Ivanhoé Cambridge begins an important redevelopment project at Laurier Québec

The project's initial phase will modernize the food court

QUEBEC CITY, April 13, 2015 /CNW Telbec/ - Ivanhoé Cambridge announced today the first phase of a redevelopment project at its Laurier Québec shopping centre. The project will see the modernization of the food court, so as to become an exceptional venue emphasizing innovation and entertainment. Meanwhile, the centre will see its retail mix enhanced with the arrival of several new banners. The initial phase of work represents an investment of $18 million.

"We are proud to launch this project starting with a significant investment that will strengthen Laurier Québec's positioning as a Quebec City retail leader," stated Stéphan Landry, General Manager, Laurier Québec, Ivanhoé Cambridge. "Modernizing the spaces will help enhance the shopping experience through a unique restaurant and entertainment offering that will meet our customers' needs."

For his part, Jean Landry, Vice President, Shopping Centres, Quebec, Ivanhoé Cambridge, said: "Laurier Québec is a dominant shopping centre in the Greater Quebec City market and we are thrilled with the idea of starting the first phase of a redevelopment project. Investing in our shopping centres is a priority at Ivanhoé Cambridge to offer our customers and our retailers an enviable environment that provides an unmatched shopping experience."

A unique food court

• To meet growing customer demand, the space has been re-envisaged:
• Creation of several zones offering different ambiances;
• Floor space expansion by 465 m² (5,000 ft²) because of the relocation of certain services;
• Increase of seating capacity from 1,300 to 1,434, becoming Quebec City's food court with the largest seating capacity;
• Addition of an escalator linking the second level directly with the new food court;
• Expansion and renovation of the washrooms.

A new event zone

The new layout has been designed to provide an event zone, the first of its kind for a shopping centre in Quebec. The addition of state-of-the-art multimedia and stage equipment will offer customers a continuous interactive experience. A removable stage will allow for a year-round calendar of truly dynamic artistic events: autograph sessions, performances and an outstanding venue for up-and-coming artists.

A retail mix enhanced by the arrival of new retailers

Laurier Québec will welcome 8 new banners by the end of 2015. As announced recently, the centre will host the largest Forever 21 store in the Quebec City area, set to open its doors in the fall. Laurier Québec's range of retailers will also be enhanced by the Allô Mon Coco restaurant and Centre du Rasoir, GNC, Structube, Studio, The Faceshop – the first in the Quebec City market – and Think Kitchen stores, as well as by the expansion of Renaud-Bray. Several other retailers will also be taking the opportunity to carry out renovations: L'Imaginaire, Rogers, Vidéotron, Presse Gateway, Reitmans, San Francisco (upper level), Aqua and La Vie en Rose.

Ivanhoé Cambridge, owner of both Place Ste-Foy and Laurier Québec, is a leader in the Quebec City-area shopping centre market. The two properties offer a combined 171,000 m² (1.84 million ft²) of commercial area and a total of close to 400 retail outlets, representing the most complete range of stores in the region and a dominant hub of economic activity.

Work on the food court will start in the summer of 2015 and is being planned so as not to interfere with restaurant operations. The completion of the project is scheduled for the end of 2016.

About Ivanhoé Cambridge
Ivanhoé Cambridge leverages its broad expertise, investing in, operating and developing real estate properties and companies to deliver optimal returns for its investors. Through multiple subsidiaries and partnerships, Ivanhoé Cambridge holds assets located mainly in Canada, the United States, Europe, Brazil, Mexico and Asia, which totalled more than Cdn$42 billion as at December 31, 2014. Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec (lacaisse.com), one of Canada's leading institutional fund managers. For further information: ivanhoecambridge.com.

SOURCE Ivanhoé Cambridge

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