The 2015 Case:

Colliers and Mirvish Enterprises studied the potential implications of the marketing and sale of this high-profile project to customize a marketing strategy that would create competition while maintaining strict confidentiality. As a result, the marketing plan focused on the high-value retail density, which offers the rare ability to create destination urban retail for upwards of 300,000 square feet. The retail component value was viewed as the key to a successful process as the team believed the significant residential component would be valued in a narrow value range while retail value could differ significantly. In addition, the pension funds and REITs had strong access to capital when marketing commenced in early 2013.

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To provide a vision on potential development planning, Bousfields was hired to perform planning rationale and create concepts. The entire team understood the sensitivities surrounding Mirvish Village due to its location in the active Annex area, and Mirvish Entreprise’s desire to honour the legacy of the site. Therefore, the team focused on minimizing speculation surrounding what could be developed and any potential plans, while selecting Westbank Developments partially due to their strong track record of working with community groups to create developments appreciated by the surrounding communities upon completion.

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Westbank Development’s interest stems from the desire to participate in the urbanization and intensification of strong urban communities. Their experience working with active communities in Vancouver and affinity with high-quality retail and residential developments made Westbank Developments an ideal buyer for Mirvish Village.

 

To assist in the need for a consultative planning process, Mirvish Enterprises agreed to enter into a leaseback on Mirvish Village for over three years, allowing Westbank Developments time to create a truly great, mixed-use urban project.

 

The transaction was brokered by Milton Lamb, Bryce Gibson and Audrey Albright of the Colliers International Toronto Downtown office, and Robert Freedman and Jonathan Plotkin of our New York office.

 

 

The 2016 Case:

This year's competition challenges students to submit a bid for a prime redevelopment opportunity at 28-32 Eastern Avenue, Toronto. Students have been given two and a half months to work through a comprehensive development that must incorporate legal, physical, and financial analysis as well as creativity to address a redevelopment plan that will maximize the bid for the site.

 

 

The 2017 Case:

This year's case competition will be challenging participants to propose a redevelopment plan along with a bid price for 2280 Dundas Street West, Toronto. The 416,391 square foot site is currently improved with three commercial retail buildings in a retail plaza setting. Students will be given two months to work through a comprehensive development that must incorporate legal, physical, and financial analysis as well as creativity to address a redevelopment plan that will maximize the bid for the site.

 

 

The 2018 Case:

This case challenged participants to propose a redevelopment plan along with a bid price for the former Christie Cookie factory on Lakeshore Rd W. The 27 Acre site is currently improved a 625,000 square foot industrial building in condo residential setting. Students were given two months to work through a comprehensive development that must incorporate legal, physical, and financial analysis as well as creativity to address a redevelopment plan that will maximize the bid for the site.