Deputy Mayor fights Rapacious REIT

BBBD:Press Release, July 7, 2021

Community & Deputy Mayor Join Forces to Fight Rapacious REIT Over Mall Redevelopment

The Build a Better Bloor Dufferin community group and Deputy Mayor Ana Bailão will be picketing the Dufferin Mall on Friday, July 9, to encourage local shoppers to take their dollars elsewhere until the Mall changes its development plans. Dufferin Mall, owned by Primaris REIT and multinational giant HR REIT, plan a four tower, 30-story luxury residential development on the north quarter of the property, but have offered almost no community benefits to offset the impact of the new buildings. 

The Community Group, neighbours, and Deputy Mayor Ana Bailão will be picketing the mall Friday July 9th, from 4:00 – 6:00 PM, to bring the message home to the owners.

“They want to build 1,000 units, almost none of them affordable to people who live in our community. They’re asking for significantly increased density on the site and, in return, we’re asking for a significant affordable housing contribution. Our city desperately needs it.” said Build a Better Bloor Dufferin co-chair Maggie Hutcheson.

“They seem to have forgotten that they’re also a local retailer,” said Erella Ganon, head of the local park organization Friends of Dufferin Grove. “People aren’t going to want to shop at their WalMart, or their NoFrills, if they’re wrecking the community at the same time.” 

“This is exactly why we need regulation of REITS,” said Build a Better Bloor Dufferin co-chair Sean FitzPatrick, “The greed of Real Estate Investment Trusts has no limits. They damage communities, they don’t care about neighbourhoods and they’ve upended the housing market. Real estate has become the latest international investment casino.  We need housing but this financialization of real estate has got to be regulated. We need the federal and provincial governments to step in now and tightly regulate REITs before more neighbourhoods are wrecked and the cost of housing ruins everyone’s life.”

Join Deputy Mayor Ana Bailão, 

Build a Better Bloor Dufferin, and community leaders 

Friday July 9th, at 4:00 PM 

in front of the WalMart at Dufferin Mall,  

for a protest against the damage being done by rapacious REITS

Gather at Dufferin Grove Park, 3 p.m. in front of the old rink house, across from Duff Mall entrance.

MASKS AND SOCIAL DISTANCING ENCOURAGED

email info@buildbloordufferin.ca or tweet to @buildbloor

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