TORONTO — Construction has now started on Yonge City Square, the largest new residential project to begin construction in 2024 in the greater Toronto area and the first new development in the Hoggs Hollow neighbourhood in over 20 years, states developer The Gupta Group.
A recent groundbreaking event, held at the project’s site of 4050 Yonge St., had Premier Doug Ford in attendance.
Construction is commencing ahead of schedule, explains a release, and the project will aim to deliver 700 new homes to the city.
Yonge City Square will feature two highrises at 32 and 14 storeys with ground-level retail, commercial space and 36,000 square feet of “resort-inspired” amenities including a ninth-floor terrace, a fitness centre, entertainment lounges with golf simulators, an outdoor mini-put golf course and an outdoor pool.
The development backs on to the Don Valley Golf Course and is also connected to the York Mills subway station.
“Today’s groundbreaking represents not only the beginning of Yonge City Square but also a testament to Toronto’s growth and resilience,” said Steve Gupta, founder and chairman of The Gupta Group, in a statement. “This development will transform the Hoggs Hollow neighbourhood and inject vitality into the local economy.”
As part of the project, for every unit sold, The Gupta Group will donate $1,000 to the Princess Margaret Cancer Foundation, with a commitment to top off the donation at $1 million upon the final closing of all units, the release adds.
Occupancy for Yonge City Square is expected in spring 2028.
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