December 15, 2014
News of First Capital Realty’s upcoming $100 million renovation of the Hazelton Lanes shopping centre in Yorkville surfaced last summer. Now, it sounds like the developer has even more extensive plans for the posh neighbourhood. Apparently, the mall’s revamp is just the first step in a much larger redevelopment strategy. Retail Insider reports that First Capital has already snatched up most of the properties on the north side of Yorkville Avenue, and has plans to purchase most of the commercial real estate on Cumberland Street as well. According to the retail news website, First Capital’s goal is to turn the area into a “world-class entertainment district.”
As for what’s set to change within the Hazelton complex itself, shoppers can look forward to a grand new entrance on Yorkville Avenue, which will turn two existing storefronts into a breezy, indoor-outdoor walkway with a glass ceiling and a giant retractable door. Gym rats can rest assured that Equinox won’t be leaving the building; however, it will be moving upstairs to the third level of the concourse, where it will occupy 20,000 square feet of former office space. (As expected, Whole Foods and TNT will also be staying put.) Generally, the plans show a brighter, modern makeover of the space, which currently has a pretty dated feel. And, of course, the mall will be getting a brand new name—Yorkville Village—to match its shiny new image. Click here to take a virtual stroll through the revamped space.
by Jean Grant