East York Town Centre has been in business on its sprawling Overlea Blvd acreage for many years. The Optical Factory store proudly displays a sign that reads Here since 1962. We must be doing something right. But things have changed at EYTC over that time as thousands of South Asian families have flooded into Thorncliffe Park Drive apartments making the neighborhood one of Canada’s busiest new-arrival landing spots. A walk around the Town Centre this weekend revealed that stores like Bentley Leather, the Rockport shoe outlet and many others have moved out. That doesn’t mention the sealed off cavern that used to be occupied by Target and before that Zeller’s. Still, dozens of dress, shoe, rug, kitchenware and furniture stores with no apparent “brand” populate aisles which are only occasionally spotted by empty stores. Fast food places, abound.
GRASS ROOTS OF BUSINESS
It is a testament to the grass-roots of private business. And there are new places that seem to fit well at EYTC. Ichiban Living is a beehive of a general wares store (not unlike Dollarama) with aisles so narrow customers pass sideways. Ichiban means Number One and it seems to be a Japanese under-the-radar phenomenon which is growing fast. Speaking of Dollarama, it is a veteran resident of EYTC (in the basement if you please) and apparently the only such business down there. These endeavors are flashing reminders of the state of things as is the Money Mart. It may be the only one to be found between Millwood Rd and Yonge Street. East York Town Centre is owned by Morguard Investments Corporation, a reit not unlike RioCan but with less prestigious properties. Morguard is big enough to have “landlord influence” among valuable tenants like the banks (TD, Scotia, Shoppers Drug Mart, Rogers, Bell and Tim Hortons are here). It is of interest to know that Morguard owns and manages the upscale Leaside Towers on Overlea, Rideau Towers 1, 2, 3 & 4 on Thorncliffe Park Drive and the Leaside Corporate Centre office building on Overlea Boulevard.
FOOD BASICS
At the under-renovation Food Basics (owned by Metro) the place is frankly, a mess. But Sunday morning it was crowded with local clients. Among the hundreds dressed in various colourful styles of traditional Pakistani and Middle Eastern dress. The mind turns to what the owners of this under-performing shopping mall might wish for themselves. The word Costco comes to mind. The construction of this store would pull hundreds of thousands of people to the stoplight outside EYTC. These are consumers who have seldom, if ever set eyes on Thorncliffe Park. Right now, the Costco proposal is in limbo, destined to be heard at the Ontario Municipal Board at an unstated date. Two businesses have taken the matter there. They are Iqbal Halal Food, the largest Asian grocery store in Ontario, located down near the south intersection of Overlea and Thorncliffe Park and the Heritage Funeral Home. Iqbal may well be concerned that its business will be undercut by Costco.
Ichiban general merchandise store — the name means Number One
