New Horizons Mall open... and empty

[Swarly]

Originally Posted by corporatejay

Oh really? Where are you gonna get inexpensive cell phone cases then?

alibaba.com ?

[Tron_fdc]

I'm fairly certain anything in New Horizon can be found on Amazon for less money.

I just had Amazon deliver rolling papers to me for f sake. It's crazy.

[The Yen Man]

I think many people had doubts about the business model even back during it's inception. I was hoping the mall would succeed though. I think a multicultural mall with a variety of food and unique items would have been awesome. Maybe something like what Eau Claire failed to be would work.

[Locke]

Originally Posted by The Yen Man

I think many people had doubts about the business model even back during it's inception. I was hoping the mall would succeed though. I think a multicultural mall with a variety of food and unique items would have been awesome. Maybe something like what Eau Claire failed to be would work.

You're right on both counts, I think a lot of people would have really liked a multicultural mall and many people had doubts about business model.

The ultimate problem. The people who invested in the mall were only in it for increasing property values, this assumes added value make their investment increase.

But its so expensive that nobody can actually get in there and generate any value so its falling on all sides.

[Calgary14]

Obvious solution is to offer 1 year free rent for x number of stores so they can actually start to build some momentum, foot traffic etc. And that way they could be picky about who comes in and what value they'd add, the area only needs so many knockoff good stores.

And if that fails they should just turn the entire building into either laser tag or paintball, not as location-dependent and surely there's a demand for indoor paintball especially in the winter

[4X4]

Originally Posted by Calgary14

Obvious solution is to offer 1 year free rent for x number of stores so they can actually start to build some momentum, foot traffic etc. And that way they could be picky about who comes in and what value they'd add, the area only needs so many knockoff good stores.

And if that fails they should just turn the entire building into either laser tag or paintball, not as location-dependent and surely there's a demand for indoor paintball especially in the winter

Yeah but the kiosks are all privately owned by speculators. That's the problem. The mall itself has no control over the mall.

[Calgary14]

Pool all resources together as one common building, hire out a 3rd party management company to do the day to day stuff and each owner gets their share of the annual net profits based on ownership relative to the building total (ie. square footage) so if you owned more than 1 unit you'd get a higher percentage of the annual profits

[dubc80]

Originally Posted by Calgary14

Pool all resources together as one common building, hire out a 3rd party management company to do the day to day stuff and each owner gets their share of the annual net profits based on ownership relative to the building total (ie. square footage) so if you owned more than 1 unit you'd get a higher percentage of the annual profits

Good in theory, but I bet its setup like a condo board where you need a certain percentage of votes or proxys to do anything communal like that.

Will be very tough to gain momentum on anything collective as each owner will have their own motivations, timelines, and views on how they want things to go.

Add in the fact that most of these owners are out of town (and probably overseas) and I bet the response and approval rate would be very very low.

[jmac98]

I stopped in this mall a few months ago just to take a look with my kids. It was definitely a ghost town, but the thing that I noticed more-so was just how crammed in I felt. Regardless if the shops ever do fill or remain empty, it was just a claustrophobic feeling either way with a mish mosh of never ending aisles and rows. I didn’t care for the layout at all.

[The Familia]

What a waste of money and materials. I look forward to the day when they announce the mall is closing and they are converting it into some other use.

[undercoverbrother]

Originally Posted by The Familia

What a waste of money and materials. I look forward to the day when they announce the mall is closing and they are converting it into some other use.

Like a rink or two.

[Sainters7]

Was up at Cross Iron today for only the second time ever, I had no idea this mall was practically right across the street from it! ...why?!?

[Deegee]

Originally Posted by undercoverbrother

Like a rink or two.

If they talked to Airdrie, there might actually be serious interest for that. There are significant ice shortage issues in that community.

I believe they are in year 2 or 3 of 10 with Crossfield to get 9-10 hours from them a week.

[81MC]

Add a rink, a skatepark, indoor go-karts (sorry speeders, time for some competition), and batting cages. Maybe throw in a pool hall, arcade or mini golf. It would be the funnest place ever, and actually have things Calgary is lacking.

[shadowlord]

My vote is to hold drone racing through all that open ceiling space. Any drones that fall into vacant/unleashed shops become property of the shop owner.

[KTrain]

All these ideas for the space are great but require buying out all the current owners of the spaces in the mall.

There are a bunch of units still available for rent on Kijiji. Some to buy as well if you have $150k to $250k for ~300 sqft.

[Calgary14]

Originally Posted by KTrain

All these ideas for the space are great but require buying out all the current owners of the spaces in the mall.

There are a bunch of units still available for rent on Kijiji. Some to buy as well if you have $150k to $250k for ~300 sqft.

It would have to be decided among all owners to get rid of the personalized spaces and collectively use the entire area as one. Each owner would get their share of the net income every year based on how they vote to use the space.

This may be difficult as each owner has a diff agenda but if they're faced with years of non-occupied space and $0 revenue or the potential for some (any income at all) using the entire building as one it might sway some owners into voting for this. Yes it's still a bad investment but this may help to recoup some of the initial funds

[GoinAllTheWay]

Originally Posted by shadowlord

My vote is to hold drone racing through all that open ceiling space. Any drones that fall into vacant/unleashed shops become property of the shop owner.

I was very much on board until your last sentence. That's harsh

Ripping micro drones around my office is a ton of fun and it's only about 3500 sqft.

Always thought it'd be cool to buy an old abandoned warehouse to have a multilevel racetrack and small store.

[flamesfan1297]

Stopped in here today on my way by just to check it out. Such a weird layout, and I knew the kiosks things were small but I didn't realize they were that small. Everyone here is right, there's no way they mall can succeed the way it is

[boogerz]

Originally Posted by Sainters7

Was up at Cross Iron today for only the second time ever, I had no idea this mall was practically right across the street from it! ...why?!?

It was supposed to be Calgary's version of Pacific Mall and Aberdeen Mall, which would have probably worked if they didn't $&%# it up with that stupid ownership model