A Massive New Mall Just Opened In Canada And Locals Are Saying It's A Huge Failure
The mall is almost completely empty.
Canada is home to a super innovative, and not to mention massive, new mall. New Horizons Mall just opened up outside of Calgary, Alberta, with 500 stores and a super modern design.
On their website, the mall boast's it's all glass storefronts as a window shopper's paradise and claims to be a "retail revolution" and a "visionary experience." There's one problem though, the place is a ghost town.
Despite officially opening for business in the summer, New Horizons is pretty much empty. Almost all of the 500 stores remain uninhabited, and that's partly due to New Horizon's business model.
Instead of stores renting out space from the mall itself, New Horizon's is more like a condo. Business owners and investors were invited to buy stores in building and they can either open up their own shop or lease the space themselves.
This new model is pretty revolutionary for the mall industry but for customers, it means nothing right now. Even though all of the 500 + units in the mall were bought in the spring, the majority of the stores remain empty because there is no one renting them yet.
There are a couple businesses already up and running though, like Korean B&H, a beauty store that was the first to open in the mall. Since each unit is individually owned, the owners actually get to decide when they open so no one knows how long it will be empty.
The lack of activity in the supposedly open mall is prompting locals to refer to the massive development as a failure. While some people have said it will be a problem if the mall isn't half-full by Christmas, New Horizons is holding out hope.
Though they are already open with regular hours, New Horizons is having a formal grand opening later in the fall, on October 27 and is hoping to have many more stores up and running before that date.