Lots of positivity surrounding plans for the Riverview Mall.
Big changes were announced last week, with new restaurants, retailers and residential properties planned.
“We’re really excited about the potential for this redevelopment to meet community needs that we’ve heard from our residents. We know that these developers have a strong portfolio. They’ve developed similar properties in places like Amherst, Truro and PEI. These deals take time, and they tend to be quite private, but we are glad to have had multiple meetings with them across many other departments including economic development, engineering, and administration, all the way up to the Mayor level. So we’ve been happy to work with them,” says Town of Riverview Economic Development Manager Shanel Akerley.
The Gray Group and Tier Too Properties are the new owners of the Riverview Mall. They expect the transition will begin this fall, including tearing down some of the current structure.
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“We know that people are looking for that kind of mid to fine dining experience places to go on date nights or to celebrate special occasions. Those types of restaurants, and also coffee shops and there’s also more opportunities for retail. We’ve also heard from residents through our Commercial Market Threshold study that they’re also looking for things like clothing, shoes, and gifts, so lots of retail opportunities. Then may be also some sectors that are always top of mind when it comes to shopping places, so places like health services. Not just doctor’s practices, but also chiropractors, and registered massage therapists. There’s a big shortage of those in Riverview,” Akerley adds.
A development like this could also mean big things for tourism in the Town of Riverview. Akerley says it has been positioned as the corridor towards Fundy, and any traffic would also be exposed to retailers.
The Town isn’t privy to exactly which businesses the new owners are considering in this redevelopment, but Akerley says The Gray Group and Tier Too Properties have seen their study, and they are aware of what residents are looking for.
“We’re also excited to see them consider residential development as part of this project. As it stands, Riverview’s vacancy rate is still at 0.7 per cent as of October last year. A tight rental market would be around 3 per cent so we know there’s still room for growth in the residential sphere,” Akerley says.
For any businesses that are considering expansion or are just starting up, Akerley suggests that they consider Riverview.
“There’s a lot happening. There’s a lot of new commercial spaces that are coming to light so if this is the right time, be sure to reach out to your local economic development office, and we will connect you to the right people.”
