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Storeowners received the keys to their shiny commercial spaces inside Calgary's biggest and newest shopping mall Thursday. New Horizon Mall, developed by Torgan Group and MPI Property Group, is signing over 40 new business a day this month, with more than 500 stores in the Asian-themed mall sold.
Unlike most shopping centres, the retail spaces are privately owned in a condo-style model that is the first of its kind in the province. Stores may be owner-operated or purchased by an independent investor and subsequently leased to a retailer. By the total number of businesses, New Horizon Mall is Canada's second-largest shopping centre, behind only the West Edmonton Mall.
Mirroring the success of Pacific Mall just north of Toronto, New Horizon will host an array of internationally unique goods, from contemporary clothing items to high-tech products. Mall programming will also include "culturally distinct forms of entertainment," with a main stage hosting events, fashion shows and holiday celebrations. And of course no modern shopping centre is complete without a food court, and New Horizon's serves up 26 restaurants on the menu.
"The New Horizon Mall is a unique addition to Calgary’s vibrant and entrepreneurial retail landscape," said Eli Swirsky, president of Torgan Group in a released statement. "Unlike other malls which are occupied primarily by large corporations and chains, New Horizon Mall will encompass a collection of small businesses, family enterprises and local entrepreneurs bringing unique products and services to the Calgary region."
