Yes Target opens August 1st, however the store is still 2 stories. The only thing they did, was a complete renovation of all the exterior and interiors of the former Zellers store.
From Aug 1, Target will have coupon deals for their opening and looks like there are great in-mall contests and gift-card event on Aug 2 mentioned on the fb page. https://www.facebook.com/erinmillstowncentre