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Fengate PCL awarded $1.5 billion P3 project

DCN News Services
Fengate PCL awarded $1.5 billion P3 project

TORONTO — Infrastructure Ontario and the Ontario Ministry of Government and Consumer Services has awarded a fixed-price, $1.536 billion public-private partnership contract to Fengate PCL Progress Partners (FP3) for the Macdonald Block Reconstruction Project near Queen’s Park in Toronto.

The project consists of four towers and a podium, a total gross building area of approximately 1.7 million square feet, and an administrative hub that has not had a major renovation since 1971. Design work and construction activities are planned to begin immediately. Construction is expected to be substantially complete in the spring of 2024 with staged occupancy beginning soon after. The contract requires FP3 to design, build and finance the reconstruction of the complex and maintain the complex for 30 years including lifecycle repair and renewal.

The FP3 team includes:

  • Developers: Fengate Asset Management and PCL Investments Canada Inc.
  • Design-Builder: PCL Constructors Canada Inc.
  • Design Architect: WZMH Architects
  • Facilities Management: Johnson Controls Canada
  • Financial Advisor: National Bank Financial.

The reconstruction project will update all core building systems which have reached the end of their useful life, indicates a release. Extensive remediation work will also be undertaken to remove designated substances from the complex and heritage features will be preserved.

The reconstructed complex will accommodate significantly more employees and reduce the need for approximately 586,000 square feet of third-party leased office space, adds the release.

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