Masonville Place is getting a major uplift with a $77 million investment in renovations and introduction of international retailers such as ZARA and H&M.
The investment is the most expensive renovation conducted at the mall since it opened its doors to the public in 1985. The new investments were announced by Cadillac Fairview, the parent company of Masonville Place.
According to Finley McEwen, senior vice-president development at Cadillac Fairview, the renovations will reinvigorate the mall and update its current retail outlets and common spaces.
The renovations will see a new centre court staircase and installation of Italian porcelain tiles and stainless steel and glass guardrails throughout the mall. The goal is to keep the property relevant and provide customers a wonderful shoppingShopping is an activity in which a customer browses the available goods or services presented by one or more retailers with the intent to purchase a suitable selection of them. In some contexts it may be considered a leisure activity as well as an economic one. environment, McEwen said.
The mall is being expanded into the two-level, 127,000 square feet space previously occupied by the Sears store which closed down in February 2014. The renovations and mall expansion are expected to be completed by November 2016, in time for the Christmas shopping season.
The new retailers that will be opening shop in Masonville include the first ZARA store in London, H&M, Sport Chek / Atmosphere, Hot Topic, a Disney Store as well as a few restaurants.
Alongside the ongoing redevelopment project, the mall has seen recent additions to its retail outlets including Sephora, Ivivva, Lush and Saje, according to Brian O’Hoski, general manager Masonville Place.
Having a potential client base consisting of university and college students is an attractive prospect for some of the big retailers coming to the mall.
“I think we need to think about our customerA customer (sometimes known as a client, buyer, or purchaser) is the recipient of a good, service, product, or idea, obtained from a seller, vendor, or supplier for a monetary or other valuable consideration. base and … some of the great tenants we were able to acquire … definitely have students at the top of their minds as well,” O’Hoski said.
“Zara … [is] such a huge international retailer and the one and only in London I think is going to be a big draw for Western particularly.”
Masonville lost another big retailer after Sears when Target closed down its operations in Canada earlier in 2015 and the mall was left with a second, large unoccupied space.
McEwen said that the $28.5 million is being invested in the former Target space for redevelopment but there are no details available yet on what is being planned for that part of the shopping mall.