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.
“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.
Upcoming projects
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.
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.”
Vision of the Peter and Adelaide development
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.”
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.”
