The Well is a joint venture between RioCan and Allied, located at the gateway to Toronto’s downtown west – where the city’s top tourist attractions meet the vibrant King West neighbourhood.
RioCan REIT provides an official update following Hudson’s Bay Company’s CCAA filing, outlining joint venture exposure, secured credit support, and redevelopment potential across key Canadian retail sites.
Hudson’s Bay’s liquidation raises concerns for landlords like RioCan and Cadillac Fairview, creating uncertainty in retail real estate while opening redevelopment opportunities.
Hudson’s Bay faces a critical court battle as RioCan seeks to overturn rent suspensions, demanding HBC resume payments on 12 key retail properties in Canada.
RioCan owns, manages and develops retail-focused, mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work.
The flashy multi-tenant food market features a range of unique food and beverage vendors, and will add foot traffic and animation to the newly opened mixed-use centre.
SVP Oliver Harrison highlights RioCan's strategic shift towards transit-oriented mixed-use developments, with a focus on major Canadian markets and a strong pipeline for both development and acquisitions.
The mix of retail, office and residential space will provide a centre of community and according to a broker will be "the single most exciting development project in Canadian history".
Sephora will open one of its largest Canadian stores this summer. The flagship retail centre has been under construction for over 3 years, anchoring the corner of the city's second-busiest pedestrian intersection.