PSP Investments and Northcrest Developments Partner with Global Real Estate Leader Hines for Downsview Airport Lands Redevelopment Project – Building.ca
Feb 21, 2024
The Hangar District development will be a collaboration between the Public Sector Pension Investment Board (PSP Investments) and Hines, in conjunction with Northcrest Developments, a subsidiary of PSP Investments.
On February 14, 2024, the Public Sector Pension Investment Board (PSP Investments) announced a partnership with Hines to develop The Hangar District alongside PSP Investments’ subsidiary, Northcrest Developments (Northcrest).
This partnership marks a milestone in the Downsview Airport Lands redevelopment.
The Hangar District, the first proposed neighborhood in the redevelopment of Downsview Airport Lands, is poised to serve as an example for the comprehensive transformation of the entire site in the coming years. The proposal, currently being reviewed by the City of Toronto, outlines plans for nearly 3,000 new residences, including rental apartments and affordable housing choices. Additionally, the proposal aims to generate over 7,000 new jobs, situated in repurposed hangar buildings and in new commercial and office spaces. The proposed development also includes amenities such as shops, parks, daycares, and lively public spaces.
