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TORONTO \u2014 Fengate Asset Management has closed on a purpose-built rental development site at 4\u201310 Beamish Drive in Etobicoke, which is a transit-oriented parcel located near the Kipling Transit Hub.<\/p>\n
Construction is planned for 2026, and the site is zoned for a 44-storey, 509-unit residential tower that will have a range of studios to three-bedroom units.<\/p>\n
Located at the intersections of Dundas Street West, Bloor Street West and Kipling Avenue, the site has direct access to TTC subway lines, GO Transit and MiWay bus services.<\/p>\n
The project at 4\u201310 Beamish Drive is meant to complement the broader Six Points Redevelopment Plan, a release reads, which is an initiative by the City of Toronto that aims to improve roadways, pedestrian and cycling infrastructure, and create mixed-use destinations such as the new Etobicoke Civic Centre, which includes a library, art gallery, child care centre and recreation facilities.<\/p>\n
The plan also adds over 12,000 square metres of new parkland, including Dunkip Park, and features a district energy system for near-zero emissions.<\/p>\n
4\u201310 Beamish Drive will target the Toronto Green Standard for sustainable building design and LEED Silver certification.<\/p>\n
Fengate is managing this investment on behalf of the\u00a0LiUNA\u00a0Pension\u00a0Fund\u00a0of\u00a0Central\u00a0and\u00a0Eastern\u00a0Canada<\/a> as well as another Canadian pension fund.<\/p>\n<\/p><\/div>\n