Cadillac Fairview is proposing to build 490 rental units in two apartment towers just steps away from Chinook Centre

Real estate giant Cadillac Fairview Corp. Ltd. is moving into the housing market with two new towers in Calgary — even as it deals with more than a dozen Hudson’s Bay-sized holes in its shopping malls across the country.

Salvatore Iacono, Cadillac Fairview’s chief executive, said Thursday that construction is set to begin this month on 490 rental units across a pair of towers just steps away from Calgary’s Chinook Centre, the city’s largest mall.

“The theme here is we have these great development sites across the country that are part of — or connected to — our incredible, successful shopping centers,” Iacono said. “Part of our strategy is to densify these sites so that

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