IKEA Canada today announced its newest home in the heart of downtown Toronto in the Aura Retail Podium at 382 Yonge Street. Previously, this location was home to Bed Bath & Beyond.

No longer will IKEA lovers need to travel out of the city to shop at their favourite Swedish store.

The new IKEA location will be smaller to appeal to the urban neighbourhood. That said, the new store will still be over will be approximately 66,175 sq. ft occupying parts of the ground floor and entire second floor.

"Customers can expect to see the retailer's much-loved home furnishing inspiration throughout with a focus on affordable, sustainable and small-space living solutions that reflect the needs and dreams of Toronto residents," said IKEA's press release.

The IKEA Toronto downtown store will have over 2,000 IKEA products for immediate takeaway purchase and a display of larger furniture items available for home delivery.

"As one of the fastest growing cities in North America with a vibrant and diverse community, Toronto was a natural choice for us to launch our first downtown store," said Michael Ward, CEO and chief sustainability officer at IKEA Canada in the same press release.

With retail shopping in the city finally opening up again, having an iconic store like IKEA make downtown Toronto its home is sure to add some excitement for those looking for some retail therapy.

The only question left to ask is whether this new, smaller location will sell hot dogs and meatballs?