Last Updated on October 24, 2023 by Duffie Osental
Property developer Cadillac Fairview (CF) and asset manager TD Greystone Asset Management (TD Greystone) have announced plans to revitalize major Toronto shopping centre CF Fairview Mall.
According to CF, an estimated $80 million will be dedicated to revamping 230,000 square feet of existing department store and other retail space to introduce more brands to the property; create a new row of restaurants; and improve pedestrian access to the nearby Don Mills subway station.
Construction is expected to begin this month with completion of the revitalization project is slated for 2023.
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CF and TD Greystone are also in discussions with city officials about rezoning the CF Fairview Mall site to accommodate additional, mixed-use density to meet the needs of the growing community. Future development plans may include residential, hotel, and office space along the periphery of the property.
“This area is undergoing many changes which reflect peoples’ desire to work, live, shop and dine in a dynamic, transit-connected mixed-use community,” said Wayne Barwise, executive vice president of development at Cadillac Fairview. “Our redevelopment plan is about diversifying CF Fairview Mall and the surrounding land so we can continue to offer a vibrant destination for people to come together and enjoy.”
“We are excited to be involved in the redevelopment of CF Fairview Mall, one of Canada’s premiere mall and shopping destinations in Toronto,” said Jeff Tripp, managing director of real estate investments at TD Greystone. “The mall’s strategic proximity to transit and nearby residential neighbourhoods is ideal for creating a unique experiential and service-oriented retail environment.”
Duffie is an award-winning writer and managing editor of Key Media’s Manila editorial team.
Originally a visual arts journalist, he has covered important international art events – including the biennales of Venice and Singapore and Art Basel – for various regional and global publications. He now contributes to Key Media’s diverse stable of business titles across different markets, including Mortgage Professional, Insurance Business, and The Educator.
