Yorkdale Shopping Centre’s owners plan to add rental apartments to the site, which will be a huge change for Toronto’s largest mall.
The addition of a residential complex is in the works, according to a spokeswoman for Yorkdale’s owner, Oxford Properties Group. However, plans are still in the early stages, with few specifics to confirm. The Yorkdale mall apartments will be “mainly rental” for the time being.
It’s not the first time Oxford Properties has tried to incorporate residential elements into a Toronto shopping mall. The developer plans to construct three residential skyscrapers in Scarborough Town Centre, the highest of which will reach 50 stories. They’ll bring a total of 1,342 rental apartments to the region.
Oxford Properties revealed plans to develop 130 acres around Mississauga’s Square One Shopping Centre into an 18 million square foot mixed-use neighbourhood with 18,000 residential apartments only last year.
According to an Oxford Properties representative, the purpose for these constructions on the mall sites is “the pressing need for more housing supply. We don’t believe extensive surface parking lots are the most efficient use of transit-oriented real estate. Adapting some of this space for much needed residential stands to provide significant benefit to the broader community.”