The redevelopment of Sunybrook Plaza, which may still be two or three years away, will see the new 16 and 11 tower residential complex offered solely as rental apartments. There will be about 332,000 square feet of such relatively high-end accommodation built into the project along with some 43,000 square feet of retail space. The subject was raised Wednesday at the Leaside Property Owners Association meeting by Councillor Jon Burnside. Sunnybrook Plaza has operated for many decades under the ownership of the RioCan Real Estate Investment Trust Company. Earlier this year, RioCan sold a half interest in the redevelopment to Concert Real Estate Corporation. On completion of the new complex, Concert will operate the residential side of the business and RioCan the retail side. Councillor Burnside said the rental option might give area residents an opportunity to stay in the community after selling their homes without having to buy a major asset.
