Cadillac Fairview and SHAPE Properties Complete CF Richmond Centre Mixed-Use Transformation in Richmond, B.C.

Cadillac Fairview and SHAPE Properties have completed a large-scale mixed-use redevelopment at CF Richmond Centre, transforming a 27-acre enclosed shopping mall in Richmond, British Columbia, into a high-density urban district that layers 1,116 residential units, more than 130,000 square feet of new retail space, public plazas, and a transit hub onto an existing enclosed shopping centre, the company announced July 6, 2026.

The project at 6551 No. 3 Rd. in Richmond adds seven new residential towers to the site and introduces an open-air retail high street alongside the legacy enclosed mall. The development is positioned adjacent to the regional transit network, enabling residents to connect to the broader city directly from the site.

Project Scope and Operational Model

The redevelopment required Cadillac Fairview to maintain full retail operations throughout the construction and delivery phases — a logistical challenge that the company says reshaped how the property is managed day to day. The site now operates on a 24/7 basis, with programming adjusted to accommodate late-night transit schedules and flexible hours for exterior restaurants and grocers serving residents living above the retail bays.

Maintenance protocols were also revised during the buildout. Disruptive work such as concrete sawing was shifted to daytime hours to limit noise impacts on residents in the towers above. The operational changes reflect a broader shift in how the property is managed — from a traditional retail center to what Cadillac Fairview describes as a mixed-use community.

The legal and operational frameworks required to manage shared infrastructure with partners including SHAPE Properties, new residents, and the City of Richmond added further complexity to the project's execution, according to the company.

Retail Performance Metrics

Cadillac Fairview reported that CF Richmond Centre's retail sales productivity increased from $1,359 per square foot in 2024 to $1,466 per square foot in 2025, representing approximately 7.9% year-over-year growth. The company said the asset maintained its position among Canada's most productive retail properties in the International Council of Shopping Centers rankings during the redevelopment period.

The property encompasses approximately 766,407 square feet of retail floor area and more than 200 stores and services, according to available data. The addition of residential density and transit connectivity is intended to support all-day foot traffic and reduce the property's reliance on traditional mall shopping patterns alone.

Leadership and Operational Transition

Julia Dow, General Manager, and Manisha Narang, Property Manager, have led the on-site operational transition at CF Richmond Centre, working in coordination with Cadillac Fairview's development, leasing, and operations teams.

"While the site evolves, my role is to ensure the centre continues to operate at a gold standard," Dow said in a statement. "I focus on keeping the business stable during disruption, empowering people to own their expertise, and protecting the tenant and customer experience."

Narang described the operational shift as a fundamental change in the property's function. "The site now supports two interconnected experiences: a vibrant retail destination and a livable neighbourhood," she said. "Operationally, our role is to establish the guidelines and service standards that allow both to coexist. Ultimately, the shift has been from operating a shopping centre to stewarding a community."

Cadillac Fairview said the project has also served as an internal training environment, bringing together professionals across property operations, development, and leasing to work through the challenges of mixed-use infrastructure management.

Broader Context: Mall Intensification in Canada

The CF Richmond Centre redevelopment reflects a broader trend among Canadian retail landlords toward mixed-use intensification at well-located mall sites, particularly those with direct access to regional transit. By adding residential density and public realm components to an established retail asset, Cadillac Fairview is pursuing a model that seeks to strengthen per-square-foot economics while capturing housing demand in urban and suburban markets.

The project does not involve a disclosed transaction price, cap rate, or financing terms, as the announcement pertains to a development completion rather than a sale or financing event.

"Our values-driven culture blends high performance and accountability with empathy and collaboration," Dow said. "What makes it unique is the depth of expertise across the organization and people's willingness to work together and share that knowledge."