Cloverdale Mall and area due for a major facelift

Author of the article:

Neil Sharma  •  Special to Postmedia Network

Published Sep 20, 2024  •  2 minute read

The Clove will feature a 33-storey tower and adjoining nine-storey midrise at a standalone site on the eastern edge of the property.

QuadReal and Mattamy Homes kickstart $6 billion transformation of west-end neighbourhood with The Clove residential towers

Article content

A 32-acre community now in its seventh decade and in serious need of modernization to meet the needs of the 21st century Toronto is about to give way to a $6 billion flagship development courtesy of QuadReal.

Mattamy Homes has also been charged with developing the first residential phase, Totalling over 600 units, The Clove will feature a 33-storey tower and adjoining nine-storey midrise at a standalone site on the eastern edge of the property.

And being in the Dundas and Highway 427 neighbourhood, the site will be intensified.

“It’s a story of the city having grown up around us and the site needing to respond to its new context,” says Aaron Knight, QuadReal’s SVP of development for Eastern Canada.

“First and foremost, 32 acres of surface parking wasn’t an appropriate use for a site like this anymore, and we need to provide significant new housing. There will be new uses integrated with the existing community to the east, more mid-rise buildings that are more sympathetic to the surroundings, the acres of public park on East Mall that everyone can access readily.”

Article content

Article content

The residential component of the master plan has not yet been finalized, but amenities will include cycling and pedestrian pathways with connectivity throughout the property, Moreover, a Bus Rapid Transit system (BRT) will service the neighbourhood.

But it’s the retail component, of which there will be roughly 200,000 sq. ft, is what Knight says will attract people to QuadReal’s new community, which he anticipates will be completed in 10 to 15 years.

In addition to a Metro grocery store, LCBO and Rexall Pharmacy, the shopping centre will gradually turn into an open-air, weather-protected, mall — and all without obstructing commercial activity during construction.

Despite a soft condo market the last couple of years, Mattamy Homes has been undaunted. It’s successfully launched around nine projects since the market downturn, including Westbend Residences, Mile & Creek, Clockwork Condos, and Blvd. Q.

Article content

According to Quinn Samardzic, director of sales and marketing at Mattamy Homes, the company was relatively unscathed the last couple of years, due in large part to its trusted brand name. And at The Clove, specifically, the stars are aligning, says Samardzic,

“We don’t go in blindly, and we’re always refining our product and sales offering to come to market with our customers’ needs and preferences at any given point in time,” she said. “The fall market tends to be stronger, so we anticipated the launch in this season.”

She added that the market is showing signs of improvement. “Interest rates are now declining and poised for a rebound, hopefully, in the short and medium terms.”

When Cloverdale Mall is finally complete, it will be what Samardzic likens to a 15-minute city, which she believes will drive up its value.

“We’re building a community at scale there,” she said. “QuadReal intends to retain a lot of commercial spaces there indefinitely, so people who are buying into The Clove will effectively have a chance to invest alongside the strongest names in North America.”

Article content