[URBAN NOTE] "Galleria Mall on Dupont sold to condo developer"

[rfmcdonald]

blogTO's Amy Grief reports on what may be the end of the Galleria Mall.

[T]here are reports that Freed Developments has purchased the Galleria Mall, a lagging mall in desperate need of refurbishment.

A representative from Galleria confirmed that as of August 14, the building's new owner is 2470347 Ontario Inc. with Avison Young Property Advisors and Managers Inc. as the property manager. As of present, Freed Developments has yet to comment.

Instead of getting a makeover, the mall could get a complete overhaul, and a new life, as some sort of mixed use condo tower likely thanks to one of the most fashionable developers in the city.

This wouldn't be Freed's first foray onto Dupont. The company has already acquired land west of Spadina and has submitted a rezoning proposal with plans to construct two high-rise condo towers at 328 Dupont with a total 560 residential units.