Ontario Construction News staff writer
Choice Properties Real Estate Investment Trust and The Daniels Corporation have launched work to revitalize the 19-acre Golden Mile Shopping Centre at 1880 Eglinton Ave. E, Toronto, adjacent to the new Eglinton Crosstown LRT.
Construction will transform the 67-year-old shopping centre into a mixed-use, mixed-income, multi-generational and transit-oriented community. Phase One will include two condominium towers, a purpose-built market rental building, ground floor retail uses, institutional uses and office spaces. The development will surround a pedestrian mews that will create a vibrant new gateway to the Golden Mile community.
“We have long recognized the importance of the Golden Mile as an opportunity to make a significant impact, not just within our 19-acres, but on the much broader aspiration to positively influence the entire area for generations today and tomorrow,” Rael Diamond, president and CEO of Choice Properties REIT.
“The future redevelopment of these lands and the Golden Mile neighbourhood as a whole is about building a complete community. We are thrilled to partner with Daniels, a city builder that shares Choice Properties’ commitment to creating healthy, resilient communities through a community-based approach to development.”
The 280-acre Greater Golden Mile area is expected to attract 40,000 new residents over the next 20 years – largely supported by the Eglinton Crosstown LRT.
REAT officials say their plan will drive a physical transformation as well as a multi-sector collaborative approach to inclusive development.
Choice Properties and Daniels are poised to kick-start this transformation through the introduction of the Golden Mile Community Innovation District to bring together expertise and best practices of all stakeholders including the University of Toronto Scarborough (“UTSC”) and Centennial College.
“Our partnership with Choice Properties, and this collaboration with residents, community organizations and post-secondary and financial institutions will catalyze the transformation of the entire area,” said Mitchell Cohen, president and CEO of The Daniels Corporation.
“Working together, we believe that Scarborough will re-emerge as an inclusive and powerful engine of prosperity, where a spirit of collaboration and community shines brightly, and where everyone has an opportunity to live, work, learn, shop, grow and thrive.”
UTSC and Centennial College will work with community partners to enhance access to post-secondary education, foster co-learning opportunities, and facilitate the co-creation of sustainable and inclusive communities. The UTSC Institute for Globalization, Transnationalism and the Advancement of Resilient and Inclusive Suburbs and Economies (GTA-RISE) will be built in the development and serve as an intellectual hub.
“The Golden Mile Community Innovation District promises to be a global showcase and
exemplar of how to reinvent suburbs for the good of all, and our scholars and learners look forward to sharing the knowledge gained and the lessons learned with other educators and communities in Canada and around the world,” said professor Wisdom Tettey, vice-president at U of T.
This is the second development partnership between Choice Properties and Daniels. The first joint venture community is under construction at the Mount Pleasant GO Station in Brampton. Called MPV, this transit-oriented community is comprised of a 25-storey market rental tower, and 147 condominium suites and townhomes that will be going on sale in fall 2021.