APM Plans new mall in city

He won't say who the anchor tenant is but Tim Banks confirmed Thursday an up-and-coming construction project is underway in Charlottetown.

The chief executive officer of APM says the development will be called the Northcom Business Centre and will be a service mall to house 10 new tenants, giving Charlottetown and Sherwood more options for incoming businesses.

The business centre will be built on the former Shamrock Truss land, located at 410 Mt. Edward Road. Demolition of the two older buildings is underway by Bulldog Construction, who were the lowest bidders for that phase of the project. It will cover a total of 2.2 acres and host 10 units for potential businesses such as retail, light manufacturing or offices.

Banks said the mall will measure 35,000 square feet with the anchor tenant taking up 8,000 square feet.

All he would say about the anchor tenant is that it is "a national tenant'' and that they would be making the announcement likely in November.

"It will be ready for occupancy March 1.''

"We have already had quite a bit of interest from tenants already," - Developer Tim Banks
Banks said he is especially pleased about the investment possibilities that will come to P.E.I. with this new development.

"There is huge potential for this business development. The units are on the ground floor and will be built to suit for potential clients. We have already had quite a bit of interest from tenants already."

APM is completing this project for a private vendor who has purchased the property from the developer, but the company will design, build and be responsible for leasing the units.

Banks said the project will create more jobs for the sub-contractors of P.E.I. with the second phase of the project.

"APM is going to bring something brand new to the Island," said Banks. "Tenders for the second phase of construction will be out soon and I am proud to generate more work for the quality sub-contractors on the Island."

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