ACT7
Active Member
That's crazy. I'm speechless...
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Tiffany's is moving next to the new LV (perhaps downsizing their space).
I'm pretty sure that would be an upsize, no? I'd be curious about square foot vs. square foot. Nice flagship opportunity though, and leaves space for another retailer to move in. I'm REALLY curious to know what's going into the new Four Seasons
I'm pretty sure that would be an upsize, no? I'd be curious about square foot vs. square foot. Nice flagship opportunity though, and leaves space for another retailer to move in. I'm REALLY curious to know what's going into the new Four Seasons
What bugs me the most is the secrecy of all this. it's taking forever for news to come out and for stores to move in. And everything seems to be a rumor....anyways I guess I'm impatient.....but yorkdale seems to be getting the news out in no time.
Yorkville has 3 problems vis-a-vis Yorkdale (maybe more):
1) Yorkdale has a permanent PR, marketing team behind it. The BIA doesn't compare...
2) Yorkdale also has a national leasing team which can curate retailers. Because each building is owned individually the BIA has no say over which tenants, wheras Yorkdale can actively push out tenants if it wants to
3) Yorkville can't compete with overall square feet of Yorkdale. There's an interesting aritcle about the old mac spot - its only 1000 square feet and the owner doesn't want a food retailer (ie Starbucks)... large "european brands" or even the J. Crews of the world want 5,000 square feet plus. The Tory Burch in Yorkdale is almost 3000 square feet.
That being said - its remarkable to think of how Bloor has changed in a decade. I remember the Grand and Toy location where Burberry was... etc...
One of the things Bloor hasn't seen (yet) has been the development of malls to add additional square feet. Chicago has numerous small malls which feed into Michigan Ave. Newbury Street has Copley Place too (for example their Tiffany location is in Copley Place). The game changers will be: 1 Bloor East, the renovation of the old Four Seasons and whatever Oxford does to Cumberland Terrace. We should see over 300,000 square feet of premiere retail added to the district (50,000 Yorkville Plaze, 100,000 at One Bloor East + whatever happens at Cumberland Terrace), this is key to the problem - look at the Top Tier retail that was added where Diesel and Anthropologie is... the demand is there for large format retail - I suspect there's a real shortage of space.
Yorkville has 3 problems vis-a-vis Yorkdale (maybe more):
1) Yorkdale has a permanent PR, marketing team behind it. The BIA doesn't compare...
2) Yorkdale also has a national leasing team which can curate retailers. Because each building is owned individually the BIA has no say over which tenants, wheras Yorkdale can actively push out tenants if it wants to
3) Yorkville can't compete with overall square feet of Yorkdale. There's an interesting aritcle about the old mac spot - its only 1000 square feet and the owner doesn't want a food retailer (ie Starbucks)... large "european brands" or even the J. Crews of the world want 5,000 square feet plus. The Tory Burch in Yorkdale is almost 3000 square feet.
That being said - its remarkable to think of how Bloor has changed in a decade. I remember the Grand and Toy location where Burberry was... etc...
One of the things Bloor hasn't seen (yet) has been the development of malls to add additional square feet. Chicago has numerous small malls which feed into Michigan Ave. Newbury Street has Copley Place too (for example their Tiffany location is in Copley Place). The game changers will be: 1 Bloor East, the renovation of the old Four Seasons and whatever Oxford does to Cumberland Terrace. We should see over 300,000 square feet of premiere retail added to the district (50,000 Yorkville Plaze, 100,000 at One Bloor East + whatever happens at Cumberland Terrace), this is key to the problem - look at the Top Tier retail that was added where Diesel and Anthropologie is... the demand is there for large format retail - I suspect there's a real shortage of space.
Here is a semi-official announcement about Tiffany's. The new space is a bit smaller but as has been mentioned, has a better layout.
http://canadianmalls.blogspot.com/2012_03_01_archive.html