Hopedale Development Proposal Submitted
By Nolan A Machan for OakvilleNews.org
OAKVILLE, ON, 2020 -
The owner, Calloway REIT (Real Estate Investment Trust) of what was Hopedale Mall and is now named South Oakville Centre, is going through a development application process. The intent is to have the eastern section of the property re-zoned from commercial to residential.
South Oakville Centre is located at the corner of Third Line and Rebecca Street.
When Calloway REIT first purchased Hopedale Mall, they did an extensive remodel. It was rebranded as the South Oakville Centre. One of the major tenants, El Spero’s Restaurant left and moved into Bronte Village. The LCBO moved out of the mall and into the free-standing structure at the south-west corner of the property. Target moved in, and the highly successful Catch Hospitality Group opened Tavolo Restaurant.
The biggest blow to South Oakville Centre occurred when Target Corporation closed down Target Canada in early 2015. Target was an anchor tenant for the property.
According to their development application, the rationale for re-zoning part of the property from Commercial to Residential is due to the changing landscape of retail in Canada. They have been unsuccessful in leasing out the old Target location, along with 25 of the 50 other retail locations Currently, South Oakville Centre has just under 279K square feet of retail space.
South Oakville Centre name-brand tenants include:
1. CIBC
2. Goodlife Fitness
3. Metro
4. Northern Reflections
5. Tim Hortons
6. TD Bank
7. Shoppers’ Drug Mart
8. Winners
9. The Beer Store (free standing building on the south-east corner of the property)
The remainder of the tenants are independent retailers.
Hopedale development proposal
Calloway REIT’s mixed-use proposal consists of townhouses and a retirement residence. The old Target retail space along with the Beer Store would be demolished. Backing onto Rebecca Street from east to west would be a townhouse, roadway, and then the retirement residence. The remainder of the centre would be kept
