Scotiabank Theatre is a staple in Toronto’s Entertainment District. The iconic building has sat at the corner of John and Richmond for the past 20 years, serving as a go-to spot for date nights, special screenings and movie festivals.
But it seems its time is coming to an end, much to the dismay of Torontonians.
The RioCan Hall complex and Scotiabank Theatre are being eyed for redevelopment, Urban Toronto reports. In its place, RioCan Real Estate Investment Trust — who owns the property — wants to build two mixed-use buildings that will stand 39- and 40-storeys tall.
In total, RioCan REIT plans to have 613 residential units, which will sit on top of shared retail, office, and entertainment space. The development will still have a movie complex, but it is unlikely to be the same scale as Scotiabank Theatre, considering how much is being built in the space.
The real estate investment firm is in the early stages of the redevelopment approval process, but that hasn’t stopped Torontonians from sharing their deep upset about the news.
in related news, the scotiabank theatre is turning into condos and i am livid
— Nick Tacik, PhD 🍞🌹 (@nick_tacik) May 2, 2019
Many argued that the city has enough condos already and that the new addition won’t do anything to change Toronto’s affordability problem.
Because clearly more condos that nobody can afford are more important than Toronto’s love for art 🙄
— Jaime Rebanal (@ItsJaimeHere) May 2, 2019
Of courses cuz we need more damm tiny boxes to live in at a crazy cost. Smh. Will miss that place it was nice.
— . (@TheJ3di) May 2, 2019
Others added that with so many new condos popping up, there will be significantly fewer things to do in the city.
Does the city council realize that once Toronto is nothing but condos, there will be nothing to do and no one will want to live there
— Hilary Agro 🍄 (@hilaryagro) May 2, 2019
Yes we need housing, but more condos in an already congested core will not help “Get Toronto moving”
It’s sad my kids will miss a downtown of fun destinations and things to do, not just overcrowded towers of folks rushing to work
— Rob McLaughlin (@Rj_mclaughlin) May 3, 2019
Even less of a reason to visit the “entertainment” district.
— Nana C’mon™️ (@nasty_kunst) May 2, 2019
The Entertainment District could be completely transformed in the next few years. In addition to Scotiabank Theatre, Adelaide St. and Widmer St. are also being redeveloped, BlogTO notes. That means the Marshalls, GoodLife Fitness and other stores in the area could soon disappear as well.