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Fengate and Address buy Toronto rental development site
27 October 2026 | Land acquisition | Canada | 250 units | Development
The acquisition marks the start of a partnership focused on developing rental homes, including affordable units, in Toronto's Leslieville neighbourhood.
Key details
Asset type | Development |
Location | Toronto, Canada |
Capacity | 250 units |
Buyer 1 | Fengate, on behalf of LiUNA |
Buyer 2 | Address |
Seller | Undisclosed |
Value | Undisclosed |
Source: Fengate
The partners have bought 880 Eastern Avenue and 80 Knox Avenue and will act as co‑development managers. Construction is expected to begin in late 2027, with LEED certification targeted. The site is near existing public transport links and the planned Ontario Line stations at Leslieville and East Harbour.
Strategic context
Address draws on Capital Developments' experience in delivering more than 5,000 homes in Toronto, while Fengate is investing on behalf of the LiUNA Pension Fund of Central and Eastern Canada.
The partnership combines that development expertise with pension‑backed capital to expand Fengate's rental portfolio into eastern Toronto. The site already benefits from existing public transport links, while the planned Ontario Line is expected to further improve connectivity.
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