Fears of a recession and turmoil on the markets have not impacted a massive redevelopment in the downtown core.
The Core is a large shopping destination that, when it's complete, will cover blocks of Stephen Avenue, encompassing TD Square, the Eaton Centre and the former Sears building.
Despite the volatility of the markets and concerns about personal spending, The Core is moving full steam ahead. "We're not planning any moderation of any changes to downgrade the scope of the development. It's full steam ahead as per our original plans," says Domenic Mazzocchi from 20 VIC Management Inc.
Mazzocchi says they are not having any problems attracting retailers from Canada, the U.S. or internationally. "Many retailers, particularly those in the U.S., continue to look at Calgary as kind of like a safe haven for them to open stores in and expand into," says Mazzochi.
Once it's complete, The Core will have the world's largest skylight which spans three city blocks.
The Core is scheduled to be complete by the fall of 2010.
