Ontario Construction News staff writer
Construction is underway on the King-Jane Business Park, a major industrial development in King Township that will include about one million square feet of space for LG Electronics Canada.
The LG project was announced Sept. 3 at a groundbreaking ceremony. The company will occupy two buildings within the five-building King-Jane Business Park, located at King Road and Jane Street with direct access to Highway 400.
TriAxis Construction is the construction manager.
As the largest Zero Carbon Certified industrial development currently underway in the GTA, King-Jane Business Park shows how efficient approvals, business-friendly processes, and strategic partnerships can drive economic growth and responsible development.
The King-Jane Business Park is being developed as the largest Zero Carbon Certified industrial development currently underway in the Greater Toronto Area, combining large-scale industrial construction with sustainability objectives.
The project is the result of more than 25 years of planning, employment land protection, infrastructure investment and environmental review.
The business park will include five industrial buildings, with full occupancy expected by 2030.
At full build-out, the development is projected to increase the property’s assessed value from approximately $29.4 million to $216 million, subject to Municipal Property Assessment Corporation assessment.
Across the five buildings, total development charge collections are projected at approximately $70.2 million as the remaining buildings progress through development and building permit approvals.
Also, King Township’s employment land inventory will get a boost at a time when the municipality is planning for significant job growth.
King has about 150 acres of employment lands under development and is planning for approximately 17,700 jobs by 2051.
The King-Jane Business Park’s location at Jane Street and King Road provides direct access to Highway 400 and regional transportation networks.
LG will join a regional industrial and technology base that includes more than 100 corporate and third-party warehouses and distribution centres, as well as more than 4,800 information and communications technology companies.
Officials say the project reflects more than two decades of work to protect employment lands and provide the infrastructure needed to accommodate industrial development.
An expedited timeline was issued to support the project’s targeted occupancy schedule.
“This investment reflects the collaborative efforts of Township staff, development partners and regional stakeholders working together to support responsible growth,” said Daniel Kostopoulos, chief administrative officer for King Township. “King Township is committed to providing a business-friendly environment that helps companies invest, create jobs, and contribute to the long-term prosperity of the community.”
