TORONTO — Fengate Asset Management has closed on a purpose-built rental development site at 4–10 Beamish Drive in Etobicoke, which is a transit-oriented parcel located near the Kipling Transit Hub.
Construction is planned for 2026, and the site is zoned for a 44-storey, 509-unit residential tower that will have a range of studios to three-bedroom units.
Located at the intersections of Dundas Street West, Bloor Street West and Kipling Avenue, the site has direct access to TTC subway lines, GO Transit and MiWay bus services.
The project at 4–10 Beamish Drive is meant to complement the broader Six Points Redevelopment Plan, a release reads, which is an initiative by the City of Toronto that aims to improve roadways, pedestrian and cycling infrastructure, and create mixed-use destinations such as the new Etobicoke Civic Centre, which includes a library, art gallery, child care centre and recreation facilities.
The plan also adds over 12,000 square metres of new parkland, including Dunkip Park, and features a district energy system for near-zero emissions.
4–10 Beamish Drive will target the Toronto Green Standard for sustainable building design and LEED Silver certification.
Fengate is managing this investment on behalf of the LiUNA Pension Fund of Central and Eastern Canada as well as another Canadian pension fund.
