Posted 10.16.14 @ 15:38
Good news for everyone who loves to shop! Oakville Place is set to undergo a $30 million makeover over the next few months. RioCan Oakville Place’s renovation will not only give Oakville’s largest shopping mall a better layout, but it also means an additional 30 stores plus a much-awaited Pusateri’s Fine Foods.
For those who live near the shopping mall at the corner of the Queen Elizabeth Way and Trafalgar Road, renovation will not be starting until summer 2015 so don’t get too excited folks!
Exciting Additions to Watch Out For
Edward Sonshine, RioCan’s CEO, says that the shopping centre is very pleased to have high-quality retailers like Pusateri’s appreciating the influx of more tenants who have recently invested because of the loyal shoppers who make the heart of the thriving shopping centre. Being chosen as the home of the 4th Pusateri store is indeed a great news, as the family-owned business is very picky where they place their merchandise in their 45 years of business existence. In fact, this will be the only time they’ll have a store outside of Toronto as the president of the company Frank Luchetta says.
The new Oakville Pusateri store is expected to create an estimate of 150 jobs. It is also going to be two levels high and have an area of 18,000 square feet. The store would be situated in the current location of the Shoppers Drug Mart and the projected opening date is just prior to the holiday season of 2015.
Oakville Place Re-Merchandising Strategy
For those who are not aware, Oakville Place was purchased by RioCan about 18 months ago. It was then that a re-merchandising strategy was devised to give Oakvillians a better shopping experience. Jeffery Stevenson, RioCan’s vice-president of leasing says that Pusateri’s was one of the companies approached by the shopping centre to help lead the re-merchandising strategy which will be enjoyed by everyone in the next few years. He further states that the goal is to bring in more good names and brands which are not yet available in Oakville and who are leaders in the markets they play in.
Although the new Pusateri’s store is the core of Oakville Place’s re-development, about 30 other stores, including U.S retailers are bound to be a part of the new and improved Oakville Place.
Part of the Oakville Place transformation is to convert it into a concierge fashion experience without the need to expand the building’s existing structure. The focus is more on the interior renovation and offering better merchandise to local customers by setting aside the upper level to cater to footwear, women’s fashion, and accessories.
The Not So Long Wait
Stevenson says that RioCan will need about 24 to 36 months to execute the redevelopment plan but some stores can open up business in Oakville as early as spring 2015 with the majority probably timing their opening around the latter part of 2015 in time for the holidays and Pusateri’s opening.
Mall renovations are not new to Oakvillians as Toronto’s Sherway Gardens and Mississauga’s Square One Shopping Centre recently have undergone renovations as well. Once Oakville Place’s re-development is completed, the shopping centre is envisioned to look like Toronto’s Bayview Shopping Centre, a sure treat to residents of Oakville and nearby areas.
Are you looking for a Canadian town with city-like amenities and establishments? Oakville’s close-knit neighbourhoods offers suburban living with city-like amenities nestled amongst lots of green space and the waters of Ontario Lake. Contact us and allow us to help you find your next home in Oakville!