Retail Insider is streamlining its Canadian retail news from around the web to include a handful of top news stories that can be viewed quickly during the day. Here are the top stories from the past 24 hours.
Anatomy of a Leader: Meghan Roach, President and CEO of Roots
With a strong background in the world of finance, Meghan Roach has been steering retailer Roots for the past four years in what she describes as a “relentless pursuit of strategic growth and robust financial stewardship.”
Her financial journey began with her grandfather, who worked for Bell Canada. His started his career digging telephone poles, then became an early investor in the stock after learning about the employee share program. He gifted Roach her first Bell stock when she was just 12, and this ignited her passion for investing.
She still holds Bell stocks, adding, “I cannot bring myself to sell it, but my portfolio is now much bigger. I have always loved learning about companies and had a passion for finance and economics.”
Founders with Meghan Roach at the original cabin where Roots started in celebration of the 50th anniversary of Roots (Image: Roots)
Roach was born in Pembroke, Ontario, just outside of Ottawa and she associates much of her leadership style today with her up bringing.
“My father was a dentist and from a young age I spent time in his office. Whether it was helping with x-rays after school, cleaning on weekends, or sitting with my mother while she did the books, it was clear to me early on how much hard work and perseverance you need to make a business successful,” Roach said.
She left Pembroke midway through high school to attend Lakefield College School, an international boarding school that first piqued her interest in working globally.
She initially went to Queen’s University where she graduated with Bachelor of Commerce, then pursued a Chartered Accountant designation, before obtaining her MBA with Distinction from the University of Oxford.
At Queen’s she considered pursuing investment banking, working in her second year as an intern at National Bank Financial, where she had an opportunity to learn about trading, credit risk management, and investment banking.
“After the summer, I decided I wanted a deeper understanding of companies at a ground level and chose to pursue a Chartered Accountant designation,” she explained.
It worked out well for Roach, who early in her career leveraged her time at KPMG to obtain a coveted role at Teachers’ Private Capital, the direct private equity group of the Ontario Teachers’ Pension Plan. Roach was also made an FCPA, FCA earlier this year. The distinction of Fellow (FCPA, FCA) formally recognizes CPAs who have rendered exceptional service to the profession and in their communities and becoming an FCPA is the highest honour a CPA can receive.
“I joined Teachers’ at an interesting time. Lehman had just crashed and the volatility it created in the portfolio was unparallelled. One of my portfolio companies was heavily dependent on advertising and almost overnight it lost more than 50% of its revenue,” said Roach. “While a difficult period to manage through, when COVID-19 hit, I was able to reflect and draw on some of the lessons I learned during this time.”
Image: Meghan Roach
Transition has been a constant in Roach’s career. She was also at Teachers’ when they moved from geographic to sector focus and supported the set up of the software and consumer sectors. Shortly, thereafter she moved to England to purse her MBA at the University of Oxford, then joined Searchlight Capital Partners in its London office.
“When I joined Searchlight, the team was midway through raising their first fund. It was a fantastic experience to be there at the ground level, working to build sectors of focus and investing strategies.” Roach added, “I was coming from a large, well-established fund and it forced me to go back to thinking like an entrepreneur.”
Her time in private equity exposed Roach to both the investing and governance side of companies. She has held numerous private and public company board and audit committee roles in Europe and North America. Currently, she sits on the board of Roots, acts as a Vice Chair for the Holland Bloorview Kids Rehabilitation Hospital Foundation, a member of the Advisory Board of Shift Canada, and a member of the Investment Committee for the Nature Conservancy of Canada.
“The exposure I had to boards early in my career has been impactful in defining my approach as a CEO, particular those boards where multiple stakeholders were involved,” indicated Roach. “It has been fascinating to see the inside of a board room as an investor and now an operator and to consider the different priorities of each group.”
The Weeknd concert in Toronto, wearing one of the jackets designed in collaboration with the Japanese artist MR for the 10th anniversary of the Weeknd’s Thursday album (MR x The Weeknd x Roots) Image: Roots
In 2015, while she was at Searchlight Capital, the company purchased Roots, which began her journey with the iconic retail brand.
Before becoming the President and CEO of Roots in May 2020, she was on the company’s Board of Directors and Audit Committee from 2015 to 2017, then became Interim CFO in August 2019 before taking on the Interim CEO in January 2020.
It was an interesting transition for her because she went from being on the investment side of the retail sector to being on the board and then jumping into Roots on an interim basis and then full-time.
When Roots made it official and promoted Roach to her current role she said: “Over its 46 years, Roots has established a highly engaged and loyal consumer base, strong omni-channel capabilities, and a solid core product offering. I look forward to working with the talented and dedicated team at Roots to continue to build on this great foundation.”
Roach said what she liked about the brand was having an opportunity over a long period of time to develop a relationship with consumers and creating an emotional connection and driving common values together.
“Working with a heritage brand is unique. One must balance the legacy perceptions of the brand with the need to modernize and the long-term relationship many customers have with it,” she said.
What’s interesting about retail is the fact-driven nature of it. She likes the idea that in the industry you can try and test a number of different things and you can get an immediate consumer reaction.
“That’s a fascinating environment for me, as someone with a love of analytics,” added Roach.
Meghan Roach (Image: Roots)
She also steered the retailer through the challenging time of COVID-19.
“Despite the challenges it posed to Roots as a business, it was one of the most invigorating experiences of my career,” she said. “There was no room to be indecisive. We had to make choices quickly with limited information, while balancing the health and safety of our employees with a constant financial threat.”
And she did it with two small children at home.
“When COVID hit, we were living in a condo and my husband was also working from home,” added Roach. “My kids were literally running in and out of my meetings all day, but we made it work. It was a challenge that also brought me closer to my team, mainly of whom were dealing with the same pressures at home.”
Meghan Roach at the WXN Top 100 (Image Provided)
In November of last year, Roach was named one of Canada’s Most Powerful CEOs. The Canada’s Most Powerful CEOs Award recognizes individuals who exemplify the attributes of a powerful visionary with a strong foundational character, a sense of integrity, and the ability to elicit public trust.
“I am humbled to be recognized as one of Canada’s Most Powerful CEOs by WXN (Women’s Executive Network). This award is a testament to the incredible team at Roots, whose dedication, innovation, and commitment to excellence have propelled us forward, even in challenging times,” said Roach at the time.
As a leader, she described her style as being honest, transparent, approachable.
Her expectations of her team are clear as are the goals and objectives for the company.
“When times were tough, like during the pandemic, I was very transparent with the challenges we faced. When times were good and we were doing well, I was also clear with the team about what had gotten us to this place. I think that is really important as a leader. Being transparent, being honest, being direct, but also understanding that they are all people and we are all working together towards a common goal.”
Meghan Roach (Image: Roots)
Outside of work, Roach loves to spend time with her family and traveling.
She’s also passionate right now about muay thai, which is a martial art.
“I’m really enjoying it. It is a great stress relief as you cannot think about anything but muay thai (at VRTU Muay Thai) when you’re doing it. It’s also a very physically demanding sport,” she said.
“Loblaw’s decision to terminate multi-buy discounts is a controversial move that has both supporters and detractors. While it promises to level the playing field for all consumers, the long-term impact on prices and consumer choice remains uncertain.”
Loblaw announced the termination of its multi-buy discounts, such as “buy 2 for $4.99” or “one for $2.99,” effective immediately. This pricing strategy has been a contentious issue for consumers for years. The change will specifically impact Loblaw-owned No Frills stores, the company’s primary discount banner and Ontario’s most popular stores. Both the Parliamentary Committee and the Competition Bureau have long criticized this practice, with even Minister François-Philippe Champagne calling for its end.
New small format No Frills opens in downtown Toronto (CNW Group/Loblaw Companies Limited – Public Relations)
The practice, known as “volume discounting,” has been viewed by many as discriminatory against certain demographics, such as individuals who live alone or seniors who consume less food. According to a Dalhousie University survey conducted by Caddle last year, 38.1% of Canadians disliked the practice and wanted it eliminated. The only other industry tactic more reviled was shrinkflation, where the quantity of a food product is reduced while the price remains the same.
Volume discounting emerged years ago as a response to a surge in bulk-buying by consumers, largely inspired by the Costco model. Costco encouraged consumers to think big, promoting the idea that larger quantities yielded better deals. As volume discounting gained popularity, so did the criticism. Many argued it led to more food waste, as consumers were forced to buy more food to obtain a better deal.
However, a recent study in the European Economic Review found that ending volume discounts had unexpected consequences. Grocers in parts of Europe began offering more single-unit discounts, motivating high-consumption households to shop more frequently and purchase more. Loblaw likely read that study.
Conversely, a study in Health Economics suggested that multi-buys led more consumers to buy larger quantities of unhealthy foods.
Ending the practice is certainly a savvy political move for Loblaw and will likely be seen as a win by many consumers. However, the real impact will depend on how No Frills sets prices moving forward. Multi-buys or volume discounting benefited both retailers and suppliers with excess inventories or those wanting to promote certain products. This decision indicates a possible shift in the supply chain environment. This change does not guarantee a drop in prices or that deals for those who don’t need to buy in bulk will become more affordable. It merely ensures everyone is treated equally, which does not necessarily translate to better or more affordable treatment.
No Frills in Ajax (Image: Field Agent Canada)
The timing of Loblaw’s announcement in July is telling. Consumer reactions will likely vary; while some will celebrate, others may take their business elsewhere.
Ultimately, it remains unclear if this was the best decision for consumers, as it could deprive some of the opportunity to save through volume discounts. Large families and groups benefited from these discounts. Volume discounts also helped the supply chain manage inventory more effectively. The ideal solution would have been to offer the same unit-price deal to those who requested it, as some grocers already do, giving consumers more choice.
Prices at No Frills will need close monitoring to determine if this change truly benefits consumers. If Loblaw promises low prices, especially at No Frills, the company should honour this pledge without multi-buy discounts and avoid using this decision to raise prices for all, merely to appease a vocal minority. It will also be interesting to see if other grocers follow suit.
Chopped Leaf, a Canadian fast-casual restaurant chain, is embarking on a brand refresh and new look to celebrate its 15th year in business.
The brand’s original store in Kelowna, B.C., which opened in 2009, is the first location to highlight the new logo for the company and updated interior design.
“When The Chopped Leaf was founded in 2009, it was one of the few fast-casual restaurants that offered fast, healthier options. Overall, the landscape of food, health, and nutrition has evolved significantly since then,” said Genti Kongjika, Executive Vice-President, Chopped Leaf.
“It’s critical for any restaurant brand to evolve and stay fresh. We’ve done this while keeping true to our roots and maintaining the essence that makes Chopped Leaf unique and beloved by Canadians, and a rewarding franchise opportunity for entrepreneurs.”
Chopped Leaf, which has more than 115 restaurants across Canada and the United States, is known for its fresh salads, wraps and bowls.
Image: Chopped Leaf
The new look includes a revitalized interior design, logo and signage and it will be gradually rolled out as Chopped Leaf continues to expand nationwide.
“Canadians describe Chopped Leaf as vibrant, down-to-earth, inspiring, empathetic and approachable,” said Karen Paradine, head of Marketing at Chopped Leaf. “Our new look and design highlight that salads and greens are more than just health food – they’re comfort food.
“We aim to dispel the notion that greens are not craveable or fulfilling. For consumers choosing to eat better, only Chopped Leaf delivers comforting, quality, fulfilling and flavorful greens for everyone.
“From our perspective, it was the perfect time to refresh the brand. Our first restaurant was up for a renovation and we thought it’s turning 15 this year so we took the opportunity to re-establish our brand foundation and with that brand foundation . . . we then took it one step further to look at the restaurant design to make sure that the interior as well as our logo really reflects our brand strategy.”
The ceiling was painted white so it feels brighter and fresher in the restaurant. Counters were lowered so customers can better see the preparation of the food. A spotlight has been put on iconic products such as its signature salad dressing.
“This brand refresh was an evolution, not a revolution,” said Jean-Pierre Lacroix from Shikatani Lacroix, the agency behind the brand update. “We ensured that Chopped Leaf’s brand attributes of fresh quality choppings, irresistible signature dressings, menu variety, fruit infused Chopped Water and the ‘Feel Good After You Eat’ tagline are showcased throughout the new design.”
The Chopped Leaf (Image: The Chopped Leaf) The Chopped Leaf in Stoney Plain, AB (Image: The Chopped Leaf) The Chopped Leaf in Stoney Plain, AB (Image: The Chopped Leaf)
Paradine said the restaurant chain wants the customer to feel comfort when coming into one of the refreshed locations.
“It’s feeling a place of comfort and really what we’re trying to do is dispel the idea that greens is not comfort food. People go to pizza, burgers or soups or foods when they’re looking for comfort food. But consumers today really do feel good when they consume salads and greens and we want them to recognize The Chopped Leaf as that destination,” she said.
The new look Kelowna store just opened and the grand opening is scheduled on July 20-21.
The intent is to go through all the stores eventually.
“We’re a small brand right now so we can’t turn the switch on overnight but as restaurants go through modernizations and renewals we’ll be looking to bring in the new brand element.”
Retail Insider is streamlining its Canadian retail news from around the web to include a handful of top news stories that can be viewed quickly during the day. Here are the top stories from the past 24 hours.
The Hudson’s Bay Company has struck a deal to acquire US-based luxury retail chain Neiman Marcus, as first reported in the Wall Street Journal. The $2.65 billion deal involves Amazon becoming a minority shareholder in the newly formed Saks Global division, which will operate in the US while its Canadian Saks operations with three stores remain uncertain. It’s not known if Neiman Marcus could enter the Canadian market with the deal and it’s also not yet known what might happen, if anything, with HBC’s Hudson’s Bay department store chain in Canada.
Merger negotiations with Saks and Neimans have been ongoing for months according to the Wall Street Journal — Retail Insider was also being told last year that there were talks for HBC to take over Neiman Marcus under the direction of Governor Richard Baker, who was raising funds at the time. The deal to acquire Neiman Marcus could be approved by boards as soon as Wednesday evening, according to the Wall Street Journal article.
About US $2 billion was raised from existing investors for the deal, including Baker’s private equity firm NRDC Equity Partners, as well as Rhône Capital and the Abu Dhabi Investment Council. About US $1.15 billion in debt financing is being provided by Apollo Global Management.
Saks Fifth Avenue at the Hudson’s Bay (Yonge and Queen) building in downtown Toronto. Photo: Dustin FuhsMen’s footwear at Saks in downtown Toronto. Photo: Dustin Fuhs
Amazon will be a minority shareholder and will provide Saks Global with technology and logistical expertise along with Salesforce, also a new minority shareholder, which will work with the company on new AI initiatives.
Marc Metrick, currently head of e-commerce at Saks, will run the combined companies according to the Wall Street Journal. Saks Global will have about US $10 billion in annual sales, with distribution of some of the world’s top luxury brands.
The Hudson’s Bay Company acquired Saks Fifth Avenue in 2013 and made plans to open about 10 Saks stores in Canada. Saks opened its first Canadian store in downtown Toronto in February of 2016. A second Toronto store opened a week later at CF Sherway Gardens, and in February of 2018 Saks opened its third Canadian store at CF Chinook Centre in Calgary.
Saks Fifth Avenue CF Sherway Gardens, January 2023. Photo: Craig Patterson Rendering of the proposed/unbuilt Saks Fifth Avenue store in Montreal, via HBC
Saks had announced in 2016 that it would open a 220,000 square foot store in Montreal in the Hudson’s Bay building, and plans were subsequently shelved along with plans for a downtown Vancouver store. Saks could have entered the Edmonton and Ottawa markets as well before its expansion was halted.
The future of Saks’ three Canadian stores is currently uncertain — product is particularly sparse in the Calgary CF Chinook Centre and Toronto CF Sherway Gardens Saks locations which have also been downsized since their openings, while luxury brand concessions have exited the downtown Toronto flagship Saks store that is integrated into the downtown Hudson’s Bay building.
It’s not known if Neiman Marcus could enter the Canadian market as part of the announced deal — the Hudson’s Bay Company’s operations include offices in New York City, and so far there’s been no overt mention of an expansion of Neiman Marcus into Canada. However before the pandemic, sources told Retail Insider that there was a possibility of Neiman Marcus coming to Canada, including a store at Burrard and Georgia streets in downtown Vancouver in a new development.
Retail expert Liza Amlani of of Retail Strategy Group pointed out in a brief interview on Wednesday that now that Neiman Marcus has shifted its focus to top spenders, a Canadian expansion is less likely given our small population and the dominance of such retailers as Holt Renfrew, which stocks many of the same brands found at Neiman Marcus.
Saks Fifth Avenue entrance on second level of CF Chinook Centre. Photo: Jessica FinchMen’s department at Saks Fifth Avenue in Calgary. Photo: Saks
David Ian Gray, Principal at consultancy DIG360, said that Hudson Bay’s Canadian stores could suffer with the deal after already being neglected — over the past year, vendors have complained about not being paid while escalators have been down in many stores where music is also no longer being played.
“A bold move during some dog days in retail, this is an opportune investment to target those wealthy Americans protected from economic headwinds while gaining better buying clout with brands in the luxury space. That said, I still question the appeal of the department store model and, as a Canadian, I can only feel this further takes the leadership away from any creative play to keep Hudson Bay alive long term. While this deal is largely funded via partners, it will take time and attention of the combined senior team.”
Gray also noted the uniqueness of the overall deal including its Amazon and Salesforce partnerships.
“Notable is the equity involvement of Amazon and Salesforce. The former is interested in luxury and this will give it a passenger seat view. Amazon’s continued interest in stores is the best evidence to counter any lingering ‘death of retail’ sentiment. The Salesforce role reinforces my belief that modern retail is a technology play at the core,” Gray said.
Retail expert George Minakakis, Founder and CEO of Inception Retail Group, questioned the future of the department store in North America as well as prioritize of HBC as the company grows.
“Where do elephants go to die? In this case, the elephants are department stores. Many great brands have aged in place with little innovation and creativity to compel consumers to shop or be attracted to them. Unfortunately, they don’t stand the test of time. Survival now comes through consolidation, where supposed synergies, both financial and operational, need to be realized. However, that does not always work.”
“Hudson Bay is a classic example of being lost in the shuffle when too many retail brands are in a portfolio as complex as department stores with so many moving parts, and fashion and future aspirations were once the appeal. Not anymore. They now go where they will one day be forgotten and meet their end-brand game.”
Neiman Marcus filed for bankruptcy protection in 2020 during the pandemic, and closed some stores. Neiman Marcus currently operates 36 large-format stores, two Bergdorf Goodman stores in New York City (separate men’s and women’s) and five Last Call off-price stores. Saks Fifth Avenue operates 39 stores — in the US, eight malls have both a Saks and Neiman Marcus store, according to the article. Saks also has a separate e-commerce division that was created during the pandemic.
We’ll follow up on this story if there is any more news relevant to the Canadian market.
Notice to Tenant Landlord Distress Warrant (Image: Dustin Fuhs)
Canadian businesses continue to face financial stress.
According to the latest data from Equifax Canada’s Market Pulse Q1 2024 Business Credit Trends Report, new installment loan originations surged by 74 per cent year-over-year in the second half of 2023. Businesses that raced to meet the Canada Emergency Business Account (CEBA) forgiveness deadline of January 18 could potentially be driving this higher-than-seasonal demand, it said.
Sinead Gleason
Equifax said the uptick in delinquencies, notably observed from April 2022 to April 2024, parallels the implementation of interest rate hikes beginning in March 2022. A noticeable shift occurred in this period, with the percentage of companies experiencing at least one delinquency rising from 4.3 per cent to 4.9 per cent.
Sinead Gleason, Product Lead, Commercial Line of Business for Equifax, said the report highlighted the increase in delinquencies and bankruptcies which was pretty significant.
Brooks Brothers at CF Toronto Eaton Centre Closing (Image: Dustin Fuhs)
She said with the CEBA loan repayment deadline more businesses were taking out more installment loans.
“And balances have just been growing on financial trade balances, nearly $32 billion,” added Gleason.
“The cost of doing business has been steadily increasing and it impacts consumer spending, it impacts their inputs, their raw material inputs, and of course it’s been more expensive debt-wise in terms of interest rates. So businesses are taking on a heavier debt load and the economic environment is just not as strong as it was. So it’s a lot of pressure and we’re definitely seeing that in terms of missed payments.”
“While it may feel like CEBA is moving into the rear-view mirror, it’s truly a matter of businesses turning to new installment loans to secure their financial stability,” added Jeff Brown, Head of Commercial Solutions for Equifax Canada. “Many businesses were focused on the forgiveness deadline and paying back debt to take advantage of this timeline. The increased reliance on these loans has also contributed to a notable rise in delinquencies, particularly in installment loans.”
The Equifax report said industrial trades (credit accounts between businesses and suppliers) have seen a significant increase in 30+ day delinquencies, rising from 10.1 per cent in Q1 2023 to 12.2 per cent in Q1 2024. Similarly, financial trades (credit accounts between businesses and financial institutions) have also experienced an increase in delinquency rates, with 30+ day delinquencies rising from 3.3 per cent in Q1 2023 to 3.4 per cent in Q1 2024.
It said financial trade delinquencies are primarily being driven by missed payments on installment loans and lines of credit where 30+ delinquency rates have risen from 2.4 per cent and 3.3 per cent in Q1 2023 to 2.7 per cent (up 24.8%) and 3.9 per cent (up 19.1%) in Q1 2024 respectively. Overall credit card delinquencies remained low. However, businesses that have opened new credit cards over the last two years are missing payments at a much faster rate on those cards, which may impact delinquency levels later in 2024.
Shuttered Wild Wing at Richmond and Church Street in Toronto (Image: Dustin Fuhs)
Delinquencies on asset-based loans are at some of the highest rates seen in the last 20 years, driven largely by the transportation and retail industries.
“The rise in missed payments strongly deviates from what would be expected, and may be cause for long-term concern. The asset-based loans include equipment leases that traditionally have lower-than-average delinquency. This makes sense because if, for example, you’re running a pizza restaurant, you don’t go delinquent on the lease of your pizza oven or if you’re a trucking company you won’t want to go delinquent on your trucks either — because if you do, it’s game over for your business,” said Brown.
Gleason said with interest rates going down it’s a positive move but she’s not sure it’s going to make a measurable, meaningful impact in the short term.
“I think it’s going to take another quarter or two and we’re probably going to see that strain carrying. I don’t know if it’s going to be to the same degree. Hopefully not.”
But Gleason said a hopeful trend is the number of new businesses setting up shop in Canada today.
On top of the challenge of rising delinquencies, Canadian businesses are struggling under the weight of rising debt, with outstanding financial trade balances hitting a new high of $31.9 billion in Q1 2024 — a 7.4 per cent increase from last year, said Equifax.
“The recent rate cut by the Bank of Canada offers hope that we could be on a trend towards lower rates if inflation remains in check,” said Brown. “Businesses may get some breathing room on debt payments, which could potentially free up resources for growth.”
Kelowna’s Rooms + Spaces location. (Image: Cindy White / Castanet) The notice posted on Kelowna’s Rooms + Spaces location. (Image: Cindy White / Castanet)
Equifax said inquiry volumes for financing during the first quarter of 2024 jumped 2.4 per cent year-over-year, reflecting strong demand from businesses. While access to credit may be uneven with lower-risk borrowers receiving a larger share of new trades, there are positive trends emerging. More than 53,000 businesses have opened in Q1 2024, up 30 per cent from Q1 2023.
The industrial sector saw a 6.5 per cent rise in new originations in 2023 compared to 2022. Financial trades also increased with a 3.4 per cent increase in the last quarter and a significant 14.4 per cent jump year-over-year.
“These figures paint a promising picture for future economic activity, despite some adaptations in the lending environment,” explained Brown.
BestCo, a Greater Toronto Area based grocery store, is set to open its first location downtown at Peter & Adelaide in the new development by Graywood Developments, which promises to bring more convenience and amenities to the city’s entertainment district.
The Peter & Adelaide development is a mixed-use project with retail and residential spaces, the project already has nearly 700 residential units sold and Graywood has more developments in the works in the upcoming years.
BestCo will be the main tenant which will meet the diverse needs of its residents and the surrounding neighbourhood.
Alex Marshall
“Having a grocery store as the anchor tenant on the second floor will give the residents of Peter & Adelaide the ultra convenience of being able to pick up some groceries on the way to their condo, or quickly run downstairs when that last ingredient runs out while cooking their favourite meal,” says Alex Marshall, Vice President, Development of Graywood Developments. “This benefit extends to the surrounding neighbourhood, as there has been a lot of residential development in this node, which drove the need for an urban convenience such as a grocery store in this location.”
The new BestCo location meets a growing need for accessible grocery options in the area that has seen increased population and development growth. As more people choose to live in the city, BestCo has picked a location that will both serve the residential and commercial needs of a growing community.
The new location is also expected to boost foot traffic in the area, which will benefit other businesses within the Peter & Adelaide development and surrounding areas.
In 2023, Graywood Developments registered four mixed-use developments: Wonder Condominiums, Scout Condos, 250 Lawrence, and Peter & Adelaide. Marshall says Graywood Developments also has a few plans coming up, which will also provide more opportunities for retailers.
“JAC Condos is nearing completion and will open its doors later this year. The Goode Condos in the Distillery District is under construction and we anticipate welcoming residents and retailers in late 2025. Graywood will continue to deliver exceptional projects in AAA locations for years to come.”
Future mixed-use project developments include:
Mixed-use projects along the Church Street corridor
High-rise developments at Young and St. Clair
High-rise developments at Vaughan Metropolitan Centre
Mid-rise project at Bronte Village in Oakville
Low-rise development in Park and Lake in Oshawa
Mixed-use project at Fish Creek Exchange in Calgary.
Centricity (Image: Graywood)
Additionally, Marshall says Graywood Developments has expanded its services by establishing an asset management division overseeing a diverse range of property types. This includes industrial, retail, offices, and residential assets – “with over 1.6 billion worth of assets under management.”
With the success of the retail development at the Peter and Adelaide development, Marshall says they are seeing more interest in retail spaces under their future developments.
“Following the successful closure of the retail component at Peter and Adelaide, we are now seeing an uptick in interest in our other retail offerings that are currently on the market including Wonder condominiums in Leslieville where we have 10,000 square feet of retail space available, and Scout condos, St. Clair, and Old Weston Road has 7,500 square feet of retail space available. On the horizon, we are set to deliver JAC condos located at Jarvis and Carleton this year where there are a few residential units remaining along with 2,600 square feet of retail space.”
JAC Condos (Image: Graywood)
Vision of the Peter and Adelaide development
Peter & Adelaide (Image: Dustin Fuhs)
For Graywood Developments, the vision behind Peter and Adelaide development was clear: combine the past with the future while creating an enjoyable space for residents and the community.
“Graywood is known for developing in prime locations, and Peter and Adelaide is no exception as this is a key intersection in the Entertainment District of Toronto. When developing such a landmark project like Peter and Adelaide, which is nearly sold out, it was important to take a holistic approach. The incorporation of historical elements retained in the podium mixed with ultra modern amenities and a new grocery store makes this building unique in the city. Yes, we sold nearly 700 units, but we also had the ability to create a neighbourhood amenity, and deliver on the vision of a mixed-use project that meets the needs of a wide range of residents who call this project home.”
Peter & Adelaide (Image: Graywood)Peter & Adelaide (Image: Graywood)
The residential building has a lot to offer to new and future residents, such as a gym and party rooms, providing spaces for both fitness and socializing. Additionally, the development also includes a swimming pool on the 19th floor where residents can enjoy the views of the city.
“Now that the project is complete, it is great to see that vision come to life through the inspiring public realm along Peter Street with the eye-catching V-shaped columns to welcome residents and retail shoppers, to the residential amenities such as the spectacular gym and party rooms on the third floor, and all the way up to the stunning swimming pool on the 19th floor. All these amenities come together to create a sense of community for the residents of Peter and Adelaide.”
Pizza Pizza has launched a multi-year partnership as the official pizza of BC Place, the BC Lions and the Vancouver Whitecaps.
Pizza Pizza, established in Ontario in 1967, entered the Lower Mainland in 2018 and has grown to over 50 locations in BC.
Pizza Pizza Limited was founded in 1967 in Toronto and has grown to become Canada’s leading national quick service pizza brand with over 775 restaurants across the country. In 2007, Pizza Pizza acquired the Pizza 73 brand, which operates over 100 locations, primarily in Alberta.
Image: Pizza Pizza
Amber Winters
Amber Winters, Senior Director of Marketing, Pizza Pizza, said the brand opened 31 locations in Canada last year.
“We’re always open to more. We’re aggressively expanding our footprint across Canada so we are coast to coast and we added 31 locations last year and we’re looking to exceed that this year and a lot of that is headquartered in BC. We are looking to continuously find ways to connect with the audiences in the markets that we serve and deepen our engagement,” she said.
“Sometimes that means through these sorts of stadium engagement plans or sometimes it’s just adding more restaurants in the area just to make it as easy as possible to grab a nice slice or order a pizza to enjoy your event or enjoy your evening.
“For Pizza Pizza, we do look for locations that are quite visible. We do service not only through delivery but also through pickup and walk in traffic. So we like to find places that are high traffic, high visibility and also easy to access. That’s something we’ve found has been very successful in our history and we’ll continue to look for moving forward. We do have some in-seating spaces for customers if they want to eat on site or just want to take it home or wherever they’re heading to, making it accessible for any situation.”
Image: Pizza Pizza
Pizza Pizza has decades of experience feeding sports and entertainment fans, serving millions of slices in stadiums, arenas and festivals across the country. The pizzeria has long-standing partnerships across teams in the National Hockey League, the National Basketball Association, the Canadian Football League, CFL, Major League Soccer and the Professional Women’s Hockey League.
“We have several (partnerships) across Canada. We’ve been in Scotiabank Arena for many, many years. In Montreal, in the Bell Centre. Canada Life Centre in Winnipeg, etc. We have a lot at the pro level to anything in between from the grassroots and professional. We have Pizza Pizza in many, many buildings across the country,” said Winters.
“We feel pizza and sports, any celebratory event, whether it’s a concert or a game, is worth enjoying over a slice of pizza. We believe that Everyone Deserves Pizza and what better way to enjoy an event than to have it a great experience with a nice hot and fresh slice in your hand to tide you over for the evening. We really feel it’s been a real key to our success in our history.
“Since we’ve been in the Lower Mainland since 2018, this is really our first big stadium deal in the market and we’re really excited to bring that consistent experience to the people of BC.”
Image: BC Place
Chris May, General Manager at BC Place, said the stadium is “committed to partnering with brands that share our dedication to delivering exceptional fan experiences.”
Chris May
As the largest multipurpose venue of its kind in Western Canada, BC Place provides a home for international, professional, and amateur sport, entertainment, commerce, cultural experiences, and community gatherings. BC Place is a part of BC Pavilion Corporation (PavCo), a Provincial Crown Corporation of the Ministry of Tourism, Arts, Culture & Sport that owns and operates the Vancouver Convention Centre and BC Place.
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