Description of Organization
REALPAC (Real Property Association of Canada) is a national industry association representing leading organizations in Canada’s commercial real estate sector. Its members include developers, property owners, investors, asset managers, pension funds, and other organizations involved in building, managing, and investing in real estate. REALPAC supports the industry through research, advocacy, professional education, and opportunities for collaboration on issues affecting real estate and the built environment.
Problem area
Examine the opportunity to transform underutilized shopping-centre sites and surface parking lots into mixed-use communities while maintaining successful retail. The project could identify planning policies and design approaches that make intensification compatible with functioning retail operations. The departure of HBC has made the first topic unusually relevant, with Canadian landlords actively considering subdivision, mall extensions and redevelopment of former anchor spaces. Intensifying shopping center sites offers opportunities for diversification and more complete local communities.
Main objectives
- Assess the redevelopment potential of underutilized shopping-centre lands, including surface parking lots.
- Explore mixed-use development models.
- Evaluate opportunities created by changing retail conditions, including the closure of major anchor tenants such as HBC and the potential reuse, subdivision, or redevelopment of former anchor spaces.
Scope of work
- Analyze opportunities and barriers associated with vacant anchor spaces, surface parking lots, and phased redevelopment.
- Develop a set of best practices and actionable recommendations for municipalities, property owners, and developers.
- Identify key planning policies and design approaches for intensification of shopping center sites.
Deliverables
- Report
- Presentation
Frequency
- To be determined upon discussion with the project team.
Skills and training required
- Data analysis and interpretation
- Stakeholder engagement and communication
- Report writing and presentation skills
- Research and environmental scanning
Resources required
- Commercial real estate and demographic data
- Case studies, site plans, and redevelopment examples
NDA or a commercialization agreement for this project?
Yes