Overhauled RioCan Centre to Anchor Yonge and Eglinton Transformation

Date:

Share post:

An expansion and renovation of Toronto’s RioCan Yonge Eglinton Centre is nearing completion after more than three years of construction. The centre anchors one of the busiest intersections in the region, which will only become busier when the $5.3 billion Eglinton Crosstown light rail transit line is completed in 2021. 

French beauty retailer Sephora will anchor a prominent corner retail space at the centre, with frontage on Yonge Street as well as from access points within the centre. Construction is now underway on what will become one of Canada’s largest Sephora stores at 10,459 square feet, which is scheduled to open in July of this year. 

According to RioCan Vice President/Leasing Jeffrey Stephenson, the centre features a mixture of both destination and local retailers to serve resident and visitor populations. Local shoppers might patronize recently renovated grocery retailer Metro or Goodlife Fitness, for example, while retailers such as Sephora, Swarovski, Urban Outfitters and Michael Hill can pull shoppers from a wider catchment area. Page + Steele / IBI Group Architects were responsible for the 70-store retail component renovation (including the addition of a 40,000 square foot glass/metal ‘cube’ at the Yonge/Eglinton corner), as well as designing the re-cladding of the centre’s two office towers. 

RioCan Yonge Eglinton Centre (Image: RioCan)

A number of new tenants were recently added to the centre, diversifying its retail mix with a variety of food and fashion. The four-level retail podium features a number of food retailers on the subway level, and the top two floors also feature a number of large format retailers such as Winners, Toys “R” Us, Indigo Books & Music, and Goodlife Fitness. An enhanced concept Pickle Barrel restaurant, also upstairs, overlooks the busy neighbourhood below. Recognizing affluence in the surrounding area, Cineplex recently opened one of the region’s only VIP Theatres, further driving traffic to the centre. 

According to RioCan Senior Vice President of Leasing Jeff Ross, the decision to expand and improve the centre was partly in response to anticipated increased traffic from the new Eglinton Crosstown Line, as well as new residential development in the immediate area. RioCan earmarked over $100 million to improve the centre, which now includes a 264,400 square foot retail component as well as about 754,000 square feet of office space in two tall towers. The intersection is already very well-trafficked, with an estimated 80,000+ daily pedestrians. Only Toronto’s Yonge and Dundas Street intersection is busier.

RioCan Yonge Eglinton Centre (Image: RioCan)

RioCan’s focus isn’t just on its retail/office plaza at Yonge and Eglinton’s northwest corner, however — the company has partnered with Bazis and Metropia for a project called ‘E Condos‘ at the northeast corner of the same intersection. That development will include a 54,000 square foot commercial podium at the base of two residential towers measuring 58 and 38 stories, with over 850 residential units between the two of them. 

Craig Patterson
Craig Patterson
Located in Toronto, Craig is the Publisher & CEO of Retail Insider Media Ltd. He is also a retail analyst and consultant, Advisor at the University of Alberta School Centre for Cities and Communities in Edmonton, former lawyer and a public speaker. He has studied the Canadian retail landscape for over 25 years and he holds Bachelor of Commerce and Bachelor of Laws Degrees.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More From The Author

RECENT RETAIL INSIDER VIDEOS

Advertisment

Subscribe to the Newsletter

Subscribe

* indicates required

Related articles

Toronto’s CF Sherway Gardens Hits Sales Milestone with Exciting Retail Growth and Future Plans [Interview]

The shopping centre is adding new retailers as sales per square foot hit an all-time high, with plans to re-tenant Nordstorm as foot traffic grows following Eataly's opening in the mall a few months ago.

ECS Coffee Opens Canada’s Largest Coffee and Espresso Equipment Gear Showroom and Retail Space in Toronto [Interview]

The new Etobicoke location is unique to Canada if not North America, according to its founder, with coffee roasting, equipment showroom, over 500 varieties of coffee, Youtube studio and various in-store experiences. He has plans to expand the concept nationally.

New Loblaws City Market Opens in Vancouver’s ‘The Post’ Building, Adding Grocery Competition to the Downtown Core [Podcast]

Craig and Lee discuss the opening of a new Loblaws City Market in downtown Vancouver's renovated Post building, and they explore its potential impact on local grocery shopping.

Loblaw Announces $2 Billion Investment in Canada for 2024 with Dozens of New Stores and 7,500 New Jobs [Expert Comment]

The retail behemoth will be growing substantially this year, following backlash over profits as inflation continues to impact Canadians.

Dubai-Based Asian Street Food Concept ‘Wok Boyz’ Expands into Canada with Plans for Multiple Locations [Interview]

The company's founder says the popular concept, with personalized meals, has an opportunity to grow substantially with its high-quality ingredients and theatrical flare, complete with fiery customer-facing woks.

Calgary Surge Basketball Team Launches Innovative Pop-Up at CF Chinook Centre to Boost Community Engagement [Interview]

The retail activation, which opened this month, is resulting in heavier foot traffic in a quieter part of the mall.

Upscale Pusateri’s Fine Foods to Close Yorkville Grocery Store in Toronto After 20 Years

The 5,500 square foot store opened to much fanfare in 2003, with valet parking, private chefs and pricey goods. 

Loblaw and Walmart Could be Forced to Adhere to Grocery Code of Conduct with Legislation [Op-Ed]

Sylvain Charlebois says that it's rare for all of Canada's political parties to agree, signalling a shift that could force grocers to comply amid record inflation.

Factory Direct to Shut All 14 Stores Amid Bankruptcy, Liquidation to Begin Saturday

The company, founded in 1995, is one of Canada’s largest privately owned discount retailers which struggled with declining sales and increasing costs following the pandemic.

What to Expect for the Canadian Retail and Hospitality Sectors in 2024 [Video Interview]

Michael Kehoe provides an expansive overview of what's expected for Canada's retail industry in 2024, and how the commercial real estate industry is becoming more dynamic than ever.

Anatomy of a Leader: David Lui, CEO of Kit and Ace and Co-Founder of Unity Brands

Lui has an extensive background in retail with over 30 years of experience and is known for his award-winning brand transformations, e-commerce and digital knowledge along with his passion for scaling businesses.

Robotic Retail Gaining Traction in Canada, But Some Consumers are Being Left Behind [Op-Ed]

Automated retailers without in-store staff are opening across Canada, such as Aisle 24, RC Coffee and PizzaForno -- but consumers without smart phones, credit cards, or with vision issues may not be able to access these retailers says a researcher.