Over the Rainbow has occupied its current 4,300 square foot location at 101 Yorkville Avenue since 1982. The retailer was founded in 1975 with a store on Bloor Street West.
The new Manulife Centre Over the Rainbow will span about 6,500 square feet, according to co-owner Daniel Carman. It will be located on the ground floor of the complex’s retail podium, occupying part of the retail space formerly occupied by gift retailer William Ashley (which recently relocated) as well as some space currently occupied by BMO. Over the Rainbow will be accessed from within the mall, and it will also feature exterior display windows as per the rendering above.
The New Manulife Over the Rainbow will be designed by Giannone Petricone Associates Inc. , and the current location will remain open while the new store is being constructed.
The 101 Yorkville retail building was jointly acquired last fall by First Capital Realty and Greybrook Realty Partners Inc., with each paying about $17,785,000. The 45,000 square foot commercial building will be demolished and replaced with a more contemporary 35,000 square foot retail building, which will be targeted towards luxury brands.
Manulife Centre will see a $100 million overhaul that will include the addition of Canada’s first Eataly (at an impressive 50,000 square feet) as well as an overhauled Maison Birks jewellery flagship, and a number of other new retailers. Some existing retailers will also renovate as part of the mall’s overhaul. The Manulife Centre overhaul is expected to be completed in 2019, which is also when Eataly expects to open its three-level concept.
Manulife is working with real estate consultancy Beauleigh for its retail lease negotiations.
Over the Rainbow is considered to be one of the country’s leading premium multi-brand denim retailers, and it was founded by Joel Carman in 1975. Mr. Carman is quoted as saying: “This new store has been in the making for many years! We are so excited to finally reveal our plans and we can’t wait to deliver a bigger, modern space for our customers, in what we view to be a crown jewel of a building in the BLOOR-YORKVILLE area. We believe the dynamic redevelopment plans to MANULIFE CENTRE complement our store’s vision for the future. Not to mention being surrounded by great retailers in the building and having direct access to the subway and underground parking facilities. We believe the new store will be a home run for our customers while allowing us to deliver the same comfortable and friendly experience that comes with shopping at OVER THE RAINBOW! It’s an exciting time for our family business!“.