CF Sherway Gardens

CF Sherway Gardens completes $550-mil redevelopment

Friday, August 18, 2017

The new south wing at CF Sherway Gardens is now complete, topping off a $550 million redevelopment and expansion of the mall, which began in 2013.

The 250,000-square-foot addition, officially opening on August 29, follows the north expansion of the mall, which Cadillac Fairview celebrated in 2015.

This latest phase features significant aesthetic and design upgrades, the full restoration of the mall’s iconic white tent roof and a re-merchandising of 90,000 square feet of existing retail space.

Via the new expansion, Nordstrom and Zara will debut at the centre’s south wing, which will also welcome Saje, Nike, MAC, Loding, Squish, BonLook, L’Intervalle and The Danish Pastry House. Saks Fifth Avenue, Kate Spade and Indigo’s new concept store are a few stores that have already set up shop.

“Along with a revitalized merchandise mix, CF Sherway Gardens is demonstrating an intensified commitment to delivering a unique shopping experience,” said Finley McEwen, Cadillac Fairview’s Senior Vice President of Development. “We started with interior enhancements, introduced new lighting and public amenities, and are now providing a range of upscale dining options and new digital offerings – delivering on our commitment to providing guests with an immersive, premium shopping environment.”

General Manager Andy Traynor says Cadillac Fairview is the only Canadian shopping mall operator with two properties housing both Nordstrom and Saks Fifth Avenue stores.

“Beyond the physical expansion and upgrades, our revitalization is about adjusting our retail mix to mirror the expectations of our shoppers,” he says. “This means building on our roster of best-in-class brands, which includes much sought-after premium and luxury retailers.”

Retailers who opened in the first phase of the project have had generally successful openings, even with ongoing construction and a significant amount of parking being offline.

For the south wing, renovations and retrofits within individual store spaces are also planned and will continue as additional retail brands are introduced, along with new consumer experiences.

“We’re constantly improving our properties,” says McEwen. “This phase of construction concludes the major redevelopment and means parking facilities and the mall are 100 per cent open for business. Even as we speak now, there are continued studies underway for future phases.”

Cadillac Fairview will be turning over another 15,000 square feet of retail space to new clients just after Christmas.

Canadians spent a total of $532 billion on retail goods in 2016, McEwen notes. Out of that, about $344 billion, or 65 per cent, could be considered sales of categories or goods found in shopping centres, and of that $10 billion were luxury sales.

“In this competitive and ever-evolving marketplace, we’ll maintain a dynamic approach to constantly adjusting our thinking to anticipate and stay ahead of trends in retail,” he adds.

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