Nearly vacant mall in Riverview, N.B. to get drastic new look

Riverview, N.B., shopping mall bought by developer A real estate developer has purchased the declining Riverview Mall in Riverview, N.B., with plans to redevelop.

It’s not the thriving community hub anymore, but things are looking up for the old Riverview Mall.

Maritimes-based real estate development companies Tier Too Properties and The Gray Group officially purchased the 151,896 square foot Riverview, N.B. building last month.

It’s pretty quiet inside right now though.

Town of Riverview Economic Development Manager Shanel Akerley said approximately 65 to 75 per cent of the mall is vacant.

“The mall was once a great happening place in Riverview that used to host a movie theatre, a pharmacy, retail. We’re looking to have them bring back to life,” said Akerley.

According to Akerley, the developers have a strong portfolio in the region.

“They’ve acquired similar diamond in the rough commercial properties in places like Truro, Amherst and P.E.I.,” said Akerley. “We’re really excited to collaborate with them in Riverview.”

Trevor MacLeod, the Gray Group president, feels the large piece of land could be the centre of the community, but is being underutilized and ignored.

“We see probably taking down a large portion of what’s existing there now. We see probably a mixed-use development with some multi-tenant residential there, but also creating some new commercial [space] as well,” he said.

MacLeod said a leasing coordinator has been on site and met with all the tenants.

“We’ll honour all of the existing leases, no question,” said MacLeod. “Long term, who knows? As we change the mall it’s going to change the dynamics of who is in there and what happens, so there’s no certainties long term, but we certainly intend to fully honour all the existing leasing agreements until the terms come to their expiration.”

Pamela Dykeman Stephenson, owner of Physio in Motion, is one of those tenants.

She said it’s exciting to see the building will be revitalized.

“But at the same token it’s a little bit unnerving because we really haven’t been told much of anything about the plans,” said Dykeman Stephenson.

MacLeod said any demolition that will take place will not impact any of the current tenants.

Dykeman Stephenson hopes the new-look mall will contain a lot of the things that are missing in New Brunswick in terms of health care.

“There used to be medical offices in the building. It would be nice for Riverview residents to be able to access more health-care services in Riverview because people in Riverview are very loyal to Riverview,” said Dykeman Stephenson. “They will support their community.”

Riverview resident Shelley Rogers would like to see a store like HomeSense or Winners come to the mall.

“It would take a lot of people that you know normally have to go right into Moncton from Salisbury, the rural areas that are out there,” said Rogers. “Instead of going to Moncton to fight through all the traffic, why not come to Riverview?”

Connie Bartlett is a member of the Moncton Bridge Club which is located by the main entrance.

“I would like to see our bridge club stay without any increase in rent and I’d like to see a more accessible washroom,” said Bartlett.

Marjorie Hanson has a simple wish.

“I’d love a ladies shop. A ladies dress shop. That’s my first and only wish,” said Hanson.

The hope is some demolition will start this fall, or possibly in the spring.