The Well: Redefining live, work, play

>> By Sean Tarry

It’s grand in its scale, ambitious in its scope, and could perhaps even be considered to be majestically beautiful from an architectural design perspective. But, whatever one’s impression of The Well – the massive mixed-use development that’s coming to fruition in the heart of downtown Toronto – the project is like nothing the city has ever seen before. In fact, according to John Ballantyne, Chief Operating Officer for RioCan, the development is much more than that offered by many of its counterparts sprouting across the country, and could soon be viewed by visitors and industry onlookers alike as the standard by which similar communities are designed in the future, redefining the very idea of live, work, play.

“The Well is the most ambitious mixed-use endeavour in Canada,” he asserts. “It is a bold reflection of Toronto’s energy and diversity, and an extension of the urban vibrancy of King West. It’s a choreographed mix of urban experiences, dynamic architecture and interconnected public spaces. Thoughtful and purposeful design underpins everything it achieves. With a pedestrian-centered focus, The Well responds to some of the strongest desires of downtown Toronto today: walkability, community-building, and the ability to create connections while seamlessly blending old and new. There is no doubt that The Well is a marquee project for Toronto that will be an iconic landmark and destination in the city for years and decades to come.”

Centre of activity

The mammoth development, which is being constructed on an impressive eight acres of land, is the result of a collaborative effort between Allied, RioCan and CBRE. Bordered by Spadina, Front and Wellington, and located at the centre of one of the city’s most compelling and animated areas, The Well is conveniently nearby Toronto’s Queen West, King West and the city’s Entertainment, Financial and Waterfront Districts, and should serve as a node of frenetic activity.

Already an area of the city that sees more than 7,100 pedestrians, 22,000 vehicles and 55,000 commuters pass through each day, it’s sure to generate even more traffic as soon as the project is complete. Consisting of seven towers that will accommodate 350,000 square feet of commercial retail offering, 1.2 million square feet of office capacity for an estimated 8,000 active workers, and 1.5 million square feet of residential space that includes 1,700 on-site condominiums and apartment units housing approximately 3,000 residents, The Well, says Ballantyne, is leading the way when it comes to developments of this magnitude.

“The Well is projected to contribute just under $1 billion annually of economic activity,” he says. “It will provide space for 1,300 new retail jobs. And, beneath The Well is a unique 7.6 million litre tank of water that will enable ENWAVE’s district energy system to be able to expand its service area west of Spadina. This tank can supply low-carbon heating and cooling to an additional 17 million square feet of space. All of The Well’s commercial and residential buildings are connected to ENWAVE’s district energy system for both heating and cooling. This, combined with the addition of transit, green spaces and new opportunities for eating, shopping, working, playing and living, The Well will elevate the neighbourhood and city exponentially. It’s one of the most transformational projects Toronto has ever seen. The complexity and scale of it will reinforce and enhance the Downtown West area of the city and will set a new standard for the future of mixeduse projects, elevating Toronto’s reputation on the world stage.”

Strong retail presence

In addition, The Well also features a world-class, 70,000 square-foot public food market offering an eclectic array of food and beverage options for residents and visitors to choose from, including La Cubana, Hooky’s, Ren Sushi, a new to market Korean-focused concept, Chun Yang Tea, Lob- ster Burger Bar, Rosie’s Burgers, Isabella’s Mochi Donuts and Sweetie Pie, among others. It’s an offering that provides a critical component to the overall retail presence on the site which is nearing closer every day to being completely leased. Some of the brands that have already announced their involvement include Sweat and Tonic, Oliver & Bonacini, Shoppers Drug Mart, BMO, Scotiabank, Quantum Coffee, Tokyo Smoke, Bailey Nelson, Bone & Biscuit, dentalcorp, Fix Coffee + Bikes, Prince Street Pizza, Arcadia Earth, Lumea Laser Clinic, Maverick, The Village Collective and Vie by Lê, with more names to follow over the course of the next few months and beyond as the community continues to take shape. It’s an impressive list of brands that have been secured and will help see out the promise of The Well as a unique mix of shops, restaurants, fresh food markets, workspaces and residences that set the stage for innovative collaborations and meaningful experiences in culture, entertainment, community and wellness. And, it’s one that was thoughtfully and deliberately assembled in large part due to the advisory services of Alex Edminson, Senior Vice President at CBRE, who seems to understand in full the gravity and importance of the project that’s been years in the making.

“Working on a project of this size and stature – one that will transform the area in which it’s being built – is the opportunity of a lifetime,” he says. “When I zoom out from the day-to-day to look at what’s being created – it’s extraordinary. I hope that this isn’t the last time that something this magnificent is built. But, suffice it to say, this build is not a regular occurrence. It’s raising the standard for mixed-use projects, and not just for the city of Toronto or for Canada, but for the entire world.”

Commitment and focus

Edminson is sure to emphasize the contributions that have been made by so many different individuals involved in the project, suggesting that it would be impossible to pull off a feat of this magnitude without the efforts of a large team of experts. However, from the perspective of helping to build the retail layer of this incredible mixed-use community, Edminson and his CBRE partner, Arlin Markowitz, have been pulling most of the levers, directing the flow and evolution of the projects commercial leasing component. It’s an element of the job that requires a special kind of skillset and a keen understanding of the needs and preferences of the community and surrounding area. And, to do it right, suggests Edminson, it’s an element that demands an unwavering focus.

“To be involved in an undertaking like this requires a great deal of commitment and a dedication to do the job and the entire community justice,” he asserts. “You have to be committed to properly merchandising, optimizing the offering through an inclusive mix of tenants that provide day-to-day services, discretionary and traditional retail offerings that are a balance of local and national brands. In addition, you’ve got to be extremely careful in ensuring that the mix that’s assembled is unique and complementary, creating a retail synergy that not only makes sense, but one that remains true to the overall vision and goal of what we’re all trying to create. It’s been an amazing project to work on. And, I’m really excited to finally see all of our hard work come to life in full, and to continue developing and evolving the retail offering that’s such a critical piece of The Well.”

Transformative mixed-use

RioCan’s Ballantyne echoes Edminson’s sentiments concerning the excitement surrounding the project. And, although he’s not at liberty yet to share details, he assures that there will be lots of exciting news released concerning The Well within the coming months. In the meantime, he says that he’s enjoying watching all of the pieces come together to form what he considers a revolutionary milestone for mixed-use developments.

“It’s been rewarding to see so much excitement around The Well. Our office tenants have started to occupy the iconic office tower at 8 Spadina. The residential community has started occupying the first of six residential towers. Our retailers will begin to take occupancy soon, with rolling openings and increased animation of our community throughout 2023. We are excited for a celebration in the fourth quarter of 2023 highlighting The Well’s vibrant amenities, retailers, businesses, office tenants, and residences that make The Well a world-class property. And, we look forward to welcoming many new visitors, residents, retailers, and office tenants to The Well in the upcoming months. The offering will be enhanced by dynamic, community-based programming that will draw people to The Well year-round for unique experiences, making it one of Toronto’s most vibrant destinations – a hub for culture, dining, shopping, working and living. With world-class architecture and design, this community will become a landmark for the city and a model of what a mixed-use community can be.”