Preston Crossing

Preston Crossing is a big-box retail power centre in Saskatoon, Saskatchewan, Canada. It occupies approximately 46 acres of land at Preston Avenue North and Circle Drive, with Preston Avenue serving as the principal route through the property. The centre was developed in connection with major road infrastructure work, including an overpass over Circle Drive linking Attridge Drive with a realigned Preston Avenue North. A secondary entrance also uses the former north–south alignment of Preston Avenue to provide access from eastbound Circle Drive. The land is owned by the University of Saskatchewan and was designated for commercial development. The university funded the initial construction of water, sewer, and roadway infrastructure, while retail tenants occupy the site under lease arrangements. Revenue from the land is directed to the university’s Land Endowment Fund, making Preston Crossing an example of university-owned land being used to support a long-term institutional investment program. Development was undertaken by Preston Crossing Properties Inc., a joint venture created by Calgary-based Rencor Developments and Saskatchewan companies Harvard Developments and TGS Properties. The development partnership handled the project’s financing, leasing, and construction. Its architectural treatment incorporated gothic elements intended to echo the visual character of University of Saskatchewan buildings, creating a stronger connection between the commercial property and its institutional landowner. Construction began in spring 2002, and the first stores opened in fall 2002. Early tenants included Future Shop, which relocated from Circle Centre Mall and was later converted to the Best Buy banner, and other large-format retailers. Canadian Tire moved to the centre in 2003 from its previous Centre Mall location. Walmart subsequently developed a replacement store at the property’s northwest corner; construction began in August 2004 and the store opened in January 2005, replacing the retailer’s Centre Mall location. The centre expanded through multiple development phases. By 2010, three phases had been completed, while a fourth phase had been announced. In 2005, Harvard Developments acquired sole ownership of the shopping centre from the original development arrangement, according to the available reference history. Further expansion planning accelerated around 2013 as Saskatoon experienced economic growth and low retail vacancy. The developer sought to remove restrictions on the size and categories of businesses permitted at the site. Those restrictions had originally been imposed because of concerns that a large-format retail complex could divert trade from established districts such as 8th Street, Broadway Avenue, and downtown Saskatoon. A fifth and final phase was agreed in 2014 and used the remaining developable land. The new buildings were completed by spring 2017, although the reference material notes that earlier full build-out had not yet been reached. Tenant composition has changed over time. Chili’s opened as a standalone restaurant beside Rona in 2008 but closed in spring 2018; an Olive Garden restaurant opened in the location in 2019. Shoppers Drug Mart, one of the original tenants, closed its Preston Crossing location in 2012 after approximately a decade of operation. The centre’s principal role is that of a Saskatoon destination for general merchandise, home improvement, automotive, grocery, apparel, restaurant, and outdoor-specialty shopping. Its large-format tenant mix, road access, and proximity to major arterial routes distinguish it from traditional enclosed malls and from the city’s older neighbourhood shopping districts.

Preston Crossing emerged from the redevelopment of University of Saskatchewan land near the intersection of Preston Avenue North and Circle Drive in Saskatoon. The project was closely tied to transportation improvements, particularly the construction of an overpass over Circle Drive that connected Attridge Drive with a realigned Preston Avenue North. The associated road network made the site suitable for a large-format retail complex and gave it access from several directions. The university designated approximately 46 acres for commercial use. Rather than selling the property, it retained ownership and leased portions to retail tenants. The university funded initial water, sewer, and roadway infrastructure, with lease revenue directed to its Land Endowment Fund. This structure allowed the institution to monetize strategically located land while retaining a long-term asset and creating an ongoing source of endowment income. Calgary-based Rencor Developments joined with Saskatchewan-based Harvard Developments and TGS Properties to form Preston Crossing Properties Inc. The joint venture was responsible for financing, leasing, and developing the centre. The architectural design used gothic references associated with University of Saskatchewan buildings, providing a visual relationship between the commercial development and the university-owned land. Construction commenced in spring 2002, and the first stores opened later that year. Future Shop was among the initial tenants, relocating from Circle Centre Mall; after Future Shop’s later disappearance as a Canadian retail banner, the space became associated with Best Buy. Canadian Tire relocated to Preston Crossing in 2003 from Centre Mall, where it had operated since moving there from Market Mall in 1986. Walmart then announced a new store for the northwest corner of the property. Work began in late August 2004, and the replacement store opened in January 2005, leading to the closure of Walmart’s former Centre Mall location. Harvard Developments acquired sole ownership of the shopping centre in fall 2005, ending the original joint-venture ownership arrangement described in the project history. Expansion continued in phases. Three building phases had been completed by 2010, and a fourth phase was announced that year. The tenant base combined essential and destination retail, including Canadian Tire, Rona, grocery, apparel, outdoor merchandise, general merchandise, and consumer electronics. The project’s growth generated debate about the relationship between large-format retail and Saskatoon’s established commercial areas. Earlier planning restrictions limited the size and categories of businesses permitted at Preston Crossing because of concerns that the complex could draw customers away from 8th Street, Broadway Avenue, and downtown. By 2013, favourable economic conditions and a low retail vacancy rate encouraged the developer to seek removal or relaxation of those restrictions so that the centre could continue to expand. In 2014, the developer reached an agreement for a fifth and final phase on the remaining available land. The resulting buildings were completed by spring 2017. The property’s business mix continued to evolve: Shoppers Drug Mart closed its location in 2012 after roughly ten years, Chili’s opened beside Rona in 2008 and closed in spring 2018, and Olive Garden replaced it in 2019. Preston Crossing functions as a suburban power centre rather than an enclosed shopping mall. Its identity is based on a concentrated group of large national retailers, convenient arterial-road access, extensive parking, and a broad mix of practical and destination-oriented shopping. Its development also illustrates how institutional landowners, municipal infrastructure investment, and private-sector retail development can combine to create a major commercial node on the edge of an established Canadian city.

• 2019

  Olive Garden opens

  [1]Preston Crossingen.wikipedia.org

  Olive Garden opened in the former Chili’s location.

• 2017

  Fifth-phase buildings completed

  [1]Preston Crossingen.wikipedia.org

  Buildings from the fifth phase were completed by spring 2017.

• 2014

  Fifth and final phase agreed

  [1]Preston Crossingen.wikipedia.org

  An agreement was signed to develop the remaining available land in a fifth phase.

• 2012

  Shoppers Drug Mart closes

  [1]Preston Crossingen.wikipedia.org

  The centre’s Shoppers Drug Mart location closed after about ten years.

• 2010

  Fourth phase announced

  [1]Preston Crossingen.wikipedia.org

  A fourth development phase was announced after three phases had been completed.

• 2008

  Chili’s opens

  [1]Preston Crossingen.wikipedia.org

  A standalone Chili’s restaurant opened beside Rona.

• 2005

  Walmart replacement store opens

  [1]Preston Crossingen.wikipedia.org

  A new Walmart opened at Preston Crossing in January, replacing the retailer’s former Centre Mall store.

• 2005

  Harvard Developments becomes sole owner

  [1]Preston Crossingen.wikipedia.org

  Harvard Developments gained sole ownership of the shopping centre in fall 2005.

• 2003

  Canadian Tire relocates

  [1]Preston Crossingen.wikipedia.org

  Canadian Tire moved from Centre Mall to Preston Crossing.

• 2002

  Construction and initial openings

  [1]Preston Crossingen.wikipedia.org

  Construction began in spring 2002 and the first Preston Crossing stores opened in fall 2002.

A suburban, large-format retail power centre serving Saskatoon and the surrounding region through a concentration of national chain stores, warehouse-style retailers, grocery, home improvement, automotive, outdoor, apparel, and restaurant tenants.

• Retail real estate · 2002

  Large-format retail units

  The core offering of Preston Crossing is leased large-format retail space arranged as an open-air power centre. Buildings accommodate national and regional tenants serving general merchandise, grocery, automotive, home improvement, apparel, electronics, outdoor recreation, and food-service needs. The site is designed around vehicle access, surface parking, and visibility from major roads rather than the interior corridors typical of an enclosed mall.

• Food service · 2008

  Restaurant and dining locations

  Preston Crossing has supported standalone restaurant operations alongside its retail buildings. Chili’s opened beside Rona in 2008 and closed in spring 2018. Olive Garden subsequently opened in the same general location in 2019, demonstrating the centre’s ability to accommodate destination dining as part of its tenant mix.

• 2019

  Restaurant tenant replacementProduct launch

  Background

  The Chili’s standalone restaurant at Preston Crossing closed in spring 2018.

  Action taken

  Olive Garden opened in the former Chili’s location.

  Aftermath

  The site continued to operate as a standalone restaurant location within the power centre.

  Source

• 2014

  Fifth development phase approvedStrategy

  Background

  Expansion planning continued after the centre’s earlier phases had been completed and additional retail demand had emerged in Saskatoon.

  Action taken

  A deal was signed to develop a fifth and final phase on the remaining available land.

  Aftermath

  The new buildings were completed by spring 2017.

  Source

• 2013

  Request to relax retail-use restrictionsStrategy

  Background

  Preston Crossing had been subject to restrictions on the size and types of businesses allowed at the complex because of concerns about competition with established commercial districts such as 8th Street, Broadway Avenue, and downtown Saskatoon. By 2013, economic growth and low retail vacancy encouraged further expansion planning.

  Action taken

  The property developer sought to have the restrictions on business size and categories lifted or relaxed.

  Aftermath

  The request formed part of the planning context for the centre’s continued growth and the later agreement for a fifth development phase.

  Source

1. 1Preston Crossingen.wikipedia.org
2. 2Preston Crossing official websiteprestoncrossing.com