Those eager to see what's in store when the planned $400 million mega-mall near Balzac opens got a taste when developers unveiled details of the new project last week.

Dubbed CrossIron Mills by developer Ivanhoe Cambridge, the mall will feature over one million square feet of retail space and over 200 retail shops, including several anchor stores.

In addition to the traditional shopping centre, the project will also boast some features not normally associated with the retail shopping experience—namely, a state-of-the-art horse racing centre and concert stage.

"The Mills is a centre that we describe as having the best attributes of an enclosed shopping centre, a power centre, an outlet centre and entertainment venue,"said John Scott, vice president of development for Ivanhoe Cambridge.

"We're really building a destination and an attraction here."

The centre will mark the first appearance of several retailers to the province, including Holt Renfrew Last Call, Pro Hockey Life, Bed Bath & Beyond and one of the largest Bass Pro Shops in Canada.

The centre will be the first enclosed mall to be built within Alberta in the last 20 years—a statistic that Scott said is reflected in the positive response thus far from retailers eager to get in on the ground floor.

"We've had great reaction from the retail community,"said Scott. "That's shown in the fact that we have nearly 80% of the center pre-leased and yet we’re still 15 months out to our opening date."

CrossIron Mills is not the only new retail project currently underway in the city.

With the current $275 million expansion of Chinook Centre in the city's south, and the massive $3-billion Stonegate mixed-use development in northeast Calgary, it would appear if the race to draw consumers from Calgary's ever expanding population is on.

However, Scott says the company is confident in the allure of the new development.

"We're no strangers to the market," said Scott.

Ivanhoe Cambridge owns portions of several shopping centres across the country, including the Southcentre, Market, Sunridge and Deerfoot malls in Calgary. "In the end, retailers choose where they'e best suited to operate and be successful. This centre is going to draw from a great distance. In some respects there will be some competition, but it is a very unique development."

CrossIron Mills is scheduled to open in August 2009.

—Cody Stuart is a Calgary Real Estate News intern reporter.