Oxford Invests $28M in Yorkdale Shopping Centre Reno
Oxford Properties will invest $28 million to redevelop its Yorkdale Shopping Centre in Toronto.
The project will upgrade the enclosed mall’s main corridor and food court and is designed to meet demand from more than a dozen leading global luxury retail brands, Oxford said in a news release. Oxford did not identify retailers slated to move into the redeveloped corridor but indicated that some highly sought-after brands will launch their first Canadian stand-alone boutiques.
Existing central-corridor occupants were moved to other areas of the property to allow for the renovation over the next year.
Yorkdale’s Dine on 3 food court will be expanded to seat 1,200 diners. Nine new restaurant concepts will increase the eatery total to 23. The food court upgrade is targeting 18 million shoppers and 7,000 employees who work at the mall.
Retailers entering Yorkdale this season include clothiers Dolce & Gabbana and Ralph Lauren, Chinese jewelry brand Qeelin and women’s apparel seller Anine Bing.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.