VAUGHAN, ONT. — Menkes Developments Ltd. and QuadReal have broken ground to mark the start of construction at Festival, a four-tower community to rise in Vaughan, Ont.
The development will include the tallest tower in the city centre, a 59-storey residential building that will anchor the 5.5-acre community, bounded on the north and south by Highways 7 and 407, and Highway 400 to the west, stated a recent release.
At build-out, the new community will be home to more than 4,500 residents in a total of 2,470 residential suites. There will also be a central plaza with 85,000 square feet of commercial space that will include dining, shopping and lifestyle services.
“With our partners at QuadReal, we are committed to creating a truly urban new community in the heart of the Vaughan Metropolitan Centre,” said Alan Menkes, president of Menkes High Rise, in a statement. “That meant more than just delivering places for people to live. It meant creating a fully functioning, diverse community with a mix of uses, including retail spaces, outdoor uses, and compelling lifestyle options.
Occupancies at Festival are anticipated to begin in the fall of 2024.
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