Target is opening a massive flagship store near the Toronto waterfront
Target’s dismal financial performance in Canada certainly doesn’t seem to have affected the retail giant’s north-of-the-border ambitions. In fact, the company is powering through recent setbacks by building a massive new outlet in downtown Toronto. The new store is slated to open in Fall 2016, in a development called Harbour Plaza located between Union Station and the lake. “It will be one of our largest stores in the entire country, ” said Target Canada CEO Tony Fisher, who spoke to the Star.
Though most of the company’s urban outlets are smaller and less plentifully stocked than their suburban counterparts, Toronto’s new Target will be an exception—one meant to capitalize on the amount of residential construction in the area and the general absence of shopping opportunities. Or as Target puts it: “Because of its location, the limited availability for new retail, minimal existing competition and significant market growth, this development offers a very rare and strategic opportunity for us.”
For those who plan on living in one of the 15,000 condo units being constructed within a mile of the new store, Target could be a convenient addition to an area that’s currently something of a retail dead zone. And city-dwellers who decry the proliferation of big-box retailers in the downtown core will be pleased to know that Target has made some effort to promote local talent: Toronto designer Sarah Stevenson’s flowery collection hits Target shelves this weekend.