YVR luxury mall opening on schedule

The luxury outlet mall at Vancouver International Airport is apparently set to open on schedule, say the developers, who are opening their first shopping centre outside of Europe. They’re busy finalizing a list of what they are calling “designer tenants.”

The McArthurGlen Designer Outlet’s manager, Robert Thurlow, told The Vancouver Sunthat the YVR luxury mall is a unique offering in North America, because the attention to architectural detail here is unparalleled.

“It will feel like you’re walking down cobbled streets, opening up in a piazza with cafes and outdoor seating,” he said, “It will feel very different to what I would call a traditional square box mall.”

He said that diners can expect something more than the usual national chains at the airport, too. “We don’t do the kind of regular food and beverage players,” he said. “We really try to work with local people … who are maybe opening up their second restaurant … rather than going with the national chains that people can get at any mall.”

Families and Fashionistas

Developers aren’t naming any tenants for now, due to legal agreements, but Thurlow insists that the distinctive mix of “luxury, premium lifestyle brands and entertainment” would appeal “families and fashionistas” alike.

The Vancouver Airport mall will be the firm’s first project outside of Europe, where they lead the luxury outlet market. according to Thurlow. “This seemed like an absolutely natural fit,” he said, “certainly partnering with YVR, but also in the location of Vancouver.”

Phase one of the mall is scheduled to open late this spring, and will offer 240,000 square feet of shopping and services. Phase two will bring another another 140,000 sq. ft. of retail space and will open 18 to 24 months after the initial opening. The mall will house for a total of 80 stores, said Thurlow.

The mall is located two SkyTrain stops for the YVR passenger terminal at Templeton station. Thurlow said it would draw in travellers coming to and from the airport. He mentioned comments made at the Vancouver Board of Trade’s 2015 Aviation Forum by YVR president and CEO Craig Richmond, who said YVR expects to handle an additional five million passengers by 2020.

“We’ll have an additional five million people in five years, on the doorstep at YVR,” Thurlow said. “It’s perfect for us, given our location, and the fact that YVR is a joint venture partner.”

Craig Patterson, the founder and editor-in-chief of Retail Insider, said that despite the luxury atmosphere of the mall, not all of the brands on offer would be high-end.

“The majority of brands would not be considered luxury brands,” he said, “The mall is going to appear far more upscale than other outlet malls in Canada.”

Patterson confirmed that Polo Ralph Lauren and Georgio Armani would be among the tenants at the mall, and The Vancouver Sun confirmed that Secret Location, a lifestyle boutique and tasting room in Gastown, would be opening another location at the YVR mall.

Patterson noted that luxury shopping experiences are quickly becoming a trend at Canadian airports. Similar efforts are underway at Edmonton International and Toronto’s Pearson International Airport.

“It’s an interesting play that airports are beefing-up their retail, and that they’re utilizing their real estate for commercial purposes,” he said. “It’s encouraging, and it’s a trend we’re seeing across the country.”

Patterson asserted that “there’s no question” that YVR’s high-end shopping situation at the terminal is the leader in Canada.

Thurlow expects the mall to benefit from the low Canadian dollar.

“We have American consumers whose dollars now go much further coming into Canada, and they certainly want to take advantage of the better exchange rate,” he said. “And I think conversely, that also keeps the Canadian consumers in Canada.”