Ontario’s First Transit-Oriented Community Appoints PCL Construction
September 29, 2021 (TORONTO) – Vandyk Properties, a leading city builder in real estate development and investments, today
announces PCL Construction as the official construction manager of record for the master-planned, transformational community of Grand Central Mimico.
A highly-anticipated development, Grand Central Mimico marks the first-ever binding agreement between Metrolinx and a developer, encompassing over two million square feet of mixed-use development to completely transform The Mimico Triangle. Trailblazers in recognizing the opportunity for urban growth and infrastructure, Vandyk is leading the intensification and revitalization of this ideally-situated property as majority owners of this new district, which is estimated to be valued at over $2.5B in created assets once complete. To help bring phase one of Grand Central Mimico to fruition are industry-leading construction experts, PCL Construction.
“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,”
says John Vandyk, President and CEO of Vandyk Properties. “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 to the community of Mimico.”
Grand Central Mimico: Toronto’s West-End Neighbourhood Success Story
The first phase of Grand Central Mimico, The Buckingham, launched in March 2021. Since its launch, the community has seen incredible interest and support.
To date, The Buckingham’s 749 units are almost completely sold through — the remaining units are currently on reserve for Vandyk’s soon-to-be-launched affordable housing program, funded in part by the City of Toronto, targeting first-time homebuyers. This program is anticipated to launch fall/winter 2021.
Once complete, The Buckingham will include units with a variety of different floor plans appealing to nearly all buyer demographics; approximately 20,000 square feet of retail space, to be anchored by an urban grocery store, shops and restaurants; and approximately 30,000 square feet of office space. The commercial components will be in the podium below the residences. Construction for Grand Central Mimico’s first phase is anticipated to begin in Q3 of 2022.
“We are thrilled to build the first phase of Grand Central Mimico in the historic Mimico neighbourhood,” said
Marc Pascoli, Vice President and District Manager of PCL Constructors Canada Inc. (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.”
The upcoming phases of the Grand Central Mimico project will also be mixed-use, primarily residential, with approximately 2,500 additional units and a new integrated Mimico GO Transit station. As Grand Central Mimico’s majority landowners and project leaders, Vandyk, together with industry experts like PCL, will continue to oversee the completion and delivery of the modern reconstruction of Mimico GO Station, for Metrolinx, the Province of Ontario and Mimico residents.
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