Ontario Construction News staff writer
QuadReal Property Group is partnering with Mattamy Homes to complete the first phase of the Cloverdale Mall redevelopment project in Etobicoke.
Mattamy will build a condo project on the standalone 2.3-acre “Triangle Site” at 2 & 10 The East Mall Crescent, kickstarting transformation of the 32-acre shopping centre into “a vibrant, sustainable, and innovative mixed-use urban community” with a 32-storey tower and an eight-storey building with more than 500 condos and 2,400 square feet of retail space.
“We are thrilled to be partnering with Mattamy Homes on this project as we were very impressed with their executional ability, vision for the site, cultural alignment and fit with our strategic corporate objectives,” Toby Wu, executive vice president, development, QuadReal Property Group said in a statement.
“We are excited to embark on this transformational project that fits with our corporate goal of creating dynamic mixed-use, retail-anchored and transit-oriented community hubs in growing suburban centres.”
Plans for the 32-acre Cloverdale Mall site include a mix of residential units, parkland and green space, a new streets and blocks network, community amenities and below grade parking.
“After extensive and close consultation with the community, the ask was a vibrant, sustainable and innovative mixed-use urban community – one that includes a re-envisioned retail offering,” Wu said.
First phase, Image: QuadReal
When asked why the project is going ahead now, Wu said, “The time is right. The property sits at the nexus of a node that’s preparing for significant growth and intensification. There is also currently an undersupply in the Toronto market of new condos and purpose-built rental. Notwithstanding, people are desperately seeking a viable ‘downtown’ alternative.”
“At the end of the day, our goal is to be a model for future high-designed mixed-use redevelopments globally. To that end, we are focused on offering a diverse mix of housing options; creating pedestrian-friendly environments; improving connectivity; ensuring robust transit integration; leading the way when it comes to sustainability; planning our projects in close collaboration with the community; and, curating a 21stcentury community-based retail offering.”
David Stewart, GTA Urban Division President, Mattamy Homes Canada, said, “We are proud to partner with QuadReal on the first phase of this world-class development. With an unparalleled dedication to connectivity, community building and place making; Cloverdale represents an exceptional canvas for reimagining the future of urban living. As we accelerate growth of our urban portfolio over the next decade and beyond, we look forward to continuing this trusted partnership”.
Cloverdale was built in 1956 as an open plaza with an open central pedestrian promenade in a Modernist architectural style. It was expanded and converted to an enclosed mall in the 1980s and underwent major renos in 2006. Currently it is anchored by Home Hardware, Rexall Drugstore, Winners, Kitchen Stuff Plus and Metro.