ORCA Project Development Acquires New Partners
1 min read
The highly anticipated ORCA project, a 16-acre mixed-use development in downtown Toronto, have acquired significant investment opportunities from Fengate Asset Management for a tradeoff of a co-development partnership. The investment was made on behalf of LiUNA Pensions Fund of Central and Eastern Canada in support of the build headed by CRAFT Development Group and Kingsmen Group Inc.
The ORCA project comprises high-rise residential, affordable housing, green spaces, commercial, retail and entertainment venues. The unique location of this project, situated above the rail corridor between Bathurst Street and Blue Jays Way in the heart of the city, adds to its investment potential. The project will take upwards of 10 years to be completed.
Joseph Mancinelli of LiUNA Pension Fund of Central and Eastern Canada stated, "The master-planned development pays close attention to urban resident needs for convenience with transit, retail access and dynamic public spaces including ample greenspace. This project brings a tremendous vibrancy to the city while addressing critical needs including housing, transit and green space."
The project will fulfill the cities' evolving demands while utilizing otherwise lost development space from the rail corridor.
Learn more about the ORCA project.
Reference
Toneguzzi, M. (2021, April 07). Fengate, LIUNA become partners in downtown Toronto ORCA PROJECT. Retrieved April 16, 2021, from https://renx.ca/fengate-liuna-partners-downtown-toronto-orca-project/
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