Results tagged “riocan”

Who is moving into the main space in the development at Queen Street West and Portland, abandoned two months by Home Depot? Torontoist got a tip yesterday afternoon that a new primary retail tenant has been locked down, but according to RioCan, the property's keepers, that's just not the case.

According to the Canadian Press, Home Depot (whose slogan, we know, is not "help is close to home") is "paying an unspecified amount in cash" to back out of their lease to part of RioCan's controversial development at Queen West and Portland. RioCan has stated that it's "reviewing the possibility of repositioning the retail portion of the development to reflect a new retail footprint," which is just a fancy way of saying that they're gonna find someone or several someones else to pay for and use the space; RioCan's CEO told the CP that "We are optimistic that we will re-lease this part of the retail component and do not expect construction of the project to be delayed." The condos that are part of the project are already under construction now, and are, again according to the CP, sixty percent sold.