An enormous new Harry Rosen flagship store is set to open in Toronto, and its taking over the space of another very popular store.

Yorkville has been undergoing some massive changes in recent months, from the announcement that a massive three-storey lululemon store will be taking up residence at 2 Bloor West, to the closures of the neighbourhood's iconic Pusateri's location and Flo's diner.

Now, there's another major player moving in: a 38,000-square-foot Harry Rosen location is set to move in at 153 Cumberland Street.

According to Harry Rosen's CEO and Chairman, Larry Rosen "most important, innovative, and immersive flagship" in the brand's 70-year history.

The new three-storey flagship will go in just 200 metres away from the menswear retailer's current Bloor storefront, taking over the current lululemon Yorkville location.

The project is managed by Kingsett Capital, the same real estate firm behind the development of 2 Bloor West and the massive Cumberland Terrace development.