commercial real estate

Developments

Belmont

With 24 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.

24

Major Development Opportunities

1.1M sq. feet

Commercial Potential

8.5M sq. feet

Residential Potential
27th Street Safeway in North Vancouver, British Columbia
North Vancouver, BC
Pre-Planning

Lynn Valley

Category
Mixed Use
Commencement Date
TBD

Lynn Valley is located in the District of North Vancouver in the popular Lynn Valley Towne Centre. The 2.82 acre site currently has a 36,000 square foot Safeway as the major tenant. Crombie is currently developing plans to accommodate the targeted density and meet the guidelines of the Official Community Plan. Rezoning of this property is required prior to proceeding with any redevelopment.

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Elbow Drive SW Safeway in Calgary, Alberta
Calgary, AB
Pre-Planning

Mission

Category
Mixed Use
Commencement Date
TBD

The Mission Safeway, located in the affluent Elbow Park area of Calgary, currently has a 24,000 square foot grocery store located on the 1.6 acre site. The project will overlook the Elbow River and have exceptional city and mountain views when complete. Preliminary discussions with the City of Calgary will take place when market conditions improve and redevelopment of this site is warranted.

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Royal Oak Safeway in Burnaby, British Columbia
Burnaby, BC
Pre-Planning

Royal Oak

Category
Mixed Use
Commencement Date
TBD

The Royal Oak Safeway is located in close proximity to Metrotown in Burnaby - an area experiencing significant redevelopment as a result of recently adopted Metrotown Downtown Plan in 2017. The high profile site has the potential for redevelopment to occur in the near future. Initial planning has commenced and a comprehensive rezoning plan is being developed to facilitate discussions with the City of Burnaby.

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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.