Upgrades to the commercial districts of Toronto, Ontario are always welcomed by retailers and CRE investors alike. And this time, it’s the Golden Mile district mixed-use redevelopment that’s set to undergo massive changes. This redevelopment project is expected to attract more visitors and more foot traffic. With everything going according to plan, Golden Mile’s multi-tower project is on the path to becoming the hottest part of town.
Plenty of Green Spaces
While the multi-tower mixed-use redevelopment project initially suggested a total of 3,500 m² for parks and open spaces, the area’s been increased to astonishing 5,694 m².
This comes as great news for retailers who are expecting an increase in foot traffic. After the coronavirus pandemic’s been put under control, consumers are expected to flock to parks and open spaces and enjoy greater freedom once again, which will inevitably lead to more interest in brick-and-mortar shops, cafes and restaurants nearby, and subsequently more spending.
What This Means for Canadian CRE Investors
With the proposed redevelopment project in Toronto, everyone’s showing greater interest in the Golden Mile district. From potential new renters in the area to business owners looking for new office space and excited retailers who are looking to increase their sales – everyone is excited to see this project succeed.
Now is a good time to invest in retail CRE in Ontario and receive a higher return on investment.