Cadillac Fairview Corp Ltd has invested $77 million in CF Masonville Place, a shopping mall located in London, Ontario. The investment will support the largest effort to modernize the complex since it opened in 1985. Based in Toronto, Cadillac Fairview is the real estate investment arm of Ontario Teachers’ Pension Plan.
CF Masonville Place unveils $77 million investment for 2016
New stores, dining options and renovations among the many changes coming to London’s premier shopping destination
LONDON, ON, March 29, 2016 /CNW/ – Cadillac Fairview announced today a $77M investment in CF Masonville Place. This exciting redevelopment will elevate the shopping experience for London consumers by modernizing the entire shopping mall with elegant interior upgrades – while ushering in a roster of first-to-market retailers and enhanced dining options.
“This investment marks the single largest renovation of CF Masonville Place since opening in 1985,” said Finley McEwen, Senior Vice President, Development, Cadillac Fairview. “This redevelopment reaffirms our dedication to providing a premium shopping experience for our local and greater London area consumers, and our commitment to investing in the City of London.”
The redevelopment features a two-level mall expansion into the former Sears store, which previously occupied an area of approximately 127,000 square feet. Several best-in-class retailers will be arriving, including the first ZARA in market, H&M, Sport Chek / Atmosphere, Hot Topic and Disney Store. With the redevelopment project already underway, the shopping centre has recently welcomed Sephora, Ivivva, Lush and Saje to the mix.
The addition of premium retailers marks the next evolution of retail in London and further demonstrates CF Masonville Place’s leadership in bringing the most desired brands to the city. Other retail, dining and entertainment destinations will be announced throughout the coming months, as well as a further investment in redevelopment of the former Target space.
New dining options
In addition to new retailers, consumers will soon experience new dining options at CF Masonville Place. The restaurant roster will be enhanced with a mix of popular premium casual and quick service restaurants including aroma espresso bar with its eclectic Mediterranean-inspired menu and signature hot and cold drinks.
Creating beautiful, inviting spaces
To complement the retail expansion, interior renovations and enhancements including the addition of a centre court staircase will be visible. Installation of quality building materials will include Italian porcelain tile as well as stainless steel and glass guardrails throughout the shopping centre.
The renovation and expansion work is currently underway and is expected to be completed in November 2016. Amidst the construction within the shopping centre, consumers will have uninterrupted access to the other 140 stores and services currently available at CF Masonville Place.
As part of Cadillac Fairview’s ongoing commitment to London and its surrounding area communities the team at CF Masonville Place is in the process of hiring a consultant to conduct a building accessibility audit. With a focus on inclusiveness, our objective is to find ways to enhance accessibility for all visitors within the centre with respect to both universal access designs features as well as the type of services offered.
“Our goal is that with the support of industry experts and our in-house resources that we can not only meet the requirements of the Accessibility Ontario Disability Act, but exceed the standard requirements,” said Brian O’Hoski, General Manager, CF Masonville Place.
CF Masonville Place recently launched CF SHOP! TEXT, a text-message-based concierge service which gives customers access to shopping tips and tricks with the click of a button. Consumers can text CF Masonville Place either through their CF SHOP! mobile app or at 226-646-3440 for help with any of their shopping needs.
CF Masonville Place shoppers also now enjoy access to upgraded Wi-Fi and conveniently located mobile charging stations throughout the centre, so shoppers can stay connected during their visit and receive the digital support they need without having to worry about a slow connection, low battery, or missing out on a great deal.
About Cadillac Fairview
Cadillac Fairview is one of the largest owners, operators and developers of best-in-class office, retail and mixed-use properties in North America. The company also invests in retail, mixed-use and industrial real estate in Brazil, Colombia and Mexico. Valued at more than $29 billion, Cadillac Fairview owns over 37 million square feet of leasable space at 71 properties in Canada, including landmark developments, such as Toronto-Dominion Centre, CF Toronto Eaton Centre, CF Pacific Centre and CF Chinook Centre.
Cadillac Fairview has been wholly owned by the Ontario Teachers’ Pension Plan since 2000. Ontario Teachers’ is a diversified global investor and administers the pensions of more than 300,000 active and retired school teachers.
For further information: Katherine Murdick, Katherine.Murdick@northstrategic.com, 647-978-6077
Photo courtesy of Cadillac Fairview Corp Ltd