RELEASE — We are excited to share that the long-awaited expansion of Rideau Town Centre has broken ground. Construction began earlier this month for a 22,000 square foot building with an opening scheduled for Spring 2021. We are also excited and proud to announce DOLLARAMA as the main tenant for this new expansion building, with a 10,000 square foot store.
In operation since 1992, DOLLARAMA is Canada’s most recognized value retailer, with well over 1,000 locations from coast to coast, and a household name shopping destination for general merchandise, consumables and seasonal items. Their presence at Rideau Town Centre will help complete an already thorough list of services that ranges from grocery, through health, financial, essential retail and food, with both quick-serve and dining options. Other occupants to the expansion building will be announced as they are confirmed.
Rideau Town Centre shopping plaza, 235 Gore Road, Kingston
The shopping plaza’s origins date back to 1998, and it’s been serving the Rideau community faithfully ever since. Located at the heart of the Rideau residential community, anchored by grocer Valu-Mart and by financial services specialist TD Canada Trust, the plaza is the community’s established destination for food, financial and health services. In November of 2016, the plaza was purchased through a Limited Partnership initiative of M+H PROPERTIES GROUP INC.
This new retail development phase is another cog in the business development plan for the plaza, which aims to confirm and increase its role as the community’s premiere retail and service destination. The City of Kingston has been very supportive in helping Rideau Town Centre ownership apply their vision to the plaza’s new development, underlining the municipality’s own vision for their growing community.
About M+H Properties Group
A Private Equity Real Estate Investment and Asset Management firm, M+H offers qualified investors opportunities to invest directly in revenue-producing real estate projects through a structure of Real Estate Limited Partnerships (RELPs). M+H sources and purchases properties through debt instruments and sells participations to investors through Limited Partnership Units. M+H manages the properties with the goal of providing both annual cash distributions to its Unit holders from property income, as well as increased asset value through expert value-add asset management that would translate into an increased Unit value on future disposition of the property. M+H’s acquisition focus is on value-add mixed-use retail community and neighbourhood centres in regional growth markets, as the Executive Team has substantial experience in commercial real estate, and more particularly in the value-add retail sector.
Release | images source: mhgroup.ca