Shares preliminary concepts and plans based on public feedback
TORONTO, Oct. 13, 2017 /CNW/ - Choice Properties Real Estate Investment Trust ("Choice Properties") (TSX: CHP.UN) announced the grand opening of a Community Idea Centre for its 2280 Dundas St. West redevelopment project, scheduled for Saturday, October 14, 2017 at 11:30AM. The centre offers a venue for community events and gatherings, and will promote dialogue to uncover the unique, local needs to guide Choice Properties' development plans for a mixed-use community at the site.
The Community Idea Centre is located at the redevelopment site. The grand opening of the centre will also serve as the venue for its second open house for the project where Choice Properties will unveil preliminary development concepts. Choice Properties' development concepts and ideas are based on input received at the first open house held earlier this year in June and addresses community themes including connectivity, learning, living, working, shopping, playing and sustainability. The Community Idea Centre will provide visitors the opportunity to learn about and continue to participate in shaping this new community.
"This site is well-located with exceptional access to transit and matters not only to us, but to neighbouring communities, the City, the Province and people who come here every day. Our goal is to design and build an engaging, vibrant and sustainable place that residents, neighbours and visitors can be a part of." said Joe Svec, Director of Mixed-Use Development for Choice Properties. "We are opening a Community Idea Centre to help us stay connected with the neighbourhood as we develop plans for the site."
The Choice Properties site occupies approximately 10 acres and is located southeast of the Bloor Street and Dundas Street West intersection. The City of Toronto's Official Plan designates the site as a Mixed-Use Area supporting growth opportunities in retail, office and residential uses. The Province of Ontario identifies the location as a mobility hub, which is intended to promote local connectivity, contribute to economic vitality and accommodate significant employment and residential growth.
2280 Dundas St. West, Quick Facts:
The site – 2280 Dundas Street West – was built in 1962 and is located in the vibrant Bloor and Dundas West area, serving the Junction Triangle, Bloordale, High Park and Roncesvalles Village neighbourhoods.
Currently the retail centre is anchored by a Loblaws grocery store; other tenants include LCBO, KalTire and Coffee Time.
The site is steps from the TTC's subway line 2, 504, 505 and 506 street cars, the 30, 40 and 41 buses, the Bloor GO station and one of only two UP Express stations between Union Station and Toronto Pearson International Airport.
The site is designated as a Mixed-Use Area by the City of Toronto's Official Plan and is considered a mobility hub by the Province of Ontario.
A third open house is slated to be held this winter, along with a zoning submission to the City.
About Choice Properties Real Estate Investment Trust
Choice Properties Real Estate Investment Trust is an owner, developer and manager of well-located retail and commercial real estate across Canada. Choice Properties' portfolio spans approximately 43.8 million square feet of gross leasable area and consists of 537 properties primarily focused on supermarket- and drug store-anchored shopping centres and stand-alone supermarkets and drug stores. Choice Properties' strategy is to create value by enhancing and optimizing its portfolio through development, accretive acquisitions and active property management. Choice Properties' principal tenant and largest Unitholder is Loblaw Companies Limited, Canada's largest retailer. Choice Properties' strong alliance with Loblaw positions it well for future growth. For more information, visit Choice Properties' website at www.choicereit.ca and Choice Properties' issuer profile at www.sedar.com.
SOURCE Choice Properties Real Estate Investment Trust
For further information: For more information or interview requests, please contact: Kim Lee, Choice Properties REIT, [email protected], 416-324-7899; Katy James, Argyle PR, [email protected], 416-968-7311 x236