Misplaced Pages

#736263

31-540: Erin Mills Town Centre was built on a land that had been accumulated by E. P. Taylor 's "Don Mills Developments" in 1954. The mall opened in 1989 and was owned and managed by Cadillac Fairview until it was purchased by the Ontario Pension Board in 2010 for $ 370 million (CAD). Excavation for the mall was started in 1987, and completed in 1989. There was a large clock tower at the centre of the mall, though this

62-563: A Brazilian shopping center manager worth more than $ 1 billion. In 2012, Cadillac Fairview bought out the leases of Sears Canada in five stores for $ 400 million, including the lease of the flagship Sears at Toronto Eaton Centre . Many of the former Sears locations, including the one at Eaton Centre, became Nordstrom . In 2014, it purchased the Toronto flagship store of Hudson's Bay Company for $ 650 million. On September 21, 2015, Cadillac Fairview rebranded its shopping centre properties, adding

93-471: A glass sphere 283 feet in circumference that would open up sightlines and increase the amount of natural light. The removal of the clock tower also allowed for a true centre court and infinity fountain to be installed. The centre court is also used to host events and activities, as well as a Christmas tree and Santa village during the holidays. This renovation would be the first major renovation since mall opening in 1989. Other renovations would include elevating

124-571: A leading provider of renewable energy. From 2003 to 2012, the fund was the principal owner of Maple Leaf Sports & Entertainment , the parent organization of the Toronto Maple Leafs , Toronto Raptors , Toronto FC and Toronto Argonauts . The franchise was sold to BCE Inc. and Rogers Communications in 2012. In 2017, it acquired Mémora Servicios Funerarias, a Spanish funeral provider, from 3i . In 2019, Ontario Teachers', along with Amazon and others, assisted in financing to help

155-681: A nearby trauma centre in Toronto . Erin Mills Town Centre has been used as a filming location for several films, including Noam Chomsky 's Manufacturing Consent: Noam Chomsky and the Media (1992), Hedwig and the Angry Inch (2001), and Confessions of a Teenage Drama Queen (2004) starring Lindsay Lohan . The now-closed Erin Mills Cineplex Odeon theatre was also used as a set for the film Dirty Work (1998). Erin Mills Town Centre has served as

186-764: A visitor. Cadillac Fairview owns, develops, and manages property, malls and large office and retail spaces across the Western Hemisphere , mostly in North America . Cadillac Fairview has also developed suburban housing, such as the Erin Mills "New Town". Among its Canadian assets are five Quebec properties, twenty-five Ontario properties, two Manitoba properties, eight Alberta properties, and fourteen British Columbia properties. Cadillac Fairview's malls are generally large and high-quality, with high-end stores and high sales per square foot. For instance, sales at

217-500: Is Steve McGirr. One of Canada's largest institutional investors, Ontario Teachers' reported having $ 249.8 billion in net assets as of June 30, 2023. It has an excellent track record for investment performance, with an average annual return of 9.4 percent since inception in 1990. Ontario Teachers' owns and manages a diversified portfolio of Canadian and international assets. Through its fully owned real estate subsidiary, Cadillac Fairview , Ontario Teachers' owns properties that include

248-594: Is an independent organization responsible for administering defined-benefit pensions for school teachers of the Canadian province of Ontario . Ontario Teachers' also invests the plan's pension fund and it is one of the world's largest institutional investors , acting as a partner organization of the World Economic Forum . The plan is a multi-employer pension plan, jointly sponsored by the Government of Ontario and

279-497: Is wholly owned by the Ontario Teachers' Pension Plan . The name "Cadillac Fairview" came into existence in 1974 as a result of the merger between Cadillac Development Corporation Ltd and Fairview Corporation . Cadillac Development Corporation was founded by partners Ephraim Diamond (d. 2008), Joseph Berman (1922–2003), and Jack Kamin in Toronto in 1953 as a developer of high-rise apartment buildings . Fairview Corporation

310-909: The New York Yankees regain ownership control of their regional sports network , the YES Network , resulting in a minority ownership in the network. In 2022, the pension fund was targeting investments in India, opening an office in Mumbai in September. It had $ 178.5 billion in assets total. In 2021 and 2022, Ontario Teachers' invested US$ 75 million in FTX and US$ 20 million in FTX.US respectively, through its Teachers' Venture Growth platform. Following FTX's collapse in early November 2022, Ontario Teachers' stated that it will write off

341-650: The Ontario Teachers' Federation . Ontario Teachers' achieved a 11.1% one-year total-fund net return in 2021 and achieved its ninth consecutive fully funded year. Ontario Teachers' was established on January 1, 1990. Until then, Ontario teachers' pensions had been sponsored solely by the Ontario government. Assets of the plan had been invested in government bonds only. Currently, it invests globally in fixed income, public and private equity markets, real estate, infrastructure, natural resources, credit and venture capital through Teachers' Venture Growth (TVG). The plan administers

SECTION 10

#1732851317737

372-615: The Pacific Centre and 12 office properties. In September 2017, it announced that it would become a national partner to the Canadian Olympic Committee. In December 2022, Cadillac Fairview purchased a 25% shareholding in Stanhope plc . In July 2018, Cadillac Fairview disclosed that it had been employing facial recognition technology via embedded cameras on their mall directory kiosks, which collected anonymized information of

403-1739: The Toronto Eaton Centre , a CF mall, were $ 1500 per square foot, while lower-end malls have sales closer to $ 325 per square foot. Cadillac Fairview has actively tried to sell weak malls, reducing its mall count from a high of 40 to around 20 in 2017. Notable properties managed by Cadillac Fairview, some co-owned with (or managed on behalf of) other investors, are listed below. Hillcrest Mall, Richmond Hill, ON Eastgate Centre, Stoney Creek, ON Centre Mall, Hamilton, ON Midtown Mall, Saskatoon, SK Cornwall Centre, Regina, SK Hamilton Eaton Centre (Hamilton City Centre), Hamilton, ON Parkway Plaza, Scarborough, ON Fairview Mall, St. Catharines, ON Cedarbrae Plaza/Mall, Scarborough, ON Maisoneuve Mall, Montreal, QC Sarnia Eaton Centre (Bayside Centre), Sarnia, ON North Hill Shopping Centre, Calgary, AB Bonnie Doon Shopping Centre, Edmonton, AB Les Galeries Ste. Anne, Giffard, QC Gage Square, Hamilton, ON Rockwood Mall, Mississauga, ON Domaine Mall, Montreal, QC Greenfield Park Shopping Centre, Montreal, QC Montreal Square, Ottawa, ON Vista Centre, Ottawa, ON Southland Mall, Regina, SK Fairview Plaza, Saint John, NB Thunder Bay Mall, Thunder Bay, ON York Mills Shopping Centre, Toronto, ON Parkwoods Village Shopping Centre, Toronto, ON The Towne Mall, Toronto, ON Don Valley Plaza, Toronto, ON University City, Toronto, ON Millway Shopping Centre, Mississauga, ON Peanut Plaza, Toronto, ON North Kipling Plaza, Toronto, ON Ontario Teachers%27 Pension Plan The Ontario Teachers' Pension Plan Board ( French : Régime de retraite des enseignantes et des enseignants de l'Ontario )

434-755: The Toronto-Dominion Centre , Toronto Eaton Centre , the Pacific Centre in Vancouver, the Rideau Centre in Ottawa, and White City Place in London, UK. Through its private equity investment arm, Private Capital, Ontario Teachers' owns interests in companies such as Munchkin, PODS, Techem, GFL Environmental, and Shearer's Foods. In 2001, Ontario Teachers' Pension Plan and Caisse de dépôt et placement du Québec were

465-587: The January 12, 2004 episode of Rick Mercer Report , comedian Rick Mercer had a short segment about the Ontario Teachers' Pension Plan, in which he humorously contrasted the plan's beneficiaries (i.e. teachers) with the investments the plan had made, including shopping malls and the tobacco industry . On December 2, 2008, New York lawyer Marc Stuart Dreier was arrested at Ontario Teachers' Toronto offices and charged with impersonating, through his words and by

496-504: The company had used 5 million images from such kiosks to generate biometric representations of visitors' faces. It was also found that the biometric data had unknowingly been compiled into a database by a third-party technology provider "for no apparent purpose and with no justification", which "compounded the risk of potential use by unauthorized parties or, in the case of a data breach, by malicious actors". The report concluded that Cadillac Fairview had complied with their recommendations, with

527-682: The entirety of its US$ 95 million investment by the end of 2022. On June 6, 2018, a group of global institutional investors, led by Ontario Teachers' and CDPQ , in collaboration with the Government of Canada , announced a project to advance key G7 objectives. Partner Institutions AIMCo , Allianz , Aviva , CalPERS , CDPQ, Generali, Natixis Investment Managers, OMERS , Ontario Teachers', OPTrust , and PGGM pledged to commit resources, expertise and networks to three initiatives: enhancing expertise in infrastructure financing and development of emerging and frontier economies; opening opportunities for women in finance and investment worldwide; and speeding up

558-613: The estimated age and gender of customers. The company stated that this information was being used to analyze mall traffic. Following an investigation by CBC News and the announcement of a government probe, Cadillac Fairview suspended the program. On October 29, 2020, the federal privacy commissioner and his counterparts in Alberta and B.C. released a report detailing Cadillac Fairview's use of anonymous video analytics (AVA) to collect personally-identifiable information from mall visitors without meaningful consent. It found that at 12 properties,

589-522: The exception of those "that speculate about hypothetical future uses of similar technology". Cadillac Fairview defended the program, arguing that the cameras' use were covered by a general privacy notice located on entrance signage (which warned that premises were monitored for safety and security reasons, and referred users to a company privacy policy on the company website), that the images themselves were only stored temporarily for analysis before being deleted, and that they could not individually identify

620-776: The implementation of uniform and comparable climate-related disclosures under the FSB-TCFD framework. On September 26, 2018, Ontario Teachers' joined finance, health and government leaders in signing the Tobacco-Free Finance Pledge (of the NGO Tobacco-Free Portfolios), which commits the pension plan to no longer invest in tobacco companies. On January 21, 2021, Ontario Teachers' announced its commitment to net zero greenhouse gas emissions by 2050, disclosing that its strategy will focus on financing climate solutions that replace fossil fuels and reduce emissions. On

651-408: The mall grounds was built. The plaza consisted of Indigo Books , LCBO , and more. There was also an older plaza located on mall grounds (which was previously a Loblaws grocery store opened in 1992) which consisted of Dollarama , Home Sense , Menchies , and also a salon. In July 2013, a $ 100 million redevelopment was announced which would include the replacement of the centre court clock tower with

SECTION 20

#1732851317737

682-458: The mall's Peoples Jewellers store. The robbers managed to take an undisclosed amount of money, and jewellery. There were no injuries. On June 11, 2014, during the $ 100 million mall renovation, there was an incident, injuring a worker. Shortly after 11 p.m., a roof truss collapsed, causing other beams to fall, one falling on the worker, pinning him under a steel beam. The worker was airlifted from Credit Valley Hospital , by Ornge air ambulance to

713-502: The pensions for some 330,000 teachers, principals, and school administrators, and it pays pensions to some 148,000 retirees. In 2020, $ 6.74 billion in benefits was paid to members. Ontario Teachers' is headquartered in Toronto , with regional offices in London , New York , Hong Kong , Singapore , and Mumbai .  Effective January 1, 2020, Jo Taylor succeeded Ron Mock as President and Chief Executive Officer. The Chair of Ontario Teachers'

744-472: The prefix "CF" in front of each shopping centre name and phasing out individual mall logos in favour of a standardized logo format and image campaign. In January 2017, Cadillac Fairview sold a 50% interest in its Vancouver portfolio to the Ontario Pension Board and the Workplace Safety and Insurance Board . Financial terms were not disclosed, but the deal involved 4 million square feet of leasable space in

775-723: The scene for the Canadian game show Instant Cash . Cadillac Fairview The Cadillac Fairview Corporation Limited , branded as Cadillac Fairview , is a Canadian company that invests in, owns, and manages commercial real estate , mainly in Canada and the United States. As of March 2017, the company had 73 properties, encompassing 50 million square feet, worth over $ 40 billion. As of September 2017, Cadillac Fairview's portfolio consisted of 60% Canadian retail (mainly major shopping centres) and 26% Canadian office buildings. Cadillac Fairview

806-457: The skylights and replacing them with modern clerestory windows, new LED lighting, new European limestone flooring and a new main entrance. The food court was completed in Spring 2015 and was completely redesigned and expanded. It featured high ceilings and large windows. Many stores, including Shoppers Drug Mart , were renovated for a modern look, matching the redevelopment. The construction developer

837-805: The sole two investors in a US$ 360 million fund raised by Canadian company Cordiant Capital . Ontario Teachers' also owned Camelot Group PLC , which held an exclusive licence to operate the UK National Lottery until January 31st 2024. It acquired a share of the Irish National Lottery in 2014. Ontario Teachers' owns a substantial portfolio of infrastructure assets, including stakes in Birmingham Airport , Bristol Airport , Copenhagen Airport , and London City Airport , as well as international water and power utilities. Alongside PSP Investments, Ontario Teachers' owns Cubico Sustainable Investments,

868-573: The use of business cards, Michael Padfield, a senior lawyer with the pension plan. A receptionist in the Ontario Teachers' offices had become suspicious and notified Toronto police. Dreier was attempting to close a sale of forged Ontario Teachers' promissory notes, worth US$ 44.7 million, by meeting with the buyers right in the Ontario Teachers' offices. A 2012 article in The Economist titled "Maple Revolutionaries" about Canada's largest public pension funds features Ontario Teachers', saying it pioneered

899-413: Was Broccolini Construction Inc. and mandated by 20Vic Management, renovating approximately 800,000 square feet (74,000 m) and adding an extra 25,000 square feet (2,300 m) of expansion through the food court and other shopping areas. Erin Mills Town Centre remained open throughout the redevelopment, but opened at 8:00 AM every weekday. Shortly after 8 p.m. on October 16, 2012, a robbery occurred at

930-560: Was established in 1958 as the real estate division of Cemp Investments , the holding company of the Bronfman family . Before merging, Cadillac and Fairview had already had strong ties since 1968. Bronfman-held Cemp Investments sold Cadillac Fairview in 1986. The company was purchased by the Ontario Teachers' Pension Plan in March 2000. In 2006, it expanded its operations to Brazil by buying 46 percent of Multiplan Emprendimentos Imobiliarios SA,

961-415: Was replaced with a glass sphere during the (CAD) $ 100 million redevelopment. A Cineplex Odeon movie theatre was closed in 2000 and was replaced by Old Navy and Sport Chek stores. In addition, there was a daycare which was converted to retail space in 2005. The mall also had a mini-golf course located in the centre court, but it was converted into an upscale café. In 2008, a plaza outside the mall, but on

Erin Mills Town Centre - Misplaced Pages Continue

#736263