Mall now 53 per cent leased as 3rd and largest anchor tenant to open in fall of this year
February 27, 2020 – BALZAC A.B. – New Horizon Mall, a marketplace collective of entrepreneurs, artisans and fresh market vendors, announced today the official signing of Sky Castle, Calgary’s newest family entertainment centre and the Mall’s third and largest anchor tenant.
Occupying 34,000 square feet on the second floor of the Mall and featuring climbing zone, little kids mini-town, mini-carousel, snow castle, Ferris wheel, donut slide and multi slides, toddler jumping zone, castle stage, and interactive games, Sky Castle represents a large investment in Calgary’s economy and is the vision of a local businessman, who has signed a long term lease with New Horizon Mall.
“Sky Castle is a game changer for New Horizon Mall. There was a lot of interest in this space from many different organizations but we wanted a strong anchor tenant that will attract shoppers and families and we are ecstatic to have Sky Castle on board,” says Ross Cannata of New Horizon Mall Inc., the company formed by the developers of the mall to manage the 114,000 square feet of space it owns.
Sky Castle is the third and largest anchor tenant at New Horizon Mall and will open in fall of this year. It joins anchor tenants Prairie Horizon Fresh Market, North Calgary’s largest indoor fresh market, and the Best Shop, a 15,000-plus square foot department store featuring unique products and value prices.
New Horizon Mall Inc. owns 30 per cent of the retail space at the marketplace and now has 86 per cent of this space leased with another 7 per cent that is currently under negotiations for additional retail usage. With 3 anchor tenants and more than 100 stores open, approximately 110,100 square feet is now leased and New Horizon Mall is now 53 per cent leased (total retail space available is 204,975 square feet).
As Alberta’s first condo mall, stores were sold and owners either operate their own store or lease to another store operator. 98 per cent of the total retail space has been sold. New Horizon Mall had a slow start and continues to be a work in progress but it is moving in the right direction. Construction of New Horizon Mall was completed by Ledcor Construction in 2018 and was fully funded.
A condominium board was set up to run New Horizon Mall and to represent all unit owners. An onsite management team is employed by this board to manage day to day operations and headed by General Manager Scott Smith.
“New Horizon Mall is here to stay. The developers have stepped up with initiatives promoting the mall, leasing incentives and we now have 84 per cent of our space leased and challenge all owners to follow suit by opening up their stories,” says Ross Cannata, New Horizon Mall Inc.” With more than 53 per cent of all retail space in the mall leased, Prairie Horizon Fresh Market opening in early March and a massive family entertainment centre New Horizon Mall now has significant momentum.”
New Horzon Mall is located in Rockyview County where there is no business tax and low Provincial and Corporate Tax. More information on the leasing program is at: https://newhorizonmall.com/leasing/
“We are creating a community of local entrepreneurs and small businesses. The Sky Castle family entertainment centre (FEC) will be welcomed by our community,” says Scott Smith, general manager of New Horizon Mall.
No further details on Sky Castle are available at this time as the owner is currently out of the country and the Mall is only authorized to announce the details above. A news conference with the owner is being planned in the next few months to provide more information on Calgary’s newest family entertainment centre.