The Bayview Village Shopping Centre at Bayview ave. and Sheppard Ave. E. has been sold by the Orlando Corporation to a group representing the British Columbia Investment Management Corp. The conditional sale carries a hefty $500-million price tag. It is said to be the largest single property sale in Canada this year. The mall is relatively small — only 440,000 square feet. For decades the dynamic Orlando management led by billionaire Carlo Fidani has kept the Willowdale retail hub up to date with store openings and constant renewal. Many will remember the demolition of the K-Mart Store. Analysts are speculating that the select location on a subway in what is now north-central Toronto has potential for residential development. According to the Financial Post, we may see proposals to build condos in the parking lot. This is speculation however. Bayview Village was built in the 1960s as an open air mall. In 1977 a movie theatre was added and the mall was roofed over. It was one of the numerous post-World War II small neighbourhood community malls that were built in the inner suburbs of Toronto where residential neighbourhoods were growing. All of these community plazas were strip malls with one or two anchors.Orlando sells Bayview Village for $500 million
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The Bayview Village Shopping Centre at Bayview ave. and Sheppard Ave. E. has been sold by the Orlando Corporation to a group representing the British Columbia Investment Management Corp. The conditional sale carries a hefty $500-million price tag. It is said to be the largest single property sale in Canada this year. The mall is relatively small — only 440,000 square feet. For decades the dynamic Orlando management led by billionaire Carlo Fidani has kept the Willowdale retail hub up to date with store openings and constant renewal. Many will remember the demolition of the K-Mart Store. Analysts are speculating that the select location on a subway in what is now north-central Toronto has potential for residential development. According to the Financial Post, we may see proposals to build condos in the parking lot. This is speculation however. Bayview Village was built in the 1960s as an open air mall. In 1977 a movie theatre was added and the mall was roofed over. It was one of the numerous post-World War II small neighbourhood community malls that were built in the inner suburbs of Toronto where residential neighbourhoods were growing. All of these community plazas were strip malls with one or two anchors.