The Toronto International Film Festival looks to be facing a likely search for a new home for press and industry film screenings after its long-term venue, Scotiabank Theatre Toronto, was sold off, with plans for a twin condo tower development to replace it in the works.
The Canadian real estate investment firm RioCan owns the plot of land on which the Scotiabank Theatre has long operated under the ownership of Cineplex, Canada’s biggest cinema chain. RioCan has applied to the city of Toronto to change the zoning for 259 Richmond Street West, at the corner of Richmond and John streets in downtown Toronto, for a proposed condo development on the current RioCan Hall site.
Scotiabank Theatre, a longtime home for TIFF’s P&I screenings for film buyers and sellers, is set to make way for the development of two condo towers, one at 137 meters and the other at 143 meters, to accommodate 613 residences and retail locations, according to the plans submitted to the city of Toronto.
The proposed mixed-use buildings will replace the multiplex run by Cineplex. Michelle Saba, vp of communications at Cineplex, which sponsored the volunteer program at the 2024 edition of Toronto last September told THR in a statement: “While there are conversations around re-development of the site, these are long-term plans and it’s business as usual at Scotiabank Theatre Toronto.”
Representatives at the Toronto Film Festival could not be reached for comment on Thursday after THR asked about the marquee event having to look for a new venue for P&I screenings. The Scotiabank Theatre is near to TIFF’s Lightbox headquarters, and whether the Toronto film festival can still use the multiplex for its 2025 edition will likely depend on demolition plans for the downtown property.
Plans for the RioCan Hall redevelopment from Toronto-based Hariri Pontarini Architects suggest the possibility of a new theater to emerge from the massive condo development, but not necessarily to screen movies. “The existing theatre and retail space will be replaced with two new towers that will bring high-rise residential units, retail and office space, as well as a new theater and daycare to the site,” the architectural firm says on its website.
Representatives at RioCan were not available for comment on Thursday.
Source: Hollywoodreporter
