Ontario Construction News staff writer
Developer VANDYK Properties says it is preparing to build a new two-million sq. ft. “master-planned and transit -tailored community” in South Etobicoke.
VANDYK said in a statement on Tuesday that the Grand Central Mimico in The Mimico Triangle would span over four city blocks, with nine towers “anchored by over 1.85 million sq. ft. of new residential living.”
In its statement, Vandyk Group of Companies said it was reintroducing itself as VANDYK Properties.
“As a privately owned real estate development and investment management company with over 40 years of experience in the North American real estate property sector, VANDYK Properties, who represents over one billion dollars in completed value creation and over one billion dollars in owned assets under development, will continue its commitment to creating sustainable neighbourhoods while also placing a strategic focus on investment management under its new name,” the statement said.
“We are, and always have been committed to investing in the cities that we believe and choose to build in, carefully considering each project as a reinvestment within the community,” John Vandyk, founder, president and CEO of VANDYK Properties said in the statement. “Focused on strategic growth, our vision is to continue to generate long-term value for our clients and foster strong relationships with our investors; all while delivering exceptional customer experiences.”
The news release describes the Grand Central Mimico as “a vibrant, all-inclusive, and future proof neighbourhood, the community will feature modern amenities, as well as open public spaces and winding parks all well within close proximity to Toronto’s downtown core.
“At the heart of this new district will be a modern reconstruction of the Mimico GO station with integrated access points to several new mixed-use buildings which will connect residents to downtown Toronto and the future Ontario Line in partnership with Metrolinx,” the statement said.
“We’ve seen that there is a growing demand and a real value proposition around the outer rings of the City of Toronto that are integrated nicely with both the downtown core and the suburbs of Toronto,” says Sherman Chan, vice-president, managing director, real estate, VANDYK Properties.
“Grand Central Mimico is catering to this demand; it is a neighbourhood that we believe will become Etobicoke’s most significant and relevant community with mobility and infrastructure at the forefront.”
The statement says other VANDYK communities under-way include:
- The Craftsman Condominium Residences in Mississauga’s Clarkson Village neighbourhood;
- Backyard Neighbourhood Condos in South Etobicoke’s Stonegate community;
- UPTowns in Brampton;
- And three projects in the Sarasota, Florida area.