Markham Buttonville Airport Redevelopment | ?m | 1s | Cadillac Fairview | Glenn Piotrowski Architect

An older article from back in 2012 by the Globe and Mail, but it explores the topic of the decline of ethnic malls in the GTA, which I feel is still relevant today.

www.theglobeandmail.com

The rise and fall of the ethnic mall

A decade ago, developers thought they could capitalize on a spike in Chinese and South Asian populations in the GTA, but things didn't turn out quite how they'd planned
www.theglobeandmail.com www.theglobeandmail.com
 
^ Kings Square opened only, what, a year ago? The Remington Centre is also finally under construction.. I wouldn’t exactly call them “dead”.
 
innsertnamehere said:
^ Kings Square opened only, what, a year ago? The Remington Centre is also finally under construction.. I wouldn’t exactly call them “dead”.
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I haven't been to Kings Square before, but several malls like the China Splendid Tower (across from P-Mall), Oriental Centre (Brimley & Sheppard E), and Langham Square (Kennedy, south of Hwy 7), etc all have pretty high retail vacancies. And in some ways never really took off and scaled back from further expansion as seen with China Splendid Tower.

They aren't dead, but I think over saturation and shift in demand due to gradual generational assimilation are more factors at play. What's interesting though is that I find plazas and strip malls to be fairing a lot better. As seen with the various ones scattered across Agincourt and Markham. However, interior structured malls are the ones that are stagnating. Remington Centre may have an advantage due to location and having residential spaces above
 
given the sudden rise in industrial land demand, I wouldn't be surprised if this just ends up as an industrial park. I suspect this resurgence of industrial demand is a big reason Cadillac Fairview recommitted to the site a few years ago. A decade ago you couldn't find an industrial tenant if you tried.. Everyone was trying to offload employment land. The tables have completely flipped now and it's the hottest asset class right now.
 
And looks like I called it right (yes, this one was a guess and I had no prior knowledge here)!

An ePLAN submission for a Major Official Plan, a Major Zoning By-law Amendment, and a Draft Plan of Subdivision has been received from Cadillac Fairview Buttonville Properties Inc. (Paul Macchione) c/o Malone Given Parsons Ltd. (Lincoln Lo) for 2833 16th Avenue. The "Subject Lands" are located south of 16th Avenue and east of HWY 404 are currently occupied by Buttonville Municipal Airport. The applicant is proposing to redevelop the subject lands for employment and industrial uses. The redevelopment concept and draft plan of subdivision proposes two (2) development blocks, a stormwater management block, a Highway 404 widening, and a network of public and private roads, including the proposed extension of Allstate Parkway north through the subject lands to 16th Avenue, to be built out in phases for a total of approximately 2,775,000 square feet at full build out. The conceptual master plan envisions 11 buildings ranging from approximately 38,000 square feet to 816,000 square feet in size, for a total building gross floor area of approximately 2,775,000 square feet at full build out. The development will be built in phases across the Subject Lands, with Phase 1 located at the northwest corner of the Subject Lands consisting of Buildings 1 and 2 and the construction of the Allstate Parkway extension to provide access and services to Phase 1
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Oh wow, is this all industrial now ?
 
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