Woodbine Centre

[SubHuman]

... The concept of flipping the Woodbine isn't a new one. While I can't say how much the Woodbine supposedly sold for, I read that Mr. Hinn was originally looking to
get $600 million (pre-receivership) for Woodbine based on the mall being situated next to the Woodbine Racetrack...

The problem with hoping to flip it is that it's based on nothing but wishful thinking. Fixing up a few things almost certainly won't make CF or some other major company suddenly more eager to buy it. If they had any interest in buying it, they would have done it and improved it themselves.

 

[swigg]

Are there any articles about the sale of 2025 Kipling? Saw that the fencing was removed around the property recently.

 

[mark.a.m]

When Sunpact Holdings (Chris Hinn) purchased the Woodbine Centre from Cadillac Fairview several years ago, the sale price was estimated at $150 million.
On a similar note, I recently read that the nearby Canadian Tire on Kipling and Rexdale just sold for a relative figure of $125 million.

Unlike Woodbine, Canadian Tire's property remained dormant for about a year before an eventual sale was reached. The difference being a change of address
(Canadian Tire), and a forced receivership for unpaid loans (Woodbine).

The concept of flipping the Woodbine isn't a new one. While I can't say how much the Woodbine supposedly sold for, I read that Mr. Hinn was originally looking to
get $600 million (pre-receivership) for Woodbine based on the mall being situated next to the Woodbine Racetrack. From a business perspective, Mr. Hinn believed
the Woodbine's market value was worth a greater sale price in response to the Woodbine Racetrack's 2 billion dollar renovation plans.

I visited the Woodbine earlier this month, and instantly felt the reduced air conditioning. Other than a slight draft lofting through the Fair, the stuffy conditions inside
the mall were only matched by the summer heat blistering outside it. Just by walking around, I could see why ride attendants would be miserable with these working
conditions.

I only hope the new owners begin renovating the mall shortly. The corpse of the Woodbine Centre definitely needs a positive turning point in our Urban Toronto discussions.

Chris Hinn was the third owner. Another company purchased it from CF and then sold it to Sunpact

 

[J-M-Z]

Chris Hinn was the third owner. Another company purchased it from CF and then sold it to Sunpact

Out of curiosity, would you happen to know the name of the second company that purchased the Woodbine before Sunpact? I'm going to take a guess and say RIO Can.

The problem with hoping to flip it is that it's based on nothing but wishful thinking. Fixing up a few things almost certainly won't make CF or some other major company suddenly more eager to buy it. If they had any interest in buying it, they would have done it and improved it themselves.

At this juncture, I'm assuming the new company intends to continue using the Woodbine as a shopping plaza for the time being. Rightfully so, the Woodbine is in desperate need of renovations, and a new facelift
would be greatly welcomed.

For starters, I would remove the animatronic dinosaurs. Yes, they're ultra-expensive and fit right in with the rest of the Fair's aesthetic, but being at the mercy of a kid-friendly environment has left them vulnerable to
key slashes, missing teeth, puncture wounds, super-glued jaws, and even bandaged limbs tied together in casts. Yes, kids will be kids, and the general public are an unpredictable bunch, but general upkeep should
be invested into the Fair. After all, it's the Woodbine's cash cow.

 

[kade1064]

Was told by a worker in a store that the mall was bought by a company that is looking at improving and then flipping the mall in under 5 years.

which company bought woodbine mall, maybe we can email the company and tell them what improvements that can be made to make the mall better!!!!

 

[kade1064]

Out of curiosity, would you happen to know the name of the second company that purchased the Woodbine before Sunpact? I'm going to take a guess and say RIO Can.



At this juncture, I'm assuming the new company intends to continue using the Woodbine as a shopping plaza for the time being. Rightfully so, the Woodbine is in desperate need of renovations, and a new facelift
would be greatly welcomed.

For starters, I would remove the animatronic dinosaurs. Yes, they're ultra-expensive and fit right in with the rest of the Fair's aesthetic, but being at the mercy of a kid-friendly environment has left them vulnerable to
key slashes, missing teeth, puncture wounds, super-glued jaws, and even bandaged limbs tied together in casts. Yes, kids will be kids, and the general public are an unpredictable bunch, but general upkeep should
be invested into the Fair. After all, it's the Woodbine's cash cow.

can we have shoppers drug mart, come back to woodbine mall!!!!

 

[cslusarc]

I hope we will hear soon about a multiuse redevelopment of Woodbine Centre. I think a multiuse redevelopment could include a Shoppers' Drug Mart if it includes a 2nd floor multi-physician medical clinic.

 

[kade1064]

I hope we will hear soon about a multiuse redevelopment of Woodbine Centre. I think a multiuse redevelopment could include a Shoppers' Drug Mart if it includes a 2nd floor multi-physician medical clinic.

well, who is the new owner of Woodbine Mall, WE NEED A NAME/COMPANY...I hope its Morgaurd/rio can or something!!!

 

[RGB_11]

I hope we will hear soon about a multiuse redevelopment of Woodbine Centre. I think a multiuse redevelopment could include a Shoppers' Drug Mart if it includes a 2nd floor multi-physician medical clinic.

THIS, all very good. A Medical centre would be smart to fill some space, along with SDM, working together. The theatre needs to be at it's best, comfortable seats, better washroom (than they have currently) and all.
Good to see Hudson's Bay and Dollarama. More well known stores need to find their way into the mall. There is hope for this mall yet...

 

[Chimpur]

Noticed last time I was in the mall that there is still a sign directing you to Sears. Hmmm it’s been awhile lol!

 

[J-M-Z]

In regards to the former Canadian Tire location at Rexdale and Kipling, an on-site supervisor mentioned that the existing building is staying
intact, while a tile/flooring company is moving in.

Photo credit: Terry McCarthy


According to other posters over at Vintage Rexdale, the tile/flooring company will be a temporary tenant, as the property owners wait for
redevelopment permits (over the course of three years) to convert the land into condos/townhouses.

The whole process, if it indeed will take place, reminded me of the Woodbine Centre's proposed renovations/flipping plans over the course
of the next five years.

Perhaps the Woodbine will also suffer a similar, inevitable fate.

 

[swigg]

In regards to the former Canadian Tire location at Rexdale and Kipling, an on-site supervisor mentioned that the existing building is staying
intact, while a tile/flooring company is moving in.

View attachment 590289
Photo credit: Terry McCarthy


According to other posters over at Vintage Rexdale, the tile/flooring company will be a temporary tenant, as the property owners wait for
redevelopment permits (over the course of three years) to convert the land into condos/townhouses.

The whole process, if it indeed will take place, reminded me of the Woodbine Centre's proposed renovations/flipping plans over the course
of the next five years.

Perhaps the Woodbine will also suffer a similar, inevitable fate.

Anything beats the location turning into yet another eyesore truck storage lot much like down the street near staples/woodbine centre.

 

[J-M-Z]

Anything beats the location turning into yet another eyesore truck storage lot much like down the street near staples/woodbine centre.

Truck storage lots have always seemed like a temporary fixture. The old Sears at Rexdale and Islington was much of the same. As was the Rockpile East (Danforth & Eglington)
before being demolished and turned into townhouses.

I'm interested to see if the Woodbine shuts down temporarily with the change of ownership. It would seem that most of the stores and employees were controlled by the previous
owner Mr. Hinn.