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Toronto’s Scotiabank Theatre is likely getting demolished

Bad news for the Toronto movie lovers out there – it looks like Scotiabank Theatre is likely going to be demolished.

RioCan, who is one of the country’s leading real estate investment trust firms, has just announced that it is “exploring the redevelopment” of the entire RioCan Hall complex, which is home to the Cineplex-owned Scotiabank Theatre, Michaels, Marshalls, and Goodlife Fitness.

The treasured movie theatre has lived in RioCan Hall since 1999, and local Twitter users have been freaking out over the thought of its impending destruction. Despite that, it’s important to realize that it is not yet 100 per cent locked in that it’s going to be destroyed.

RioCan just revealed the preliminary designs for their potential project on Wednesday, and while the plans include tearing down most of RioCan Hall, they have not yet been approved by the city.

“From what we understand any plans to redevelop the land would be very, very long-term,” Executive Director of Communications for Cineplex Sarah Van Lange explained according to BlogTO. RioCan CEO and founder Ed Sonshine seconded Van Lange’s note, stating in an email that “One day, the property will be redeveloped, but that is many, many years in the future. It is filled with successful tenants, including the Scotiabank Theatre, and a new steak house opening soon.”

Plans presented at their public design unveiling revealed that Toronto’s award-winning Hariri Pontarini Architects will be planning a two-tower multi-use complex, which has been pitched to house residential high-rise units in addition to retail, office, daycare, amenity, theatre, and even new public park space.

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