03/20/2014 11:57 EDT | Updated 03/20/2014 11:59 EDT

Target Canada Opening Toronto Store In Downtown Location

Arthur Mola/Invision/AP
Elisha Cuthbert tours the Shoppers World Danforth Target store location for a surprise shopping event to celebrate the holiday season on Tuesday, Dec. 10, 2013, in Toronto, Canada. (Photo by Arthur Mola/Invision/AP)

Exciting news for Torontonians!

Target Canada announced that it will open its first downtown Toronto store which will open its doors in October 2016.

The store will be located between Union Station and the waterfront in Harbour Plaza, a new mixed residential and commercial site that sits facing Lake Ontario.

According to the Toronto Star, the new Target Canada store will be 145,000 square feet and two storeys with underground parking (perfect for when you need a car to carry bags of all those fabulous Sarah Stevenson clothes!)

“It will be one of our largest stores in the entire country,” said Target Canada chief executive officer Tony Fisher.

No doubt the company is hoping that the mega-store will help bolster sales.

The expansion into Canada contributed to a nearly $1-billion loss for Canadian operations in 2013 and it suffered a US $329M loss in its fourth quarter.

Hey, if the store opening can attract the likes of Blake Lively, Elisha Cuthbert and Sarah Jessica Parker, we'll be there!

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