Cadillac Fairview Announces $350 Million Sherway Gardens
210,000-Square-Foot Expansion, Renovation Creates New Retailer Space
and Dining Options
TORONTO, ONTARIO -- (Marketwire) -- 10/23/12 -- The Cadillac Fairview
Corporation Limited is pleased to announce today a $350 million
revitalization and expansion of Sherway Gardens, an investment that
will reinforce the 41-year-old shopping centre's position as west-end
Toronto's most popular retail destination.
The redevelopment will provide for an additional 210,000 square feet
of retail space and a remerchandising of 90,000 square feet of
existing space. The project is scheduled to begin in January 2013 and
will take approximately 45 months to complete.
"Sherway Gardens is one of our best-performing shopping centres, and
this revitalization will amplify everything that has made it such a
favourite with shoppers," said Clive Baxter, Cadillac Fairview's
Senior Vice President, Ontario Portfolio. "By making room for new
best-in-class retailers and enhancing our overall shopping and dining
environments, we are extending the mall's appeal to the increasingly
affluent, discerning shopper that Sherway Gardens attracts."
The full renovation will include new flooring, new ceilings
throughout common areas, new lighting and a new set of public
washrooms. A new three-level parkade will provide customers with
1,200 parking spaces in close proximity to the mall. In addition, the
expansion will allow for a significant change to the merchandise mix,
increasing the retail area to 1.3 million square feet, including the
GTA's first Nordstrom store and four new full-service restaurants.
"Food is going to play a much more important role, helping to
establish and extend the Sherway Gardens experience as an attractive
dining destination, day or night," said Andy Traynor, General
Manager, Sherway Gardens. "We are making room for four new
full-service restaurants, while literally elevating the prominence of
our food court," he said, referring to its relocation within the
JOEY and P.F. Chang's are among the new restaurant brands that will
open in Sherway Gardens. The mall transformation will also encompass
the expansion of both Harry Rosen and Sporting Life, and is designed
to continue to attract popular brands, with the
recent opening of
Tiffany & Co., and Forever 21 slated to open in November.
About Cadillac Fairview
The Cadillac Fairview Corporation Limited is one of North America's
largest investors, owners and managers of commercial real estate. For
more than 50 years Cadillac Fairview has been leading the way in
commercial real estate with innovative design, development and
Cadillac Fairview focuses on developing and managing high quality
office properties and regional shopping centres in Canada and the
United States, as well as international investments in real estate
companies and investment funds. With a portfolio valued at more than
$20 billion, Cadillac Fairview and its affiliates own and manage
nearly 47 million square feet of leasable space at 83 properties
across North America, including some of Canada's landmark
developments, such as Toronto-Dominion Centre, Toronto Eaton Centre,
Pacific Centre and Chinook Centre.
Media contact: MAVERICK Public Relations
(416) 640-5525 x230
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