developer Tim Banks is the president of Pan American properties, and best known locally as the CEO of APM. Killam had already taken a 50 per cent stake in the mall with owner RioCan a few years ago, Banks said. Now, Banks and Killam have split the purchase of RioCan's shares, so Banks owns a 25 per cent stake alongside Killam's 75 per cent. Back in 2019 when Killam bought into the mall, they paid $23.7 million for 50 per cent. Tim Banks says the mall redevelopment will mesh well with new residential development in the area.

Source: CBC News June 10, 2021 17:37 UTC