Swathes of retail space in Canada’s largest city are sitting empty after tenants were evicted or left, only for development projects to be put on hold amid a chill in the condominium market.
It’s an unanticipated consequence of the condo slowdown, and there are dramatic stories out there: A project to redevelop the 32-acre Cloverdale Mall in Etobicoke, for example, was cancelled by Mattamy Homes and Quadreal Property Group when only 10 per cent of the condos were sold and the mall is now actively courting tenants back on its website.
