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Construction is officially underway at\u00a0LSQ<\/a>,\u00a0Almadev<\/a>\u2019s 15-acre masterplanned community rising at Sheppard Avenue East and Victoria Park Avenue in North York. The developer marked the groundbreaking on April 8, celebrating an early-construction milestone in a market where many projects remain paused or delayed. Located on the edge of the Consumer Road Business Park, one of the Greater Toronto Area\u2019s largest employment districts, LSQ is replacing a formerly exclusively commercial site with a mixed-use destination.<\/p>\n The launch of construction comes less than two years after the developer brought the community to market, making it one of the few condominium projects in Toronto that launched in 2023 to have broken ground. In a climate where new high-rise activity has slowed dramatically, the ground breaking speaks to Almadev\u2019s experience with large-scale communities.<\/p>\n LSQ is envisioned as a complete community: housing, employment, and amenity spaces within a well-connected urban setting. The plan includes residential towers, office and retail uses, and a new public park. Situated just east of Highway 404 and a short distance from Don Mills subway station, the site could also benefit in the future from a new station on the proposed\u00a0Sheppard Line 4 Subway Extension<\/a> right at Victoria Park Avenue, now being studied.<\/p>\n Construction at LSQ has begun with the first phase, which includes two towers,\u00a0LSQ1 and LSQ2<\/a>, rising at 43 and 30 storeys respectively. Together, they will add 800 residential units, including 83 affordable rentals, with a shared underground garage and EV-ready parking. LSQ1 is already 85% sold, and LSQ2 introduced a series of incentives last year aimed at improving affordability and easing entry for buyers. The momentum marks a significant first step in Almadev\u2019s broader multi-phase vision for the site, which includes four additional blocks.<\/p>\n Designed by a team that includes\u00a0WZMH Architects<\/a> for the masterplan, Wallman Architects for LSQ1 and LSQ2, and\u00a0Ferris + Associates\u00a0<\/a>for landscape architecture, LSQ brings together residences and workplace environments within a cohesive urban plan. The community will be anchored by a new 1.2-acre public park and supported by more than 400,000 square feet of office and retail space. Infrastructure to support cycling and transit use has been planned from the outset, with bike storage and shuttle service to the subway helping shape a walkable, transit-oriented environment.<\/p>\n For Almadev, the groundbreaking affirms a long-term investment in building at scale during a challenging moment for the industry. \u201cWe\u2019ve always believed in this area and its potential to grow into something exceptional,\u201d said Rafael Lazer, CEO. \u201cAs experts in masterplanned communities, we understand what it takes to bring housing at scale \u2014 and more importantly \u2014 how to do it right. Reaching this milestone at LSQ, especially in today\u2019s challenging market, is no small feat. It\u2019s a powerful testament to the strength of the development, the resilience of the vision, and the incredible talent and dedication of our team. I couldn\u2019t be prouder of what we\u2019re building here.\u201d<\/p>\n With first occupancy for LSQ1 and LSQ2 projected for 2028, Almadev is already advancing plans for future phases of the community, including additional towers, expanded commercial uses, and refined public realm elements. At the same time, the developer continues to progress on other masterplanned projects across the GTA, including\u00a0Galleria on the Park<\/a> in Toronto’s West End\u00a0where Galleria III<\/a> is currently under construction, and an upcoming community at\u00a03300 Rutherford Road<\/a> in Vaughan.\u00a0<\/p>\n UrbanToronto will continue to follow progress on these developments, but in the meantime, you can learn more about them from our Database files, linked below. If you’d like, you can join in on the conversation in the associated Project Forum thread or leave a comment in the space provided on this page.<\/p>\n * * *<\/p>\n UrbanToronto has a research service,\u00a0UTPro<\/a>, that provides comprehensive data on development projects in the Greater Golden Horseshoe \u2014 from proposal through to completion. We also offer\u00a0Instant Reports<\/a>, downloadable snapshots based on location, and a daily subscription newsletter,\u00a0New Development Insider<\/a>, that tracks projects from initial application.<\/p>\n