Sears reaches site development deal

CALGARY — Sears Canada has entered into an agreement with Concord Pacific Group to develop the 12-acre Sears site  at the North Hill Shopping Centre in Calgary.  Closing under the agreement is conditional upon satisfaction of conditions such as site investigations and obtaining the approval from the City of Calgary for the project, all of which are expected to take some time. The infill project is expected to consist of residential high-rises, with plans for a possible retail component built in.