Restoration and Expansion of Heritage Building to Enhance Retail and Office Space
TORONTO, April 26, 2018 /CNW/ - Cadillac Fairview (CF) is pleased to announce the expansion and major restoration of 2 Queen Street West, a heritage building prominently situated on the northwest corner of Yonge and Queen streets. As part of the CF Toronto Eaton Centre (CF TEC) complex, the building recently housed retail and office space.
The project, designed to improve the quality and utility of the property while preserving its unique architectural features, will restore the original 1885 façade and add three more storeys to the building including a top floor designed to accommodate a first-class restaurant with an exterior terrace. Overall, the redevelopment comprises 23,150 square feet of office space and 22,011 square feet of retail and storage space as well as significant mechanical, structural and electrical upgrades.
"A beautifully restored 2 Queen Street West would serve as a gateway from Yonge Street to the south entrance of the CF Toronto Eaton Centre," according to Rory MacLeod, Vice President, Development, Cadillac Fairview. "This project complements our ongoing investment in the CF TEC complex, most recently demonstrated by our announcement with BMO to develop an innovative new workspace in the former Sears office space, construction of the new Queen Street pedestrian bridge and the opening of Saks Fifth Avenue at the Hudson's Bay Queen St. location."
As part of its Canadian portfolio, Cadillac Fairview owns and operates several heritage properties, preserving and integrating their unique architectural features into vibrant downtown commercial addresses. These include the Station in Vancouver, Montreal's Gare Windsor, the Transportation Building in Ottawa, and Toronto's iconic TD-Centre.
"Cadillac Fairview is absolutely committed to our responsible investment in the heritage properties under our stewardship," added Mr. MacLeod. "Built in 1885, this building's beautiful façade is currently obscured having undergone several renovations, but today, we are proud to be restoring 2 Queen Street West to its original glory."
CF Toronto Eaton Centre comprises over 2.1 million square feet of retail space and over 2.6 million square feet of office space. Both retail and office space within the CF TEC complex are over 99% leased.
About Cadillac Fairview
Cadillac Fairview is one of the largest owners, operators and developers of best-in-class office, retail and mixed-use properties in North America. The Cadillac Fairview portfolio is owned by the Ontario Teachers' Pension Plan, a diversified global investor which administers the pensions of more than 300,000 active and retired school teachers. The real estate portfolio also includes investments in retail, mixed-use and industrial real estate in Brazil, Colombia and Mexico.
Valued at more than $28 Billion, the Canadian portfolio includes over 38 million square feet of leasable space at 67 properties in Canada, including landmark developments, such as Toronto-Dominion Centre, CF Toronto Eaton Centre, CF Pacific Centre, CF Chinook Centre, Tour Deloitte and CF Carrefour Laval.
SOURCE Cadillac Fairview Corporation Limited
For further information: Media Contacts: Anna Ng, Cadillac Fairview, 416-598-8246, [email protected]; Christa Connell, North Strategic (on behalf of Cadillac Fairview), 647-293-3515, [email protected]