Fengate Asset Management has launched Toronto Rail Yards, a new mixed-use community that will be built above the active rail corridor between Bathurst Street and Spadina Avenue in Toronto.

The company says Toronto Rail Yards will bring together housing, transit, office, retail and more in downtown Toronto. Toronto Rail Yards is a LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) project, built in partnership with Fengate. It will begin with a six-acre deck that is extended over the rail yard to maximize the public realm while connecting to GO Transit and the city’s broader transit network through the future Spadina-Front GO Station, which is one stop from Union Station. 

“Great cities are built with ambition, and with a responsibility to leave something meaningful behind,” said LPFCEC, LiUNA International Vice President Chair and Regional Manager for Central and Eastern Canada Joseph Mancinelli. “Toronto Rail Yards will create homes people need, jobs that sustain families and a legacy for the city. The deck alone is expected to create more than 4,600 construction jobs and generate more than nine million union construction hours, making this not only a transformative investment in Toronto’s future, but a testament to what union labor can build for generations to come.” 

Fengate notes Toronto Rail Yards is being delivered by Henning Larsen, alongside firms such as Hines, PCL, WW+P Architects and RJC Engineers.

“The design of Toronto Rail Yards is rooted in the neighborhood—creating a new urban environment for daily community life, shaped around how people will arrive, gather and feel connected to the city and to one another,” said Henning Larsen Global Market Director Michael Sørensen. “The scale, materiality and microclimate of its welcoming spaces will make Toronto Rail Yards a place with a genuine sense of belonging at its core.” 

The project also aims to help the city of Toronto reach its net zero goals by 2040. According to Fengate, the project will be delivered in phases to minimize construction impacts while delivering the project efficiently. Site preparation is anticipated to begin in 2028, with construction on the deck to begin later in the year. The deck is expected to take three years to complete.

“Toronto Rail Yards will deliver the homes, public space and amenities the city needs through a project of exceptional scale, complexity and ambition,” said Fengate Real Estate President Jaime McKenna. “This is the kind of city-building LiUNA and Fengate are built to lead. Delivering a community of this magnitude above an active rail corridor takes vision, discipline and deep execution capability and with an outstanding team and strong partners in place, we are well positioned to bring a new landmark community to life for Toronto.”