kade1064
Active Member
not funny, woodbine mall needs change nowThe former owner decided to merge two of his for-sale malls (Woodbine & Rexdale Plaza) together.
It's tentative title is the "Rexbine Fantasy Plaza Centre"
"Coming soon in 2018"
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not funny, woodbine mall needs change nowThe former owner decided to merge two of his for-sale malls (Woodbine & Rexdale Plaza) together.
It's tentative title is the "Rexbine Fantasy Plaza Centre"
"Coming soon in 2018"
there already is a Walmart close by at Rexdale Blvd & Islington Ave. across from the CostcoWalmart 2 floors. That area doesn't have a Walmart, Westwood mall doesn't have a Walmart anymore.
WHAT??? I thought The Bay wanted to keep their Eglinton square store open as a Bay clearance centre!!I think that Hudson's Bay wants to close all of its lowest "Silver" tier stores, which in Metro Toronto includes its Woodbine, Elgington Square and Centrpoint stores while maintaining redevelopment rights if it holds below market-rate leases.
WHAT??? I thought The Bay wanted to keep their Eglinton square store open as a Bay clearance centre!!
I think that Hudson's Bay wants to close all of its lowest "Silver" tier stores, which in Metro Toronto includes its Woodbine, Elgington Square and Centrpoint stores while maintaining redevelopment rights if it holds below market-rate leases.
A suburban mall with enough parking lot space (like this one) could easily attract crowds with a series of free concerts. Some might roll their eyes and say these are all over the place in the summer at ribfest, park, and street festivals, but they do almost always work when they're free.Looks like the circus is back in town at the Woodbine Centre parking lot! ...
Maybe there was no serious bid this time? If so, do they just wait a few months and try again?I’m not sure. Bidding was extended till the 29th… let’s see if it’s sold
The mall will most likely be flattenedA suburban mall with enough parking lot space (like this one) could easily attract crowds with a series of free concerts. Some might roll their eyes and say these are all over the place in the summer at ribfest, park, and street festivals, but they do almost always work when they're free.
A couple of times in recent years I've walked from Markville Mall to free concerts in Unionville. Apparently there's been a problem with too many people showing up to fit in the area in front of the Unionville Bandstand, and them having to pay for the police to shut down the surrounding streets, along with the local neighbourhood sponsorship no longer covering their expenses. (It seems next year they're having to shift away from professional acts to local school bands and such.)
The thought occurred to me that maybe the mall and its larger retailers could do something similar in their parking lot.
Vaughan has a series of free park concerts with large crowds, sponsored by TD, Tim Hortons, etc.
https://www.vaughan.ca/residential/recreation-programs-and-fitness/events/concerts-park
Maybe they could get a bunch of those outdoor heater things and try it outside of summer, if they thought it might work better at times of the year when there's not much outdoor stuff like that happening. A temporary outdoor stage might not be a great idea in the middle of winter with the possibility of snow, but they could also build one of those more permanent ones like at Woodbine Park if they thought it would be worth it. Or maybe just have it inside if one of the big abandoned department store spaces can be cleared of the junk put in there by the former owner.
Maybe there was no serious bid this time? If so, do they just wait a few months and try again?
I wonder if a new owner would change the name of the mall? Despite having been Woodbine since it opened, it's always seemed awkward and slightly confusing to imply the non-existent connection to the racetrack, perhaps more now that retail may be built there.
The mall will most likely be flattened
Only if and when new owners wanted to demolish it, after they get plans approved to build something else there.Looking at that directory and noticing all the vacancies, you have to wonder how soon until this mall is demolished.
When Sunpact Holdings (Chris Hinn) purchased the Woodbine Centre from Cadillac Fairview several years ago, the sale price was estimated at $150 million.Was told by a worker in a store that the mall was bought by a company that is looking at improving and then flipping the mall in under 5 years.
I thought 2025 Kipling (The Canadian Tire) went for $21 million; not $125. All the listings are down since it sold.When Sunpact Holdings (Chris Hinn) purchased the Woodbine Centre from Cadillac Fairview several years ago, the sale price was estimated at $150 million.
On a similar note, I recently read that the nearby Canadian Tire on Kipling and Rexdale just sold for a relative figure of $125 million.
Unlike Woodbine, Canadian Tire's property remained dormant for about a year before an eventual sale was reached. The difference being a change of address
(Canadian Tire), and a forced receivership for unpaid loans (Woodbine).
The concept of flipping the Woodbine isn't a new one. While I can't say how much the Woodbine supposedly sold for, I read that Mr. Hinn was originally looking to
get $600 million (pre-receivership) for Woodbine based on the mall being situated next to the Woodbine Racetrack. From a business perspective, Mr. Hinn believed
the Woodbine's market value was worth a greater sale price in response to the Woodbine Racetrack's 2 billion dollar renovation plans.
I visited the Woodbine earlier this month, and instantly felt the reduced air conditioning. Other than a slight draft lofting through the Fair, the stuffy conditions inside
the mall were only matched by the summer heat blistering outside it. Just by walking around, I could see why ride attendants would be miserable with these working
conditions.
I only hope the new owners begin renovating the mall shortly. The corpse of the Woodbine Centre definitely needs a positive turning point in our Urban Toronto discussions.