One of Canada's most valuable malls is about to get a $28 million redevelopment.
Oxford Properties Group said retail demand was driving its decision to spend the money on Yorkdale Shopping Centre in the north end of Toronto.
"Over the past decade, our strategic approach to attracting the most iconic global brands has led Yorkdale to having the largest collection of luxury retailers in Canada. By investing and renovating our space, we are making room for more of the world's leading brands, as well as enhancing and expanding our dining options to cater to both shoppers and employees," said William Correia, director of Yorkdale Shopping Centre, in a statement.
"The momentum is evident as we renovate significant spaces and reposition stores to meet the demand of brands and shoppers."
The relocation of tenants and renovation of what the malls says is a critical property corridor is being designed for more than a dozen of the world’s leading luxury brands. The first brands opening in the renovated hall will be announced later this year.
New retailers announced outside the central corridor include Dolce & Gabbana, World of Ralph Lauren, Chinese jewelry brand Qeelin, and Anine Bing.
Yorkdale said 53 new retailers opened locations at the property in the past few years, including 29 first-to-market brands, more than half of which operate in the luxury category.
The mall also announced the renovation of Yorkdale’s food court, which includes expanded seating for 1,200 diners and nine new restaurant concepts, bringing the total to 23 eateries.
The release did not mention plans for Nordstrom's retail space, which said it was exiting Canada in March, including the Yorkdale location.