Metropolis (Toronto development)

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Metropolis


Location	Toronto, Ontario, Canada
Opening date	Spring 2008 (tentative)
Developer	PenEquity
Management	PenEquity
Owner	PenEquity
No. of stores and services	n/a
No. of anchor tenants	4
Total retail floor area	360,000 ft² (33,444 m²)
Parking	n/a
No. of floors	13 (10 above ground & 3 concourses)
Website	http://www.metropolis.ca

Metropolis is a notoriously delayed retail and entertainment complex on the north-east corner of Yonge and Dundas streets in Toronto. The unfinished project sits on a large parcel of prime land in the city's commercial core, on the north side of Dundas Square. The project was approved in 1998 and construction hording went up soon after, with hopes of seeing the building open in 2000. Construction, however, only began in 2003 and has suffered shutdowns and delays; its developer, Pen Equity, now claims the project will be finished in spring 2008. The structural steel for the project, fabricated by Walters Inc. of Hamilton (the same company who completed the steel at Libeskind's ROM, also erected by Ironworkers Local 721), was completed November 2006.

Renderings of the project depict a four-story building topped by an imposing advertising scaffold - curvelinear and several stories high itself - facing the Square.

The project is being built around and over an existing parking garage belonging to the adjacent Ryerson University; in exchange for the air rights to build over its land, Ryerson will gain use of the AMC theatres as classrooms during daytime hours.

This project is being developed by the same company, Pen Equity, that developed the Entertainment Centrum retail centres.

1 Anchors
2 Effect on Local Economy and Tourism
3 Retailers
- 3.1 Stores
- 3.2 Restaurants/Food Court
4 External links

[edit] Anchors

Building under construction. (Taken November 5th, 2006)

All tenants are subject to change as the complex does not officially open until spring 2008. Virgin Megastore was originally one of the anchor tenants, but later withdrew from the project.

Adidas Sport Performance Store - Adidas will open its store directly on the corner of Yonge & Dundas. The store will feature Adidas products such as footwear and accesories relating to sports.
AMC Theatres, - AMC will anchor the entertainment portion of Metropolis with a 24 screen theatre. The AMC 24 located in Metroplolis is set to be a flagship of its Canadian operations.
Future Shop - Future Shop is set to launch its most up-to-date and technologically advanced store, of the over 110 its currently operates coast to coast.
Shoppers Drug Mart - This anchor, located below street level, will operate in a 11,300 square foot store.

[edit] Effect on Local Economy and Tourism

Metropolis is the flag ship commercial development in Toronto's young but bustling Dundas Square. Speculators believe Metropolis will likely stir new commercial and tourist growth in the Toronto down town area. The growth of commercial prospertity in other more mature commercial districts such as New Yorks Times Square, Shanghai's Nanjing Road and Tokyo's Shibuya have served as the inspiration and are the usually the basis of these claims.

This being said, Toronto has several other major, world-class shopping districts, centred around Yorkville Midtown, and several areas along Queen st.