Toronto-based property manager Cadillac Fairview, a subsidiary of The Ontario Teachers' Pension Plan Board, is investing $70 million in upgrading its Fairview Park mall in Kitchener.
The first phase of the project, which has been dubbed the CF Grand Market District, will include 180,000 square feet of new or repurposed space, pedestrian-friendly streetscape, as well as a terminal for the new light-rail transit system.
Cadillac Fairview is planning to transform the mall from a traditionally enclosed retail mall format to a mixed-use model. There are also long-term plans for additional office, residential and retail space, restaurant, as well as a parking structure.
The first phase of the project is expected to start in the spring and expected to be completed in 2021.