Latest news with #PuneetaMcBryan
CTV News
10-07-2025
- Business
- CTV News
Edmontonians ‘not surprised' as City Centre mall faces uncertainty
With dozens of stores shuttering their doors in City Centre mall over the last few years, the news of the mall going into receivership does not come as a surprise to many. 'It's been apparent for some time that the asset owners were really, really stretched and just not in a position to appropriately invest in the property,' said Puneeta McBryan, CEO of the Edmonton Downtown Business Association. While most shopping centres have struggled to come back from the COVID-19 pandemic, McBryan says City Centre has been experiencing challenges since well before then. 'Downtown shopping centres in general, let alone one as huge as ours, have been really challenged,' McBryan. 'Suburban shopping centres have really kind of taken over when it comes to where mall shoppers want to be.' CITYCENTRE Edmonton City Centre Mall is seen on July 10, 2025. (CTV News Edmonton/Nav Sangha) Edmonton City Centre Inc. (ECC) also owns three attached office towers – TD Tower, Oxford Tower, and Centre Point Place as well as building parkades – amounting to over a total of 1.4 million square feet in retail and office space. As of Monday, auditing and consulting service PricewaterhouseCoopers Inc. (PwC) is in charge of all the assets formerly held by ECC, according to a court order. This means PwC can take possession and exercise control over City Centre and what becomes of it. Typically, a receiver is appointed to take possession of and sell or liquidate assets in order to repay an outstanding debt. According to court documents, Montreal-based commercial real estate investor Otéra Capital Inc. submitted the application for receivership. CITYCENTRE Edmonton City Centre Mall is seen on July 10, 2025. (CTV News Edmonton/Nav Sangha) Retail analyst Bruce Winder said e-commerce has also been eroding the need for malls for years now. 'With Amazon, you can order a package and get it in seven hours … with that kind of convenience, do you really need to go to a mall anymore?' Winder told CTV News Edmonton. But for City Centre mall, COVID-19 was the nail in the coffin. Many businesses that lease offices in the area have employees working from home either full time or for part of their work week – this alone has decreased the amount of foot traffic through the mall, said Winder. 'It's not enough for a mall to break even when you have such a lack of volume.' Since 2020, the homeless population in downtowns across the country have skyrocketed – and Edmonton is by no means an exception. CITYCENTRE Edmonton City Centre Mall is seen on July 10, 2025. (CTV News Edmonton/Nav Sangha) 'There's heightened crime downtown,' said Winder. 'There's a lot of folks who are homeless downtown and not enough social programs to go around.' In 2023, marquee tenant SportChek moved out of the mall, prompting ECC to highlight the safety issues that were discouraging investment. Before the sporting goods giant left, other long-term tenants Holt Renfrew and The Bay kicked the bucket. The City of Edmonton's 311 office also moved. Ted Wright, who works in the nearby Enbridge Centre, said that what's happening to City Centre mall is a shame. 'It's a great facility for going to get something to eat, go to the movies,' said Wright. 'But given the change in appetite for online shopping, it's not really a surprise. But still, it's hard to hear.' With files from CTV News Edmonton's Nav Sangha.
Global News
02-07-2025
- Business
- Global News
Puneeta McBryan, EDBA CEO, steps down
It's the end of an era for the Edmonton Downtown Business Association as CEO, Puneeta McBryan, says goodbye. McBryan took on the role in December 2020 — in the midst of the COVID-19 pandemic — and has played a crucial part in sparking change in Edmonton's downtown and led many big projects in the core. For five years, McBryan has been a key voice for businesses in area, helping them succeed in a time of uncertainty. 'I feel like I probably burnt out in that first couple of years, and it's been a sprint for four and a half years, it just felt it's a good time to take a beat,' said McBryan. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy She's hoping to spend more time with her son and family. McBryan says she's proud of what's been accomplished during her term and highlighted a number of programs within service delivery, including the Downtown Shine Crew, the Hire Good Program and EDBA's Core Patrol. Story continues below advertisement She adds that in the future, she hopes the association will grow into a public-private partnership. 'Rather than having city administration, having some resources internally, and then us being over here as this tiny organization, I think we would be a lot more powerful as one combined entity,' said McBryan. 'We'd have so much more power, more latitude, definitely more resources, and I think you can then really empower that group to work on behalf of the city and the businesses to get a lot more stuff done.' McBryan will remain as CEO until a new one is chosen by the EDBA board.
CTV News
24-06-2025
- Business
- CTV News
Stanley Cup Playoffs brought big bucks to Edmonton, despite loss: Explore Edmonton
Explore Edmonton says the Oilers 2025 playoff run generated more than $266 million for the city's economy. While the Oilers may not have brought home the cup, their attempts brought home about a quarter-billion dollars. Explore Edmonton said the economic impact of this year's playoff run was 'pretty incredible' at $266.7 million. 'The impact of this run was seen, felt and heard in key markets across the globe for a two month playoff run,' said Amanda Krumins, Explore Edmonton's executive director of communications and marketing. 'And they weren't just watching, they were coming to town.' Krumins said the economic impact includes 80,000 overnight stays in Edmonton, as well as guest spending on transportation and food. It also looks at the impact on wages for locals who work and earn more during the playoffs. 'We have heard from bars, pubs, restaurants, hotels across the whole city that saw a surge in business, which really demonstrates how city-wide events can fuel local vibrancy and economic success,' she added. Puneeta McBryan, CEO of the Edmonton Downtown Business Association, said the playoffs have been a welcome boost for local businesses during what is normally a slump for downtown businesses. 'There's this really slow, hard period between Christmas and the summer,' McBryan said. 'The last few years, we've been incredibly fortunate to have this team bringing tens of thousands of people to our downtown multiple times a week, and it changes the dynamic … all we can do is hope that it's going to be a few more years of having these really deep playoff runs.' Explore Edmonton estimated the 2024 playoff impacts at $280 million. That means this year's per-game impact was actually higher, Krumins said, because there were three fewer games in the run. 'What we really experienced this year is that the playoff energy was city-wide. You didn't have to step foot in Rogers Place to really get that playoff spirit,' she added. 'There were fans in orange and blue from downtown to local pubs, to watch parties in people's living rooms, and that drove business and excitement across the whole town.' With files from CTV News Edmonton's Amanda Anderson
CTV News
24-06-2025
- Business
- CTV News
Puneeta McBryan stepping down from Edmonton Downtown Business Association
The CEO of the Edmonton Downtown Business Association (EDBA) is stepping down. Puneeta McBryan says she has mixed feelings about leaving the position. 'Five years feels like the right amount of time to do a role like this,' she told CTV News Edmonton on Tuesday. 'If you're doing it to the full extent of your ability, it can really be quite draining. We've been running flat out since I started in the winter of 2020. It's been a full sprint of downtown recovery.' McBryan says she's proud of the growth the EDBA has achieved during her term, including taking over the Downtown Farmers' Market. 'People might remember from before, it was a much smaller organization.' 'We've started doing a lot of big new things that I think fill a lot of gaps and help make a better downtown for everyone.' She says the next CEO, who will be chosen by the EDBA board, will face some of the same challenges she's been fighting during her tenure, including dealing with mental health issues, homelessness and social disorder. McBryan says she'll stay on until the new CEO is chosen.
CTV News
01-06-2025
- Business
- CTV News
New entertainment district open on 104 Street
Visitors to the Downtown Farmers' Market enjoy a live music performance. Dogs on leash are allowed to attend, too. (Galen McDougall/CTV News Edmonton) The City of Edmonton launched a new Entertainment District on Saturday. The new pedestrian-only space runs along 104 Street between Jasper Avenue and 104 Avenue. Visitors will find live entertainment, as well as food and drinks – including alcohol – they can buy and consume anywhere within the district. It will be activated during the Downtown Farmers' Market on Saturdays during the summer, between 10 a.m. and 3 p.m. 'The Entertainment District bylaw creates even more of a positive impact on the businesses bordering our public events like the Farmers' Market by allowing patrons to buy drinks inside and enjoy them out on the street,' said EDBA CEO Puneeta McBryan. 'This supports our efforts to create a vibrant place to live, work and play by supporting the restaurant sector and providing fun, exciting experiences for Edmontonians and visitors.' Edmonton's first entertainment district was opened last year on Rice Howard Way as part of a pilot project. It was awarded the 2024 Economic Developers of Alberta award for best renewal project. 'The addition of another District will infuse even more energy and enthusiasm into the heart of our city,' Tom Girvan, director of Downtown economy said. More information on the entertainment districts can be found on the city's website.
