Yorkdale Shopping Centre Announces $220 Million Expansion

TORONTO, Jan. 25 /CNW/ - Canadians wanted it and now they have it: more of the world's top brands available to shop right here on home soil, thanks to an exciting new  $220 million expansion that will add more than 145,000 square feet and 40 new stores to Yorkdale.

Construction will begin this month and is set to be completed by late 2012, with a shopper's dream of flagship stores and a number of 'first to market' brands. Yorkdale is expanding to inspire and will welcome retailers from all over the globe to join the existing 225 stores and services at Canada's premier shopping destination.

"We're expanding thanks to the strength and success of the existing shopping centre and strong tenant demand for space," says Anthony Casalanguida, General Manager, Yorkdale Shopping Centre.  "Not only are we bringing an amazing array of new brands to Yorkdale, but this expansion will also bring employment opportunities to the GTA, both during the construction phase and once retailers open."

In addition to adding new retail stores, Yorkdale's food court will now re-locate to the vacant third floor level of the former Eatons store and will offer double the number of seats and additional new restaurant options. Including a brand new patio and skylights, the new food court will also reduce waste by 85 per cent with reusable tableware.

Already certified as a Go Green Plus building through BOMA (Building Owners and Managers Association) in 2008, Yorkdale Shopping Centre remains committed to sustainability. This expansion will feature the same sustainable technologies that are implemented in the existing facility, including a 65,000 square foot green roof, which will extend roof lifespan and reduce atmospheric heating. This growth will make Yorkdale eligible for silver certification in Leadership in Energy and Environmental Design (LEED).

The expansion also includes more than 800 new underground parking spaces, as well as a new valet parking area.

As part of its expansion, Yorkdale will be making contributions to support local neighbourhood revitalization. These contributions will allow for the design and construction related improvements to public access at the east end of Yorkdale Shopping Centre centre and Yorkdale Park including an enhanced landscaping plan. In addition, Yorkdale will be contributing to the Yorkdale Community Arts Centre.

In 2005, Yorkdale Shopping Centre completed a $110 million dollar expansion which saw growth in customer traffic and sales volume, making 2005 the most successful year in all of Yorkdale's preceding years. Since then, Yorkdale Shopping Centre has continued to grow and improve its capabilities, including the centre's award-winning greening initiatives.

About Yorkdale Shopping Centre
With more than 225 shops and services including Tiffany & Co., Burberry, Crate & Barrel, Apple, Holt Renfrew, Hugo Boss and Zara, Yorkdale Shopping Centre, which is managed by Oxford Properties, is Canada's premier fashion destination. Yorkdale is owned by Alberta Investment Management Corporation (AIMCo), on behalf of its clients, and Oxford Properties Group. Dedicated to sustainability, Yorkdale's 1.45 million square feet has received more than a dozen prestigious awards and recognition for creating a balance between sustainable environmental programs and a unique shopping experience since 2001. In 2007, Yorkdale was awarded the BOMA Go Green Plus Certification with it dedication to sustainable design. Yorkdale is located at 3401 Dufferin Street, off Allen Road, near the 401. Yorkdale is also accessible via TTC, located on the Spadina subway line. For more information visit www.yorkdale.com.  

About Alberta Investment Management Corporation
AIMCo is one of Canada's largest investment management firms, with total assets under management of $70 billion.  It was established on January 1, 2008 with a clear mandate to provide superior long-term investment results for its clients. AIMCo operates independently from the Government of Alberta and is responsible for managing the investments of certain Alberta public sector pension plans, endowments and government funds, including the Alberta Heritage Savings Trust Fund. For more information about AIMCo, visit www.aimco.alberta.ca.

About Oxford Properties Group
Oxford Properties Group celebrated its 50th anniversary in 2010 and is one of North America's largest commercial real estate investment, development and management firms. Oxford oversees and manages approximately C$16 billion of real estate for itself and on behalf of its co-owners and investment partners including headquarter buildings and development projects such as the Royal Bank Plaza in Toronto, the West Side Yards in New York, Watermark Place in London and Centennial Place in Calgary, and major shopping centres including Yorkdale, Square One and SouthCentre. Oxford's investments include office, retail, hotel, industrial and multi-family residential properties. Oxford is the real estate arm of the OMERS Worldwide Group of Companies. For more information visit www.oxfordproperties.com.

SOURCE Yorkdale Shopping Centre

For further information:

For more information on Yorkdale Shopping Centre, please contact:
Alana Lipton
W. 416.849.1114
C. 416.716.1552

For more information on AIMCo, please contact:

Shauna MacDonald
Brookline Public Relations, Inc.
P: 403-538-5645
C: 403-585-4570

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Yorkdale Shopping Centre

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