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.
Liquidation at Oakville's TARGET to start on February 5, 2015
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 (according to their online leasing information). Currently, South Oakville Centre has just under 279K square feet of retail space.
South Oakville Centre name-brand tenants include:
- CIBC
- Goodlife Fitness
- Metro
- Northern Reflections
- Tim Hortons
- TD Bank
- Shoppers' Drug Mart
- Winners
- 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, road way, and then the retirement residence. The remainder of the centre would be kept.
Image Credit: WZMH ArchitectsImage Credit: WZMH Architects
Townhouses
- Total number of units: 86
- Parking Spaces: 194 (22 visitors and 172 owner)
- Height: 2 to 3 stories
- Density: 35 unit per hectare
- Total land area: 2.4 acres
Retirement Residences
- Total number of units: 161 (131 independent supportive living and 30 assisted living)
- Height: 5 to 9 stories
- Parking Spaces: 93 (76 underground & 15 surface)
- Total land area: 1.07 acres
Complete Proposal
Calloway REIT (Hopedale Inc.) - 1515 and 1521 Rebecca Street - OPA 1625.01
Town Planning staff will continue to review the file and a public meeting TBD will be held at Town Hall to hear comments from the community. Watch for updates regarding dates and times.
You can also reach out to the Councillors for Ward 2:
- Cathy Duddeck ([email protected])
- Ray Chisholm ([email protected])