Toronto’s shipping container market STACKT is sticking around after 10-year lease extension

With its future in Toronto unclear back in 2022, STACKT founder and president Matt Rubinoff touted the shipping container market’s mobility.

“The idea of this project is it’s modular,” he said. “So we have the ability, because these are shipping containers, to pick it up and move it.”

That won’t be necessary in Toronto. At least for the next decade.

STACKT announced on Wednesday that the City of Toronto has signed a 10-year lease extension for its flagship location at 28 Bathurst Street. It also announced plans to expand in Ottawa, Calgary and Vancouver.

“We are thrilled to continue our relationship with the City of Toronto,” Rubinoff said in a release Wednesday.

“In Toronto, the STACKT market began as a unique concept and has evolved into an impactful ecosystem where people and businesses can connect and grow. We have created a community here in Toronto, and this expansion proves our ongoing commitment to fostering opportunities for creativity and growth. We are excited to bring this energy across Canada.”

On its website, STACKT touts its Bathurst Street market as the largest of its kind in North America and describes it as “an ever-evolving cultural marketplace featuring a mix of shops, a microbrewery, top chefs, killer city views and lots of ongoing community programming.”

The award-winning site comprised solely of shipping containers opened in April 2019, and according to STACKT, it has since hosted over 3,000 businesses, created over 10,000 jobs and attracted over five million visitors.

Toronto Deputy Mayor Ausma Malik celebrated the partnership.

“STACKT market brings together business, the arts and community in a way that enhances the vibrancy of our downtown,” Malik said in a release.

“By providing a platform for local businesses and artisans, welcoming neighbours and visitors alike, STACKT market enriches our neighbourhood and serves as a model for sustainable and community-oriented development that is now being expanded across Canada.”

According to a 2017 city staff report, the Bathurst site was slated to become a park.

In a statement to CityNews, the City of Toronto says those plans remain in place.

“Necessary environmental work to prepare for park construction, depending on the outcome of the ESAs, Risk Assessment (RA) could take three to five years.  The lease was extended to ensure the site remained active while the City continues to work on necessary park development plans.”

With files from Dilshad Burman