Fengate Asset Management closed on a purpose-built rental development site at 4–10 Beamish Drive in Etobicoke, a transit-oriented parcel located just steps from the Kipling Transit Hub.

Set to begin construction in 2026, the site is zoned for a 44-storey, 509-unit residential tower, which will offer a range of units from studios to three-bedroom units in one of Toronto’s most rapidly transforming neighbourhoods.

Located at the intersections of Dundas Street West, Bloor Street West, and Kipling Avenue, the site has direct access to TTC subway lines, GO Transit, and MiWay bus services, providing seamless connectivity across the Greater Toronto and Hamilton Area (GTHA).

The project will complement the broader Six Points Redevelopment Plan, a transformative initiative by the City of Toronto that aims to improve roadways, pedestrian and cycling infrastructure, and create mixed-use destinations such as the new Etobicoke Civic Centre.

“This development represents a significant step forward in our commitment to delivering dynamic, transit-connected rental housing in vibrant urban communities,” said Jaime McKenna, president, Fengate Real Estate. “With its proximity to major transit, retail, and civic amenities, 4–10 Beamish Drive is poised to become a cornerstone of the Six Points neighbourhood revitalization, creating more jobs and bringing more homes to Toronto’s housing market.”

The project will target the Toronto Green Standard for sustainable building design and LEED Silver certification.

Fengate is managing this investment on behalf of the LiUNA Pension Fund of Central and Eastern Canada (‘LiUNA’), as well as another Canadian pension fund.