VANCOUVER AIRPORT AUTHORITY (MALL); LARRY GOLDSTEIN (CANADA LINE) JUNE 2014 BCBUSINESS 21
V
ancouver Airport Authority
has begun construction on an
open-air designer outlet mall
that promises to be a regional
draw for locals and tourists
alike. "We think this is an oppor-
tunity to repatriate some of those
shoppers who are spending money in
the U.S.," says the authority's senior
vice-president of business develop-
ment, Tony Gugliotta.
The airport has partnered with
McArthurGlen Group, a European
developer and manager of retail out-
lets, and is currently negotiating with
luxury retailers and restaurateurs to
populate the centre for its planned
April 2015 opening. Along with dining
and shopping, the open-air village
model will provide opportunities for
live entertainment. "The objective
here is to make the designer outlet
centre an experience," says Gugliotta,
adding that developing an open-air
model was a conscious decision, fol-
lowing the current trend in retail that
is moving away from enclosed malls.
Revenue from the outlet cen-
tre—along with all non-aeronautical
revenue at
YVR—will be reinvested
into the airport, helping to relieve the
pressure to charge passengers and
airlines to help pay for running and
updating the airport. In 2012 non-
aeronautical revenue was $172.6 mil-
lion, exceeding aeronautical revenue
by $55.9 million.
In addition to being a signi cant
revenue source, the new centre will
boost
YVR's appeal as an international
destination. "We want
YVR to be a
premier airport, and airports today
are more than just terminal build-
ings," says Gugliotta.
■
Designing a
Destination
Airport shopping in
Vancouver is getting a
luxury injection for spring
2015
by Kristen Hilderman
R E T A I L
The centre will be located
next to Templeton Station
on the Canada Line, and
trips between the outlet
centre and the main terminal
will be free of charge.
Phase One of the
designer outlet centre is
set to open in April 2015,
with an estimated 100
stores and 22,500 square
metres of retail space.
OLD WORLD CHARM
As indicated in this rendering, the YVR
mall will feature an open-air plaza with
room for live outdoor entertainment.
p14-21-Frontlines_june.indd 21 2014-05-05 3:25 PM
