Property owners and developers are repurposing former Hudson’s Bay department-store spaces across Canada into mixed-use projects and other new uses [1].
This transition reflects the broader decline of traditional department-store retail and the aftermath of the company's receivership between 2024 and 2025. The shift allows owners to generate revenue from vacant flagship spaces that no longer support the legacy retail model [1, 5].
In Toronto, the retail landscape is seeing immediate, short-term activations. A one-day pop-up retail event recently took place at the former Hudson’s Bay Saks floor in the Eaton Centre [2]. Other Toronto projects include the conversion of a Yonge-Bloor location into a self-storage warehouse [3].
Western Canada is seeing similar large-scale redevelopments. In Vancouver, the Onni Group has been involved in an acquisition deal for a downtown building [3], while Calgary is seeing a landmark redevelopment of its former store space [1].
Court-identified buyers are also emerging for other locations. Four former Hudson’s Bay properties in Vancouver, Calgary, Ottawa, and a fourth location have identified buyers [4]. These efforts are part of a wider trend of reshaping urban centers one year after the collapse of the retailer [2].
Developers such as Brookfield Properties, Larco Investments, and Onni Group are leading these conversions [1]. By diversifying the use of these massive footprints, these firms are moving away from single-tenant retail toward flexible, mixed-use environments [1, 3].
“Developers are converting vacant department store spaces into mixed-use projects and self-storage facilities.”
The conversion of these flagship stores signals a permanent shift in Canadian urban planning, moving away from the 'anchor tenant' model that once defined downtown shopping districts. By replacing single-use department stores with mixed-use developments and logistics hubs like self-storage, cities are adapting to an e-commerce-driven economy where physical retail requires more agility and diversity to remain viable.
