Real Estate News

One of the biggest real estate projects in Canada planned for downtown Toronto

Image by brigachtal from Pixabay

Oxford Properties Group is planning a $3.5-billion development in downtown Toronto that would be one of Canada's biggest real estate projects.

The property arm of pension fund OMERS aims to build a 4.3 million-square-foot, mixed-use complex on a four-acre site just north of the Rogers Centre and CN Tower. The development, called Union Park, is the largest ever for Oxford outside of Manhattan's Hudson Yards, the $25-billion project it's co-developing with Related Cos.

Plans call for two office towers, of 58 and 48 storeys, about 800 rental apartments across two buildings and 200,000 square feet for retail. Three acres will be devoted to public space, including an urban park over the Union Station rail corridor, which spans Blue Jays Way to the John Street Bridge.

"It's the culmination of our experience in a number of different cities, and we've looked at what we've done, whether in Europe or in the U.S. with Hudson Yards," Eric Plesman, Oxford's executive vice-president of North America, said in an interview. "This is a site that's exceptionally significant, and it's rare that you can find this size of site with proximity to the core."

Continue to read on: The Hamilton Spectator

Share this News