Cloverdale Mall in Etobicoke, Ont., is undergoing a revitalization that will transform the shopping centre into a mixed-use community hub.CNW Group/Mattamy Homes Ltd.
Long before the economic fallout caused by the pandemic, the death knell for malls rang loud. But despite tough times for retailers, many legacy shopping malls are being revitalized, rather than torn down, thanks to designers’ and developers’ reimagining of these staid spaces. This urban-development trend modernizes malls as outward-looking, mixed-use community hubs, versus inward-facing shopping centres of the past.
The mall of the future
Modern malls are no longer just places to shop till you drop – nor are they simply spaces for retirees to sip coffee or for bored teenagers to hang out. The successful ones undergoing transformations are experiential places to learn new skills, listen to live music, see art exhibits and more.
The integration of retail with commercial and residential space is a direct response to consumers’ shopping habits. Shoppers today want stores that offer more than a place to purchase a product or service – they’re looking for a novel experience. If not shopping online, consumers also want convenience.
“Quality mixed-use development is critical to any reimagining,” says Casdin Parr, executive vice-president of retail advisory at JLL Canada. “Consumers’ most valuable commodity today is time. Developers who create spaces where people want to connect, be active and present will be winners in a highly competitive environment.”
A global leader in property management and investment services, JLL has assets in all building classes – from industrial to commercial, residential and retail. According to Mr. Parr, in a hybrid environment where people live, work and play, meeting and servicing clientele through a variety of experiences and services is key to attracting investment – a reality that rings true across sectors.
A recent report by JLL found the current housing crisis has highlighted the need to “unlock land surrounding shopping centres for residential use.” The interest in this is primarily due to many malls being located in prime spaces that are ripe for the addition of other community landmarks, such as parks and public transit.
Revitalizing Cloverdale Mall
This mixed-use philosophy is what drives global real estate company QuadReal Property Group’s ambitious $6-billion transformation plans for Cloverdale Mall in Etobicoke, Ont.
From a much-loved, dated building to a soon-to-be 32-acre, mixed-use urban neighbourhood, Cloverdale sits at the intersection of Highway 427 and Dundas Street West. It first opened in 1956 as an open-air plaza and quickly became a go-to place for shopping and professional services for multiple generations of west-end Toronto residents.
The revitalization of Canada's shopping malls is being driven by the current housing crisis, which has highlighted the need to repurpose land around malls for residential use.CNW Group/Mattamy Homes Ltd.
When Cloverdale was first conceived in the postwar building boom, there were no surrounding skyscrapers and no highway. As with many suburban malls, the Etobicoke area grew up around this retail plaza.
This is not the first time Cloverdale has been transformed. In the 1980s, it was converted to an enclosed mall, and major renovations occurred again in 2006. Before developing its master plan for the mall, QuadReal – which owns Cloverdale – gathered feedback from more than 15,000 local residents. The goal is not to destroy the mall’s essence but to enhance it into a mixed-use community hub that matches the demands of residents.
“This is a unique opportunity to reimagine Cloverdale and bring a cherished property into the 21st century,” says Aaron Knight, senior vice-president of development at QuadReal. “For many, this mall is still the heart of central Etobicoke. Our goal is to make sure it remains a hub for this community, but also delivers all the amenities that an urban suburb of Toronto now requires.”
The West Coast’s massive mall metamorphosis
On the West Coast, where QuadReal’s corporate headquarters are located, the company is undertaking a massive mall makeover of Vancouver’s Oakridge Park to create a cultural destination that spans more than five million square feet. Once complete, this reimagined mixed-use retail destination and master-planned community will offer 850,000 square feet of retail space and housing for more than 6,000 residents.
This grand redevelopment also includes 700,000 square feet of commercial space, a community centre with a brand-new library and daycare, plus six indoor and outdoor live-music venues. At the heart of this development is a nine-acre park featuring a one-kilometre running loop, community gardens and playgrounds.
The massive upgrade of Vancouver’s Oakridge Park includes 700,000 square-feet of commercial space, a community centre with a brand new library and daycare, and more.Supplied/Westbank and QuadReal
In a February press release, Andy Clydesdale, QuadReal’s executive vice-president of global retail, said Oakridge Park “sets a new standard for transformative projects by seamlessly integrating retail, residential and sustainability elements through innovative design and functionality.”
Oakridge is a collaboration between QuadReal and Westbank that started in 2017 when this shopping destination, which was consistently ranked among the top two in terms of sales per square foot in Canada, was transformed into a five-million-square-foot town centre. The development and construction phase of the project is expected to create a total of 30,000 full-time jobs.
“We hope that the new Oakridge Park will serve as a cultural hub for Vancouver that the world will look to for inspiration,” adds Ian Gillespie, founder and CEO of Westbank.
These mixed-use, multiphase projects require not only collaboration between developers and designers, but also between the public and private sectors. Patience is also a prerequisite since it takes time to secure permits and approve each phase.
“At QuadReal, we try to anticipate the future by including flexibility in our designs,” Mr. Knight concludes. “We don’t necessarily know what the community will demand or need in 10 years, but as we plan, we always maintain flexibility so we can adapt to these changing expectations.”