Target will open a 145,000 square foot store in Downtown Toronto. It's expected to open in October of 2016. It will be a full-sized Target store, as opposed to the smaller 'City Target' locations that have recently opened in the urban cores of cities such as Chicago, Los Angeles and Seattle.
The store will be located in a 200,000 square foot retail space at the base of Harbour Plaza's One York Street, a large multi-use project that will eventually feature a 35 story office tower as well as two 60+ story residential towers. Harbour Plaza will connect to the neighbouring Air Canada Centre as well as Union Station, via the city's PATH system.
The area surrounding the new Target store has seen an explosion of new condominium units. By the time Target opens in 2016, it's expected that there will be about 15,000 condo units within a one mile radius.
Target CEO Tony Fisher said: “It will be one of our largest stores in the entire country,” noting that the new store will be easily accessible from the Financial District.
“Because of its location, the limited availability for new retail and minimal existing competition, and significant market growth, this development offers a very rare and strategic opportunity for Target,” according to Target.