Developer Vandyk Properties has named PCL Constructors as its construction manager for the Grand Central Mimico project – Ontario’s first transit-oriented development along the future Ontario Line subway.

The developer announced the contract award at the end of September. The initiative marks the first-ever binding agreement between Metrolinx and a developer, and encompasses more than two million square feet of mixed-use development in downtown Toronto. The entire project is estimated to be worth than $2.5 billion in created assets once complete.

“PCL is one of the largest, most reputable construction companies in North America and we are incredibly proud to appoint them as our constructor for phase one of our Grand Central Mimico project,” said Vandyk Properties president John Vandyk. “Their commitment to quality, safety and innovation are what makes PCL the perfect choice to kick-off the construction of Toronto’s first, true transit-oriented community to the community of Mimico.”

The first phase of Grand Central Mimico, The Buckingham, launched in March 2021. Its 749 units are almost completely sold out, with any remaining units on reserve for a soon-to-be-launched affordable housing program, funded in part by the City of Toronto. The program is anticipated to launch later this fall.

The Buckingham will include approximately 20,000 square feet of retail space and approximately 30,000 square feet of office space. The commercial components will be in the podium below the residences.

Construction is anticipated to begin in the third quarter of 2022.

“We are thrilled to build the first phase of Grand Central Mimico in the historic Mimico neighbourhood,” said Marc Pascoli, Vice President and District Manager of PCL Constructors Canada Inc. (Toronto). “Vandyk Properties are industry-leaders in revolutionizing the product offering in North America, and we feel honoured to be part of creating a community that occupants will be proud to call home by bringing their vision for this master-planned community to life.”

The upcoming phases of the Grand Central Mimico project will also be mixed-use, primarily residential, with approximately 2,500 additional units and a new integrated Mimico GO Transit station. When the development is complete, it will feature 1.85 million square feet of residential space, four city blocks of streetscapes, pedestrian paths and public spaces, nine architectural towers, and a fully integrated GO and Metrolinx train station.

Featured image: PCL Constructors will serve as construction managers for the Grand Central Mimico project in downtown Toronto. (Vandyk Properties)