Why is Mayfair Mall expanding?
City planners have once again approved a commercial renovation project in the city of Victoria, British Columbia. Slated for a 72 Million dollar renovation, Mayfair mall at Douglas and Finlayson will expand by 100,000 square feet of new retail space. Yet Hillside Mall renovation still remains vacant to a great extent. Uptown city center has not yielded the commercial business they thought it would attract. Existing commercial retail vacancies are on the rise throughout the city.
What are the city planners, retail developers, and the general managers thinking? Why are they approving projects that do not reflect demand?
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Source/credit:
Personal video footage
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For more information on this project:
http://victoria.citified.ca/news/mayfair-shopping-centre-expansion-plans-revealed/