Toronto Debates Need for Waterfront Mega-Mall
Some say that there is simply not enough retail in existence now; versus U.S. cities, at least, Toronto has fewer malls in both numbers and square footage. Dana Flavelle explores why that might not necessarily mean it's underserved.
''In the U.S., 20 per cent of the 2,000 malls are failing and a staggering half a billion square feet of retail space lies empty. Even Wal-Mart has abandoned 400 stores across the U.S.,' the high-profile group of Canadian urban planners and architects noted in their open letter protesting Ford's Port Lands plan.
Canada has fewer malls because most are owned by conservatively managed pension funds and the approvals process in Canada is more onerous than in the U.S., industry experts said."
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Published on Tuesday, September 20, 2011 in
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