The company plans to renovate the property with World Gym as the only existing business currently confirmed to remain in the building, although there is still discussion going on with Sushi Heaven. World Gym will also undergo its own renovations, to reshape the space into a rectangle.
There are now plans to bring in a Loblaw No Frills discount supermarket and a Dollar Tree, with room for another smaller commercial space. A new free standing commercial building, or pad site, is also proposed for the corner of 100 Street and 98A Avenue.
Gary Fawley, Principal at PC Urban, believes having a big retailer like No Frills will help other smaller businesses in the mall as they feed off its traffic.
"These days a plaza needs good anchoring," he argues. "The small tenants find it hard to make it on their own, so the traffic that is brought in by the other tenants allow the small guys to actually thrive."
Renovations are scheduled to start in May or June, with a grand opening date expected in the first quarter of 2014.