Choice Properties Real Estate Investment Trust Files Redevelopment Plans for Golden Mile Shopping Centre in Toronto

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[{"type":"text","content":"\n\n\n\nChoice Properties Real Estate Investment Trust Files Redevelopment Plans for Golden Mile Shopping Centre in Toronto\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Jan. 5, 2017\n\n\n\nTORONTO, Jan. 5, 2017 /CNW/ - Choice Properties Real Estate Investment Trust (\"Choice Properties\") (TSX: CHP.UN) announced today its plans to revitalize and redevelop its Golden Mile Shopping Centre at 1880 Eglinton Ave. E, Toronto, Ontario (\"the Golden Mile Site\" or the \"Property\"). Choice Properties has filed an Official Plan Amendment with the City of Toronto to transform the Golden Mile Site into a transit-oriented mixed use community. Choice Properties' proposal envisions a connected network of new streets and open spaces featuring retail shops, anchored by a Loblaw bannered food store, a range of new housing types and employment uses that integrate with, and complement the City of Toronto's (the \"City\") investment in transit along the Eglinton Crosstown corridor.\n\n\n \n \n\n \n\"The redevelopment of the Golden Mile Site is a perfect example of how Choice Properties is building for the future based on its strong foundation of well-located properties,\" said John Morrison, President and CEO of Choice Properties. \"For more than half a century, the Golden Mile Site has provided shopping and services to neighboring residences. We are looking forward to redeveloping the Property to provide a compelling retail experience while enhancing the sense of community as the City continues to evolve and grow.\"\n\nSituated on the north side of Eglinton Ave. E between Victoria Park Ave. and Pharmacy Ave., the Property comprises 237,000 square feet and is anchored by a No Frills food store. The Golden Mile Site spans 19 acres of land and is bookended by two future LRT (Light Rail Transit) stations at Victoria Park Ave. and Pharmacy Ave.\n\nWhen it was built in the mid-1950s, the Golden Mile Site was a quintessential suburban community mall worthy of Queen Elizabeth II's visit in 1959. Today, it provides a unique opportunity for Choice Proper...

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