Toronto to see new luxury retail development
today Sep 27, 2016
Greybrook Realty Partners Inc. announced last week plans to redevelop a property located at 101 Yorkville Avenue in Toronto, into a luxury retail development.
The 0.5-acre site, which is co-owned with First Capital Realty Inc., is situated in the heart of Toronto’s Yorkville neighbourhood. Upon completion, the development is expected to feature approximately 35,000 square feet of retail space and offer prime retail frontage along Yorkville Avenue.
Yorkville is well-known as an upscale shopping and dinning destination, and features a roster of global luxury retailers such as Louis Vuitton, Holt Renfrew and more.
“This asset’s location in one of Canada’s most desirable and sought-after retail destinations provides an extremely rare opportunity to acquire a one-of-a-kind asset of this calibre. We are delighted that the addition of this exceptional property will further enhance Greybrook’s portfolio of diversified investments,” says Peter Politis, CEO of Greybrook Realty Partners, in a news statement. “The redevelopment project will be tailored to meet leading international luxury tenants’ demanding requirements.”
First Capital will act as development, leasing and property manager for the retail project.
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