Construction is well under way on a new development – RioCan Windfields – near Winchester Road and Simcoe Street North in Oshawa.
RioCan Windfields is a 160-acre mixed-use development. It will include 800+ residential units, complemented by 839,000 square feet of commercial space.
“We are excited to see that development is under way on RioCan’s new commercial and residential development that is just north of Ontario Tech University and Durham College. This development will create job opportunities for our residents and perfectly balance our city’s retail cluster,” said Oshawa Mayor Dan Carter.
Phase one of the commercial development is currently under construction and includes more than 147,000 square feet of retail space. It is 93% preleased and will bring approximately 35 commercial units to 14 new buildings on the site. Tenants will include Sobeys FreshCo, LCBO, Starbucks, Pet Valu and many more,said a city statement.
“RioCan’s success in preleasing the commercial component of RioCan Windfields to strong, necessity based tenants demonstrates the value of mixed-use development in rapidly expanding areas,” said Jonathan Gitlin, RioCan’s President & COO. “Astute retail tenants understand the opportunities that arise from being part of and servicing new communities such as these.”
The retail hub is expected to create nearly 500 jobs in phase one and an additional 1,500 jobs in the remaining development. RioCan’s new retail hub is ideally located to serve consumers across the city, particularly new residential developments in north Oshawa.
The development will be located just north of Ontario Tech University and Durham College serving the retail needs of the area. The development will create job opportunities for Oshawa community members, including youth and students.
There has also been tremendous demand for the residential component of the site, which is a 50/50 partnership between RioCan and Tribute Communities. UC Towers, the 503-unit hi-rise condominium component of the residential development is 95% pre-sold, and UC Uptowns, the 170-unit first phase and 153-unit second phase of low rise residential development, are either built out or pre-sold.
To learn more about the RioCan Windfields development, visit https://riocan.com/development-portfolio/development/windfields. For information on the residential component of the site, visit www.uctower.ca.
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