TORONTO—Vandyk Properties has announced that PCL Construction will serve as the construction manager of record for its Grand Central Mimico project in Toronto.
Grand Central Mimico will feature two million square feet of mixed-use development valued at over $2.5 billion in new assets once complete. The project is a result of the first binding transit-oriented development agreement signed between Metrolinx and a developer, stated a recent release.
The first phase of Grand Central Mimico, The Buckingham, launched in March 2021 and Vandyk reports that most of the 749 units are sold out, with the remaining units allotted to an affordable housing program targeting first-time buyers. The affordable homes program, funded in part by the City of Toronto, is expected to launch in fall or winter of 2021.
The Buckingham will include 20,000 square feet of retail space, to be anchored by a grocery store, shops and restaurants, and 30,000 square feet of office space. The commercial component will be in the podium below the residences.
“PCL is one of the largest, most reputable construction companies in North America and we are incredibly proud to appoint them as our constructor for phase one of our Grand Central Mimico project,” said John Vandyk, president and CEO of Vandyk Properties, in a statement. “Their commitment to quality, safety and innovation are what makes PCL the perfect choice to kick off the construction of Toronto’s first, true transit-oriented community.”
Construction of Grand Central Mimico’s first phase is anticipated to begin in Q3 of 2022. The project will span four city blocks centred around a new Mimico GO Station connecting residents to downtown Toronto and the future Ontario Line.
The project will feature nine towers and will be located 500 metres from the Gardiner Expressway.
The upcoming phases of the Grand Central Mimico project will also be mixed use, primarily residential, with approximately 2,500 additional units.
“We are thrilled to build the first phase of Grand Central Mimico in the historic Mimico neighbourhood,” said Marc Pascoli, vice-president of PCL Constructors Canada (Toronto). “Vandyk Properties are industry leaders in revolutionizing the product offering in North America, and we feel honoured to be part of creating a community that occupants will be proud to call home by bringing their vision for this master-planned community to life.”
Pretending a Mimico development connects residents to the Ontario Line is like saying it will connect residents to James North in Hamilton or TTC’s line 1 just because it is on the Lakeshore GO. That’s quite the stretch to make and largely reads as being dishonest.