Mattamy Homes and QuadReal Property Group have scheduled a fall launch for Phase 1 of their $6-billion condo project The Clove, part of the redevelopment of Cloverdale Mall in Etobicoke.
The 33-storey tower to be sited on a standalone location on a 2.3-acre gateway site at 2 & 10 The East Mall Crescent will be paired with a nine-storey midrise, totalling over 600 condo units, according to an announcement that includes final design drawings.
Both buildings play a role in the redevelopment of Cloverdale Mall, a 32-acre shopping centre, into a master-planned community. The overall plan is to add more than 5,000 condo and purpose-built rental units, two public parks and new streets at the property.
The renderings show the plan for a new street network that connects community amenities including retail, residential and green spaces.
“This first building is the singular opportunity to get in on the ground-floor as this 32-acre master-planned community takes shape over the next decade,” Niall Haggart, president of Mattamy Homes’ Greater Toronto Area urban division, said in a release.
About The Clove and Cloverdale’s transformation
The Clove will have a mix of studio to three-bedroom units with prices starting from the $400,000 range, Mattamy says on its website for the project.
Its location means residents will be within walking or driving distance to major TTC and GO Transit stations, Toronto Pearson Airport, highways 427 and 401, Sherway Gardens shopping centre and local schools and post-secondary institutions.
Green space and walkability are prioritized in the project, with its architecture aimed at evoking “a feeling of movement and connection to the outdoors.”
“The design is not trying to disrupt what people like about living in Central Etobicoke. Instead, the goal is to capture that feeling, and innovate on both a macro level with the master plan, and on a building level with The Clove,” Ralph Giannone, founding partner of Giannone Petricone Associates, which is designing the Cloverdale master plan, said in the release.
A new kind of “gentle urbanism” is the goal of overhaul, Aaron Knight, senior vice-president of development at Quadreal, said in the announcement.
“Built on the values of the existing community, the Cloverdale master-plan aims to foster connections to new neighbours and community, transit, walking and green spaces and to provide new dynamic retail, cultural and social opportunities.”
Sales for The Clove will start in the fall, with Mattamy leading on sales and marketing.
The Clove is one of 10 towers and several mid- and low-rise buildings expected to be built as part of a substantial redevelopment of Cloverdale Mall. It was built in 1956 as an open-air plaza, then turned into an enclosed mall in the 1980s, with renovations in 2006.
The mall is being co-developed by Mattamy and Quadreal to add over 180,000 square feet of retail space. It is currently anchored by Home Hardware, Rexall Drugstore, Winners, Kitchen Stuff Plus and Metro stores.
About Mattamy, QuadReal
Toronto-headquartered Mattamy is a builder and developer that partnered with Quadreal in 2022 as a joint venture partner at Cloverdale. Described as the largest privately owned homebuilder in North America, Mattamy operates in Ontario and Alberta in Canada, and in Texas, Florida, Arizona and North Carolina in the U.S.
Quadreal, headquartered in Vancouver, is the real estate investment company of the British Columbia Investment Management Corporation, with $77.6 billion in assets under management.