Agreement could mean more choices for shoppers; opportunities for businesses

Another turn in Wetaskiwin’s economic roadmap will help bring the community closer to its goal of a more diverse economy.

Endurance Equities, a private development corporation based out of Edmonton, has entered into a binding agreement to purchase Wetaskiwin Mall from its current owners. The deal, expected to close in mid-February, could result in more choices for Wetaskiwin shoppers and great opportunities for businesses.

“This is good news for the region and a big step toward our goal to expand and diversify our economy,” said Bill Elliot, Mayor of the City of Wetaskiwin. “While this is a deal between two private companies, as a City, we have put significant time and effort into helping facilitate the process. It is something that has been in the works a long time and we are happy to see progress being made.”

The process of facilitating the deal began in the summer of 2010 with initial conversations between the City’s Economic Development department and Endurance Equities.

“The City has been fantastic to work with – Ron Holland is one of the best economic development officers in Alberta,” said Matthew Stokes of Endurance Equities. “It’s clear that Wetaskiwin wants more retail opportunities and I think that’s something that we can all agree on.”

As to its plans for Wetaskiwin Mall, Endurance Equities is optimistic.

“We see opportunity in Wetaskiwin. It’s an underserved market with plenty of room for growth,” said Stokes. “Once everything is finalized, our plan is to continue to run the mall and look to bring in more tenants and improve the shopping experience.”