Canada Housing Market

Toronto’s malls are undergoing significant transformations, and these changes could have a notable impact on the residents of Ontario. As new development opportunities take the spotlight, the traditional landscape of brick-and-mortar retail is facing challenges.

Rising property values and the increasing popularity of online shopping are two major factors that pose a threat to the existence of the classic low-rise, car-centric malls in Toronto and its surroundings. In addition, the province is actively promoting transit-oriented communities in areas well-served by rapid transit, and this shift has made SmartCentres Eglinton West, also known as Westside Mall, a prime location for substantial redevelopment.

SmartCentres, the owner of Westside Mall, initially proposed the mall’s redevelopment in 2021. Their vision included a multi-phased community with eight towers that would replace the existing shopping plaza gradually, allowing businesses to continue their operations during the redevelopment process.

Fast forward two years, and the SmartCentres Eglinton West project is still navigating Toronto’s planning and approval procedures. The latest set of plans for this expansive site was submitted in early October.

The proposed master plan, designed by Turner Fleischer architects, divides the mall into six sections, each to be developed with eight towers, a pair of mid-rise buildings, new public streets, private driveways, and several public spaces, including a plaza, two parks, and a pedestrian mews. The tower heights are expected to range from 24 to 60 storeys, providing a total of 4,045 residential units across the site.

While some locals may have concerns about losing community staples like the current FreshCo store within the strip mall, the plans include a significant food store covering 43,373 square feet (4,029.5 square meters).

The transformation may not appeal to everyone, but Westside Mall’s strategic location, right next to the planned Caledonia GO station on the Barrie GO Line and the upcoming Caledonia LRT station on the Eglinton Crosstown line, makes it an ideal candidate for intensification. When these towers are completed, residents in the area will enjoy improved connections across the city and the broader region through these new GO and TTC stations.

Despite the excellent transit options, the developer has decided to include a substantial 2,106 parking spaces in the development, accommodated within a three-level underground garage. This decision is based on 2016 auto-ownership rates for condos in the surrounding area, which averaged 0.35 vehicles per household. It’s expected that these rates will decrease as new transit connections become available.

Notably, other malls in Toronto and its surrounding areas are also undergoing planned or active redevelopment, with Westside Mall being just one of them. These malls include Scarborough Town Centre, Yorkdale, Sherway Gardens, Fairview Mall, the ongoing redevelopment of Galleria Mall, Yorkgate Mall, Jane Finch Mall, Agincourt Mall, Atrium on Bay, Dufferin Mall, Centrepoint Mall, Cloverdale Mall, and Malvern Town Centre. Additionally, several malls outside the city are targeted for significant changes, such as Square One, Bramalea City Centre, Dixie Outlet Mall, and the Sheridan Centre.

Source and images: www.blogto.com