An investment of $28 million will redevelop Toronto’s Yorkdale Shopping Centre, resulting in the renovation of a key corridor and food court to create room for more luxury brands and new restaurants.
The investment comes from the Oxford Properties Group (Oxford), a global real estate investor, asset manager, and developer.
More than 274 m (900 ft) of hoarding has been installed in the central corridor, which will soon be home to sought-after brands launching their first Canadian standalone boutiques. Stores have already been relocated from the central corridor to other areas of the property to allow for this major renovation project which is to take place next year.
The first brands to open in the renovated corridor will be announced later this year. New retailers opening outside the central corridor this season include Dolce & Gabbana, World of Ralph Lauren, Chinese jewellery brand, Qeelin, and the popular women’s fashion brand, Anine Bing.
The renovation of Yorkdale’s food court, known as “Dine on 3,” is another key redevelopment designed to accommodate the 18 million shoppers and nearly 7,000 people who work at the property. The enhanced Dine on 3 includes expanded seating for 1,200 diners and nine new restaurant concepts, bringing the total to 23 eateries.
“Over the past decade, our strategic approach to attracting the most iconic global brands has led Yorkdale to having the largest collection of luxury retailers in Canada. By investing and renovating our space, we are making room for more of the world’s leading brands, as well as enhancing and expanding our dining options to cater to both shoppers and employees,” says William Correia, director, Yorkdale Shopping Centre. “The momentum is evident as we renovate significant spaces and reposition stores to meet the demand of brands and shoppers.”
