Fall 2016 will deliver a total of 420,000 square feet of new retail space with the simultaneous opening of two new wings
TORONTO, April 22, 2015 /CNW/ - Yorkdale Shopping Centre is once again demonstrating its leadership in the Canadian retail space with the announcement of a 120,000 square foot renovation on the centre's west side. This West Renovation is the newest development at Yorkdale and will see former department store space renovated to serve as the Canadian flagship locations of leading retailers, the first of which to be confirmed is luxury home furnishing brand RH (Restoration Hardware).
RH's latest design concept is expected to be the company's largest Gallery in Canada to date, featuring four levels and a total of more than 69,000 interior and exterior square feet. Other flagship stores that will open in this renovated wing will be announced in the coming months.
"We're delighted to be creating one of Canada's greatest shopping centres by giving shoppers access to some of the most extensive brands," said Claire Santamaria, General Manager, Yorkdale Shopping Centre. "We're building on a great deal of momentum and Fall 2016 will give our shoppers an unprecedented breadth and depth of retail options."
The West Renovation will be complete within months of a new 300,000 square foot East Expansion wing that is being built to accommodate Nordstrom and another 30 boutiques. Construction on the 300,000 square foot East Expansion began in January 2014. Once complete, it will house a 190,000 square foot Nordstrom and 30 additional boutiques, including popular Japanese retailer UNIQLO.
The East Expansion is scheduled for completion in August 2016 and the West Renovation is scheduled to be complete in November 2016.
A Canadian Retail Leader
The current developments come hot on the heels of a stellar year for Yorkdale's retail offering. In 2014, Yorkdale served as the retail center of choice for world-renowned brands entering Canada for the first time, including Versace, Jimmy Choo, Moncler, BVLGARI and Mont Blanc.
Owned by Oxford Properties Group and AIMCo, Yorkdale Shopping Centre has undergone four major renovations since opening in 1964. Most recently, Yorkdale Shopping Centre completed a $220 million dollar expansion in 2012. The shopping centre has continued to improve its facilities and today serves as the unrivalled gateway for international retailers entering the Canadian market.
About Yorkdale Shopping Centre
With more than 250 shops and services Yorkdale Shopping Centre is Canada's premier shopping destination. Construction is underway for Yorkdale's $331 million expansion that will add nearly 300,000 square feet of retail space and bring its total size to 2 million square feet. This expansion makes it possible to bring an even wider selection of the world's best fashion, technology and luxury brands to the Greater Toronto Area. Offering valet parking and seating reservations at the Dine on 3 food collection, everything about Yorkdale is designed to enhance shoppers' experiences. Yorkdale is co-owned by Oxford Properties and Alberta Investment Management Corporation (AIMCo) and managed by Oxford Properties Group. Yorkdale is located at 3401 Dufferin Street, off Allen Road, near the 401. For more information, download the Yorkdale app, visit www.yorkdale.com, or follow @YorkdaleStyle on Twitter, Instagram, Facebook or Pinterest
About Oxford Properties
Oxford Properties Group is a global platform for real estate investment, development and management, with over 1,400 employees and over $33 billion of real assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford has regional offices in Toronto, London and New York, and the company's portfolio includes approximately 50 million square feet of office, retail, industrial, multi-family and hotel properties. Oxford is the real estate arm of the OMERS Worldwide Group of Companies. For more information about Oxford, visit: www.oxfordproperties.com.
About Alberta Investment Management Corporation (AIMCo)
AIMCo is one of Canada's largest and most diversified institutional investment managers. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates independently from the Government of Alberta and invests globally on behalf of 28 pension, endowment and government funds in the Province of Alberta, including the Alberta Heritage Savings Trust Fund. For more information about AIMCo, visit www.aimco.alberta.ca.
SOURCE Yorkdale Shopping Centre
For further information: Media contact: Jeri Brown, Media Profile, 416-342-1842, firstname.lastname@example.org