RioCan Commences With Revamp Of Yonge Sheppard Centre
RioCan REIT and KingSett Capital have launched construction on the redevelopment of RioCan Yonge Sheppard Centre, adding 104k SF of retail to the aging complex, with new anchors Longo’s and LA Fitness (50k SF each). The revamp of the centre, which sits atop the nexus of two subway lines, includes a new 39-storey, 400-unit residential tower, slated to begin construction mid-2017, RioCan said last week.
In other developments, the REIT said a 7k SF LCBO will occupy the first floor and basement of 491 College St, acquired in a JV with Allied Properties REIT. And the building's heritage facade will be "meticulously restored.”