By Pepper Parr
August 1st, 2023
BURLINGTON, ON
An article came to us via a trusted source yesterday. It was about what owners of large malls are doing to change their business model. Are there opportunities for the owners of malls and some plazas in Burlington?
For more than 60 years, a beige and brown — and bland, by today’s standards — one-storey shopping centre has stood nestled at the corner of Highway 427 and Dundas Street West in Etobicoke. Set on 32 acres, the mall hosts flagship tenants like Winners, an abundance of mom-and-pop shops and a food court.
Cloverdale Mall has served the surrounding community well — but it won’t be around much longer, not in its current form, anyway.
Over the next decade — assuming the city of Toronto approves its development application — the mall is slated to undergo a massive transformation, with the introduction of 10 residential towers ranging from 17 to 48 storeys, 185,000 square feet of retail space, some 23,500 square feet of community amenities (including a daycare and community centre) and 3.8 acres of parkland.
Massive change expected to take place at the Cloverdale mall.
Where could that work in Burlington. There are two malls; Burlington Centre and Mapleview Mall. Both are going through some changes. Both have large parking lots.
There are a number of plazas that offer some opportunity for a change in the model they use.
Mapleview has very large spaces waiting for cars to park. And there are occasions when you can’t find a spot to park. There is little doubt that the people responsible for the profitability and the return earned on the asset are being carefully monitored.
The plaza at New and Guelph Line has potential is as well, however the units are individually owned and it would take a lot of work to get every one of them to sign on.
Not just hats – check out those gloves.
Change is afoot. Take a second look at those women wearing those hats. Can you even imagine something like that today?
What do the people of Burlington imagine will take place at the two large malls? And are there any opportunities for changes at some of the smaller plazas?
Parking spots waiting for cars – seldom filled.
