Canada’s Oxford Properties has unveiled plans to build the largest mixed-use development in Toronto’s history.
The $3.5 billion mixed use project will deliver 3.3 million square feet of office space, 800 residential rental units, and three acres of public space.
Eric Plesman, executive vice president of North America, Oxford Properties, said, “Our goal at Oxford is to connect people to exceptional places, so we are creating an ambitious project that adds to Toronto’s ongoing evolution as a world-class city to live and work in.”
Union Park has been designed by Pelli Clarke Pelli Architects. Supporting Pelli Clarke Pelli is Toronto’s Adamson Associates, the executive architect for Canary Wharf in London, and The Stack in Vancouver.
The project will comprise 3.3 million square feet of office space across two towers and 200,000 s/f of “destination retail.” Podium levels will feature office floor plates of 100,000 s/f, which are in high demand by growing tech firms.
“This development will bring tens of thousands of jobs to Toronto and will create a progressive new workplace and community for working and living,” added Plesman. “The population in Toronto’s core has exploded over the past decade, and our family-friendly multi-bedroom apartments and day-care will help to address the need for housing that allows families to continue living in the core.”
Oxford Properties, wholly owned by the Ontario Municipal Employees Retirement System since 2003, partnered with Related Companies in 2010 to build the 26-acre Hudson Yards on Manhattan’s west side.
Its portfolio includes 60 million square feet of office, retail, hotel, industrial, land and multi-residential assets in global gateway cities. As well as Hudson Yards, some of its most recognized assets include Olympic Tower in Manhattan and Berlin’s Sony Center.