring Place Ste-Foy in 1958. The Company also plays a key role in the economic growth of several other regions of the province through its 19 shopping centres and their 2,700 retailers that operate in them. These include Carrefour Rimouski (Rimouski), Les Rivières (Trois-Rivières), Mail Champlain (Brossard), Laurier Québec (Quebec City) and Rockland (Mount Royal).
About Place Ste-Foy
Recognized for its distinctive retail offering of leading fashion brands, Place Ste-Foy is home to more than 135 retailers, including such prestigious names as Simons, Holt Renfrew, Zara, Archambault and Signature Maurice Tanguay. With some 590,000 square feet (54 800 m2) of leasable space and parking for 3,000 vehicles, this Ivanhoe Cambridge property is remarkable for its elegant, inviting atmosphere and the quality of its retailers, many of which are unique to the Quebec City market. Place Ste-Foy welcomes more than 8 million visitors annually.
About Ivanhoé Cambridge
Ivanhoe Cambridge is a pre-eminent Canadian-based global property owner, manager, developer and investor, focusing on high-quality shopping centres located in urban areas. Beyond its strong Canada-wide presence, the Company is also active elsewhere in North America, Latin America, Europe and Asia, where it owns a number of properties either by itself or through joint ventures with prominent real estate partners. Abroad, Ivanhoe Cambridge also holds interests in several shopping centre development and management companies and maintains offices in Europe, Latin America and Asia.
Its real estate portfolio consists of more than 50 million square feet (4.6 million square metres) of retail space and includes 80 regional and super-regional shopping centres. As at December 31, 2009, the market value of Ivanhoe Cambridge’s assets reached CAD $12.8 billion.
Headquartered in Montreal, Quebec, Canada, Ivanhoe Cambridge is a principal real estate subsidiary of the Caisse de dépôt et placement du Québec, one of Canada’s institutional fund managers. Amongst its shareholders, the Company also counts four prominent Canadian pension funds. The Company's Internet address is www.ivanhoecambridge.com.