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12

RioCan Being `Bold’ With Calgary Retail, Condo Project, CEO Says

By Tony Seruga

Development will add 770,000 square feeet in city’s downtown
`There hasn’t been overbuilding in retail,’ Sonshine says

RioCan Real Estate Investment Trust, Canada’s largest retail landlord, is starting construction this week on a project that will add 770,000 square feet (71,500 square meters) of shopping and residential space in downtown Calgary, despite an oil crash that’s cut jobs and forced other companies to slow development.

The slowdown is why RioCan Chief Executive Officer Ed Sonshine is moving ahead with the project now, he said…

RioCan Being `Bold’ With Calgary Retail, Condo Project, CEO Says

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