Canada's Condominium Magazine
Build Toronto, for the first time, developed its own shopping mall, dubbed “The Shops at Wilson Station”. Usually, Build sells off city property to developers, with revenues to go into capital funds and infrastructure. Notably, their first step into development was a joint project with Tridel for 10 York St. — but this was its first solo development project.
The mall, southeast of Downsview Airport, is on the market and will eventually be sold. For now, however, retail tenants have the actual City of Toronto as their landlord. The property is 4.5 acres and will bring in $800,000 in property taxes. Build Toronto chose to develop the property on its own due to a zoning designation as an “airport hazard area.”
The city cited 130 new jobs to the neighbourhood and boasted of the “tunnel connection to the TTC” along with more landscaping, bike and foot paths than usual for a retail development. A big part of neighbourhood plans for the area includes new affordable housing.
The area is set for residential development and is a mostly overlooked area considering it’s near a transit stop.