Toronto Yorkdale Intensification | 150.5m | 50s | Oxford Properties | Hariri Pontarini

[picard102]

it fails to amaze me when many mall developers simply can't wrap their head around the idea of having mixed-use above a mall...other parts of the world especially Europe and Asia have done this for centuries.

Well I imagine it's a lot harder to build something on top of an existing building that is full of tenants and customers, than it is to build in a parking lot next to said building. Not sure what the issue is here, that parking is being removed?

 

[daptive]

it fails to amaze me when many mall developers simply can't wrap their head around the idea of having mixed-use above a mall...other parts of the world especially Europe and Asia have done this for centuries.

Hopefully The Well is a sign of changing tides

 

[sixrings]

Hopefully The Well is a sign of changing tides

But what would have to happen is that malls like square one and or Yorkdale would have to commit to making a new mall under all the proposed development. And then they would tear down Yorkdale and or square one and intensify that area. That’s a lot to ask considering you would need multiple condos to be constructed in unison. It’s hard to envision that in the current market.

I think what would be easier is to construct a second floor on Yorkdale or a third floor in square one and shrink the actual length and width of the mall so you get more area to develop.

 

[Mithras]

But what would have to happen is that malls like square one and or Yorkdale would have to commit to making a new mall under all the proposed development. And then they would tear down Yorkdale and or square one and intensify that area. That’s a lot to ask considering you would need multiple condos to be constructed in unison. It’s hard to envision that in the current market.

I think what would be easier is to construct a second floor on Yorkdale or a third floor in square one and shrink the actual length and width of the mall so you get more area to develop.

None of those things are feasible. The literally billions in lost revenue added to the construction cost would never work out.

Yorkdale has a low enough coverage that there's more than enough room to develop all you would ever need around it and replace parking with underground which usually doesn't make economic sense, but in Yorkdale's case actually does. That's all they will do. They also don't really want 5000 people living in a stone's throw who would want a different tenant mix in the mall to satisfy their needs. It's hard to massively develop and keep the mall high luxury.

 

[rdaner]

None of those things are feasible. The literally billions in lost revenue added to the construction cost would never work out.

Yorkdale has a low enough coverage that there's more than enough room to develop all you would ever need around it and replace parking with underground which usually doesn't make economic sense, but in Yorkdale's case actually does. That's all they will do. They also don't really want 5000 people living in a stone's throw who would want a different tenant mix in the mall to satisfy their needs. It's hard to massively develop and keep the mall high luxury.

Retail geared to residents would be in the base of the new buildings.

 

[The REAL]

Hopefully The Well is a sign of changing tides

Well to be fair, The Well was a very strategically planned neighborhood with a built in mall, where Yorkdale was NEVER meant have condos built on top of it, let alone near it.

 

[maestro]

Exactly. The Well was purpose built as high rise apartments above an open air mall. Yorkdale wasn't. Yorkdale is the uppermost echelon of retail. It's a cash cow worth more than thousands of apartments. The Well & Mirvish Village still have to prove themselves, They could join a whole slew of malls like Village by the Grange, etc. which declined in better retail times.

 

[sixrings]

But what would have to happen is that malls like square one and or Yorkdale would have to commit to making a new mall under all the proposed development. And then they would tear down Yorkdale and or square one and intensify that area. That’s a lot to ask considering you would need multiple condos to be constructed in unison. It’s hard to envision that in the current market.

Exactly. The Well was purpose built as high rise apartments above an open air mall. Yorkdale wasn't. Yorkdale is the uppermost echelon of retail. It's a cash cow worth more than thousands of apartments. The Well & Mirvish Village still have to prove themselves, They could join a whole slew of malls like Village by the Grange, etc. which declined in better retail times.

Comparing the well to village on the grange is a bit rough.