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Hamilton Spectator
21-07-2025
- Business
- Hamilton Spectator
Fengate closes on transit-oriented purpose-built rental site in Etobicoke
TORONTO, July 21, 2025 (GLOBE NEWSWIRE) — Fengate Asset Management ('Fengate') is pleased to announce the closing of a landmark purpose-built rental development site at 4–10 Beamish Drive in Etobicoke, a strategic, transit-oriented parcel located just steps from the Kipling Transit Hub. Adding to its growing multi-family portfolio, Fengate is managing this investment on behalf of the LiUNA Pension Fund of Central and Eastern Canada ('LiUNA'), as well as another Canadian pension fund. Set to begin construction in 2026, the site is zoned for a 44-storey, 509-unit residential tower which will offer a range of units from studios to three-bedroom units within a modern, connected, and community-focused living experience in one of Toronto's most rapidly transforming neighbourhoods. Located at the intersections of Dundas Street West, Bloor Street West, and Kipling Avenue, the site is well positioned with direct access to TTC subway lines, GO Transit, and MiWay bus services, providing seamless connectivity across the Greater Toronto and Hamilton Area (GTHA). 'We are proud to partner on another development that will introduce more high quality purpose-built rental homes to the city and create jobs for skilled trades workers,' said Joseph Mancinelli, International Vice President and Regional Manager for Central and Eastern Canada and Chair of the Board of Trustees at LiUNA. 'Through each new project, we are advancing LiUNA's mission of building up stronger communities and enhancing the quality of life for Canadians while generating positive financial returns for the members of LiUNA.' 4–10 Beamish Drive will complement the broader Six Points Redevelopment Plan, a transformative 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, childcare centre, and recreation facilities. 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. 'This development represents a significant step forward in our commitment to delivering dynamic, transit-connected rental housing in vibrant urban communities,' said Jaime McKenna, President, Fengate Real Estate. 'With its proximity to major transit, retail, and civic amenities, 4–10 Beamish Drive is poised to become a cornerstone of the Six Points neighbourhood revitalization, creating more jobs and bringing more homes to Toronto's housing market.' 4–10 Beamish Drive will target the Toronto Green Standard for sustainable building design and LEED Silver certification, aligning with Fengate's mission of sustainable urban development and community integration. With three residential developments in construction in the first half of 2025 and another three in construction before the end of the year, and a pipeline of over 25,000 residential units to be delivered over the next 10 years, Fengate is committed to providing a diverse range of best-in-class rental housing solutions to meet the needs of Canadians. MEDIA CONTACT Matthew Ventura Director, Communications and Marketing, Real Estate Fengate Asset Management 416-432-6194 About the LiUNA Pension Fund of Central and Eastern Canada Established in 1972, the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) is one of the largest multi-employer pension funds in Canada. With a diverse investment portfolio and over $12 billion in assets, LPFCEC has yielded positive returns for the plan, great work opportunities for LiUNA members, and has created many needed institutions across North America through a broad range of investments. Learn more at . About Fengate Asset Management Fengate is a leading alternative investment manager, with more than $40 billion of assets under management, focused on infrastructure, private equity, and real estate strategies. With offices and team members in Canada and the United States, Fengate has a proven track record of successful projects and partnerships and an established reputation as one of the most active real asset investors and developers in North America. Fengate Real Estate, a division of Fengate Asset Management, is a fully integrated real estate investment, development and asset management platform with a $20 billion portfolio, including a 25,000+ residential unit pipeline and 5M+ square feet of industrial space in varying stages of development. Learn more at .
Canada Standard
29-05-2025
- Politics
- Canada Standard
Ontario Legislation Could Override Local Green Standards, Stall Climate Progress
A new Ontario bill could set back green building efforts and mark "the beginning of the end of urban planning" in the province, gutting city-led climate policies as extreme weather risks are rising, warn critics. Bill 17, the proposed Protect Ontario by Building Faster and Smarter Act, would override bylaws like Toronto's Green Standard by "clarifying" that municipalities do not have jurisdiction to set green construction standards. Climate advocates say the measure would stall progress on municipal climate goals while burdening homeowners with higher energy and retrofit costs down the line. The Doug Ford government says the bill will bring regulatory consistency across Ontario, speed up construction, and reduce housing costs. But the provincial building code lacks many of the green features cities like Toronto require, writes The Canadian Press. The Toronto Green Standard, for example, mandates stormwater retention features to reduce flood risk during heavy rainfall, minimum tree canopy coverage to combat extreme heat, and electric vehicle charging infrastructure in new residential parking spaces. The Ford government eliminated that last requirement from its own code shortly after coming to power. The bill follows a legal challenge filed last year by the Residential Construction Council of Ontario-an association of builders-to block Toronto from enforcing standards beyond those set out in the Ontario Building Code. The council was incensed by Toronto's green standards, which aim to improve air quality, transportation, energy usage, water efficiency, and waste diversion with a checklist of requirements for developers of new buildings, reports The Trillium. "These include everything from bicycle parking and pedestrian walkways to energy efficiency targets, trash compaction guidelines, and tree-planting quotas." View our latest digests Bill 17 will gut green building standards implemented in several other cities across Ontario, warn environmental advocates. The bill as it is now written will "set back green building efforts by 15 years," said Bryan Purcell, vice-president of policy and programs at The Atmospheric Fund (TAF), citing the period of time the Toronto Green Standard has been in place. "As buildings are the largest source of carbon emissions in most cities, it would make it impossible for cities to reach their climate targets," Purcell told The Energy Mix . The bill could lock nearly all new buildings into using gas as a primary fuel source, which would saddle home and building owners with higher energy costs while undercutting the economics of green building technology and services. "And it would create huge costs down the road, as retrofitting buildings to get off gas or enable electric vehicle charging is five to 10 times more expensive than building it right to begin with," he added. Other environmental organizations have also warned against the bill. In one recent post, the Toronto Environmental Alliance said the legislation would completely undermine municipal planning authority, leaving cities with few tools to adapt regulations to local conditions. Environmental Defence says the bill claims to address construction challenges, but focuses on "scapegoating municipal policies" instead of fixing the root issues-namely, provincial restrictions against mid-rise developments, which have caused a shortage of family-sized homes. "McMansion" rebuilds and sprawl are further problems, it adds. The Ontario government says its action to block municipal building bylaws is only a "clarification" to existing legislation-in particular, Section 8 of the Building Code Act , the legal foundation of the province's building code-which regulates how building permits are issued. But TAF argues that a city has the right to set green building standards unless they conflict with provincial rules. Purcell points to section 35(1), which he says "is generally interpreted to mean that if a building code requirement actively conflicts with a municipal bylaw, then the building code requirement takes precedence." That section authorizes local municipalities to pass bylaws "respecting the protection or conservation of the environment" in accordance with the provincial codes. A later subsection even specifies that 35(1) gives municipalities power to require green roofs on buildings, but does not address other green standards. By not stating the specific role of municipalities in setting building codes, the Building Code Act creates a grey area that could be interpreted to align with Purcell's reading. But it could also support the government's interpretation. Section 8 states that a building official must issue a permit for a building that meets the requirements of the Building Code Act except in a few prescribed circumstances. The list of exceptions does not include a carve-out for buildings that fail to meet municipal requirements. Municipalities are also considered "creatures of the provinces," and have "no constitutional protection whatsoever against provincial laws that change their structures, functions, and financial resources without their consent," writes the Centre for Excellence on the Canadian Federation. The wider concern is that Bill 17 will amount to a dramatic shift in authority for cities, and not just to manage their building regulations and address climate change. Purcell warns that Bill 17 would "be the beginning of the end of urban planning in Ontario" by instigating legal challenges to existing bylaws across the province, beyond the green building standards. "It could create a wild west type of development environment, where anything can be built anywhere and consultants working for developers approve their own submissions." Source: The Energy Mix
