New Dollar Store Coming to Portage

March 11, 2005
Canoe.ca
Written by: Angela Brown

Montreal-based Dollarama LP Inc. currently has more than 350 locations

PORTAGE LA PRAIRIE - Portagers will have a chance to shop more and pay less.

A new Dollarama store will be settling in to a new retail space west of Sobey's supermarket this summer.

"It's great news," said Coun. Ken Brennan, chairman of the city's planning and economic development committee. "It's an established chain and there will be new employment in Portage -- that's a bonus."

Brennan said the start of the new Dollarama store is a good sign for the city, as far as business development is concerned.

"It's good news for Portage and it will offset some of the bad news of businesses closing downtown," he said. "We look forward to seeing the building going up .... Now we have to concentrate on revitalizing the downtown."

It is expected the store will create about 25 new jobs.

Dollarama is currently known as Dollarama LP Inc. Private investment firm Bain Capital, a U.S. company based in Boston with more than $20 billion in assets under management and investments in several other Canadian companies, is reported to have bought a share of Dollarama from S. Rossy Group for $1.05 billion in November. Larry Rossy, president of S. Rossy Group, said the company is jointly owned by S. Rossy Group and Bain Capital, with Bain Capital having the majority ownership.

With about 360 stores to its credit, Dollarama is the largest dollar store operation in Canada.

Rossy said the owners are excited to be opening a new store in Portage. "It's a good market. We'll be well located," he said. "We're looking forward to it."

Rossy said he could not confirm an opening date as it depended on construction time-lines.

Robert Shindleman, vice-president of Shindico Realty Inc. which is based in Winnipeg, is the developer for the Dollarama project. He said he is excited about the venture which will be an asset to Portage.

"Portage will have the opportunity to enjoy Dollarama in the community, employment will be created and additional property taxes will be going to the City of Portage la Prairie by their being there," said Shindleman.

Shindleman said the retail space will be close to 1,080 square metres in size. He added there's room for another 1,800 square metres of expansion for other businesses.

"They would be attached, as a strip mall," Shindleman said. "There will be an opportunity for other retailers to join Dollarama on the site." However, Shindleman said there are no other new businesses confirmed for the site at this time.

"There are no plans until we have solidified plans for the rest of the development," said Shindleman.

Construction of the Dollarama building is set to be completed by the end of June. The store likely won't open for business until August. Shindleman said Dollarama will bring back the meaning of a dollar store to Portage.

"It's a true dollar store," he said. "Everything will be a dollar." Shindleman said the costs for the project won't be finalized until next month.

Pre-Con Builders, based in Winnipeg, is the general contractors for the new development.

Claude Gratton, project manager for Pre-Con Builders, said work on the construction of the outside structure of the Dollarama building has already begun.

"Next week, the concrete foundation will be started. The piles and rig are there now," Gratton said. "We will be finishing the pile driving and putting in the concrete beams for the outside structure." He said he expects the structural steel work to be completed by the end of March.

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