Toronto, Canada – Concert Properties today held a ground-breaking ceremony to kick off construction on the first phase of Village Gate West, a unique new multi-phase, mixed-use residential community located at 5145 Dundas Street West in Toronto. Village Gate West promises to be a ground-breaking development in more ways than one, as Concert partners with OMERS through Borealis Infrastructure and Sun Life Financial to design a new urban community and create a focus for the western part of the city.
“Strategically located, Village Gate West will transform the current site into a landscaped oasis that is both affordable and a comfortable, safe and convenient place to live at the western end of the historic Village of Islington,” says Concert President & CEO David Podmore.
Situated close to a variety of shopping locations, including the Kingsway, Bloor West Village and Sherway Gardens, Village Gate West is just minutes from the downtown core. However, this new pedestrian-friendly neighbourhood will feel a world apart, with brick pathways and open green spaces encouraging a new sense of community for apartment renters, seniors and condo buyers alike.
“It has been a long time since a rental building of this magnitude has been built in the area and we are very pleased about the opportunity to redevelop an important part of the city,” says Paul Haggis, President of OMERS. “Working together with Concert and Sun Life we look forward to making this exciting new vision a reality.”
Phil Gillin, Vice President Canadian Real Estate, Sun Life Financial is also delighted about the project saying, “We are happy to partner with two great companies that are guided by an investment philosophy that emphasizes building value over the long run. Together we will take these 3.7 acres of land, which Sun Life has owned for more than fifty years and transform them into a vibrant new community.”
With the commitment to build Phases 1 and 2 of Village Gate West, Concert and OMERS will have approximately 1,150 new assured rental living units in the Toronto area that are either completed, under construction or that will soon commence construction.