Editor:
It's a year since Tsawwassen First Nation's grand announcement. Mega Malls! Opening in 2016! Anchors include Walmart, Rona and Bass Pro Shops!
So how're they doing?
Tsawwassen Mills is becoming an impressive structure. Highways are being widened. Tsawwassen Commons seemed late in starting, but what I assume is foundation work is now evident.
Progress in securing retail tenants seems much less clear. A Tsawwassen Mills website, http://www.tsawwassenmills.ca/faq, answers frequently asked questions. A question regarding how many tenants have been secured yields this response: "Discussions around leasing are progressing quickly for Tsawwassen
Mills and we are pleased to announce that the first Bass Pro Shops in British Columbia is coming to Tsawwassen Mills as one of our marquee anchor tenants. We will continue to provide updates as new agreements are finalized."
Tsawwassen Commons may be doing no better. A May, 2014 Optimist article reported: "Property Development Group ... told the LBA meeting that a third large tenant [beyond Walmart and Rona] would be announced in two months." It's nine months and I've seen no announcement.
Tsawwassen Commons launched its website: http://tsawwassencommons.ca/ It's a timer counting down to a January website unveiling. It stopped in January - as it did in December, November, October and, if I recall correctly, September and possibly August. There's still no unveiling.
Meanwhile, TFN took out a $40 million loan to pay for a sewer plant and roads for malls and other developments. Delta council approved $36,500 for a consultant to help come up with ways to ensure South Delta businesses can survive the Tsawwassen First Nation's mega malls.
I know little about the retail business and nothing of TFN's deal with the malls, but wonder if an apparent failure to report a single new tenant beyond three announced more than a year ago forebodes trouble?
Surely not for South Delta businesses, but for TFN? I hope not.
Ed Ries
