A condo development will kick-start QuadReal’s Cloverdale Mall reboot. Mattamy Homes plans to build on a standalone 2.3-acre site at 2 and 10 The East Mall Crescent. A 32-storey tower and an 8-storey mid-rise will total 500-plus condos and 2,400 square feet of retail.

Cloverdale Mall was built in 1956 as an open plaza in Etobicoke. In the 1980s, it was converted into an enclosed mall, undertaking major renovations in 2006. Soon, it will take on a different life as a 32-acre shopping centre, with a vibrant, sustainable, and innovative mixed-use urban community.

Mattamy will acquire a partial interest in the site and will be the execution partner for development, construction, and sales and marketing for the condo project. QuadReal will maintain long-term ownership of the retail and purpose-built rental components.

David Stewart, president of Mattamy Homes GTA Urban Division, said QuadReal is a key partner in his company’s plan to deliver 13,000 condo sales within the next five years.