Fengate, LiUNA aim to transform Toronto railway corridor with major project
Proposal calls for adding 3,868 units across seven residential towers
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By Neil Sharma CoStar News
June 11, 2026 | 5:36 p.m.
Fengate Asset Management has plans to transform a swath of land in downtown Toronto by building a sprawling mixed-use development with residential, office and retail space on top of the railroad tracks that traverse the site.
Fengate, in backing from the LiUNA Pension Fund of Central and Eastern Canada, said it plans to build a massive project called Toronto Rail Yards over the active rail corridor on Front Street between Bathurst Street and Spadina Avenue.
At build-out, plans call for Toronto Rail Yards to include 3,868 units across seven residential towers, a mix of apartments and condominiums. Fengate also plans to develop a 947,235-square-foot office tower and 51,721 square feet of retail space dispersed throughout the site.
The master-planned development along Front Street would span the length of Bathurst Street to the west and Blue Jays Way to the east.
Jordana Ross, Fengate’s vice president of development, told CoStar News that more than a quarter of the residential suites will be sufficiently sized for families.
'Family-sized' units in mix of rentals and condos
“We’re hoping that’s going to be a really big move towards helping solve the city’s housing supply needs,” Ross said. “Twenty-seven percent of those units will be family-sized, so two- and threebedrooms across all those towers. We don’t have the tenure currently, but because of the scale, it’ll be a mix of both rental and condos as the project unfolds.”
The development is an example of what the provincial government is seeking in its intensification mandate, the Places to Grow Act of 2005, because of its mixed-use nature, population density, and the Toronto Transit Commission’s Ontario Line subway extension.
There will be a station several blocks north at King and Bathurst Streets. Moreover, there will be a GO Station at Spadina Avenue and
Front Street.
Toronto Rail Yards is adjacent to The Well, another master-planned community that’s contributed to the transformation of the neighbourhood, and will finally augment the barren south side of Front Street between Spadina and Bathurst that overlooks railway tracks.
Henning Larsen Architect was chosen for this project, Ross said, because of the firm’s experience with master-planned communities and developing public realms. The Toronto Rail Yards complex will be fully owned by LiUNA.
Public-realm 'portals' to provide clearance for trains
“Front Street needs a lot of improvement, but we also have a bit more complexity with this site in that we have to actually go up and over the rail quarter to a certain extent,” Ross said.
He added that “the promenade level of the public realm is going to be a little bit higher because we need to provide clearance for the trains underneath.
Henning Larsen and our team have come up with a series of what we’re calling ‘portals,’ which are basically these public realm open spaces that include really creative design strategies, opportunities for public art, opportunities for specialized landscaping, seating, and for people to meet."
Joseph Mancinelli, an international vice president and regional manager for LiUNA's Central and Eastern Canada, said the Toronto Railyards project will drive economic development in addition to adding needed housing.
“Toronto Rail Yards will create homes people need, jobs that sustain families, and a legacy for the city," Mancinelli said in a statement.
He added that "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 labour can build for generations to come.”
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Properties
Toronto Rail Yards
595 Front St, Toronto, ON Companies Finance and Insurance
Fengate Asset Management