- What Crombie REIT and Sobeys are looking to bring a mixed-use grocery and residential build to Toronto’s East End
- Why The project would redevelop the existing Foodland and add 60 homes
- What next An application filed with the city is awaiting approval
Crombie REIT and Sobeys Capital are looking to redevelop a Foodland in Toronto’s Beaches neighbourhood, along with two adjacent properties, into a mixed-use midrise development.
The proposed development would see a six-storey building with 60 residential units and a 12,000 sq ft grocery store rise at the northwest corner of Queen Street East and Lee Avenue. The developers have not yet decided whether the residential units will be rentals or condominiums.
Plans do not specify what grocery store will occupy the new space, which will be nearly three times larger than the existing Foodland. Sobeys is a subsidiary of Empire, which, in addition to the Sobeys and Foodland brands, owns more than a dozen other grocery subsidiaries including Farm Boy, FreshCo, Safeway and IGA.
The proposed building, designed by RAW Architects, would have a three-storey, brick-clad streetwall that steps back, with terracing above. The residential units would comprise 40 with one bedroom, 14 with two bedrooms and six with three bedrooms, ranging from 515 sq ft to 1,265 sq ft.
A total of 257 sq m of indoor and outdoor amenity space is planned, including a 1,500 sq ft terrace on the fifth floor. An underground garage would provide 33 spaces for residents.
Construction is expected to take 18 to 24 months.
Sobeys bought the Foodland property at 2040 Queen Street East in 2008 for $2.7m, followed by the adjacent building at 2038 Queen East in 2014 for $4m. The building at 2026 Queen East is owned by Crombie. All three properties are occupied by low-rise commercial buildings, which would be demolished.
Empire has a 41.5% interest in Crombie, and the two have partnered numerous times on grocery-anchored developments. Crombie also has acquired various retail portfolios from Empire over the years, paying $428.5m for a 61-property portfolio in 2008 and $418m for a 19-property portfolio and a 50% interest in three distribution centres in 2016.
