Ivanhoé Cambridge, the real estate investment arm of the Caisse de dépôt et placement du Québec, has announced a $60-million investment to enhance the Laurier Québec shopping mall in Quebec City.

Laurier Québec holds a dominant position in the region, and we are very pleased to invest in its modernization,” said Claude Sirois, president of retail at Ivanhoé Cambridge, in a press release. “This initiative is part of Ivanhoé Cambridge’s strategy of investing in its shopping centres to maintain and strengthen their competitive positioning in their respective markets. This investment is all the more significant in one of Quebec City’s most competitive hubs: Laurier Boulevard.”

The redevelopment will enable the mall to offer better retail rental spaces and will include a revitalization of its public areas. The new capital follows an investment of $18 million to update the mall’s food court. Sales at the food court have jumped 14 per cent since the renovation, according to a press release from the company.

As well, the parking facilities will see updates, including brighter lighting and a digital sensor system that will inform drivers of available spaces.

Read: Ivanhoé Cambridge to invest $200M in Montreal real estate project

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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