Toronto, October 1, 2014 – Many of Canada’s top shopping malls including Toronto’s Sherway Gardens, have been a major part of a remarkable retail renaissance. While Canadian homegrown fashion brands and department stores can’t compete with the powerhouses headquartered in New York, London, Paris and Milan – Canadians themselves are stylish fashion consumption machines. With retail mall sales at $600 per square foot versus $450 in the USA, it is no surprise that renowned international fashion retail heavyweights such as Nordstrom, Saks Fifth Avenue, and Topshop/Topman are in the midst of ambitious expansion plans that will place them in most of Canada’s major cities.
Toronto’s landmark shopping and cold weather refuges have been pouring hundreds of millions of dollars into extensive expansion and renovation projects, paving the way for coveted international brands to enter the Canadian market. Similar projects are underway in Vancouver and Calgary. This is great news for Canadian consumers, tourists and business travellers who until now, have been limited by Canada’s poor diversity of international luxury brands at most major shopping malls.
Sherway Gardens broke ground on its ambitious Toronto $500 million expansion project in 2013. Set for completion in 2017, the redevelopment will consist of a 210,000 square foot expansion and renovation of existing space, turning Sherway Gardens into a super regional shopping centre.
Highlights of the expansion project include 50 new stores, three new restaurants including a JOEY Sherway, and three new multi-level parking decks. The parking and easy access from the highway in particular are a major draw. We had a chance to tour the Phase 1 expansion to the north, which is set for September 2015 completion. This will be the new location of Sporting Life, Harry Rosen and a beautiful new 900-seat food court. West enders will be happy to hear that Sherway Gardens will also have a Saks Fifth Avenue (East Expansion) that will open in Spring 2016, followed by a Nordstrom (South Expansion) opening in Spring 2017.
Tour Photos: Spiro Mandylor, www.spiro.ca
Sherway Gardens Expansion Renderings & Video: Cadillac Fairview Corporation Limited
In association with our friends at Cadillac Fairview Corporation Limited