Many malls across Canada are becoming mixed-use spaces. What’s driving the shift?
Cloverdale Mall in Etobicoke, Ont., is undergoing a revitalization that will transform the shopping centre into a mixed-use community hub.Long before the economic fallout caused by the pandemic, the death knell for malls rang loud. But despite tough times for retailers, many legacy shopping malls are being revitalized, rather than torn down, thanks to designers’ and developers’ reimagining of these staid spaces.
A global leader in property management and investment services, JLL has assets in all building classes – from industrial to commercial, residential and retail. According to Mr. Parr, in a hybrid environment where people live, work and play, meeting and servicing clientele through a variety of experiences and services is key to attracting investment – a reality that rings true across sectors.
“This is a unique opportunity to reimagine Cloverdale and bring a cherished property into the 21st century,” says Aaron Knight, senior vice-president of development at QuadReal. “For many, this mall is still the heart of central Etobicoke. Our goal is to make sure it remains a hub for this community, but also delivers all the amenities that an urban suburb of Toronto now requires.
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