It looks like Vaughan is getting a massive development.
This new development is part of a 75-acre site that will eventually include 25 condo towers plus townhomes and “all the ingredients to establish this as a cultural destination in Vaughan.”
According to Jared Menkes, Executive Vice President and High-Rise Residential for the firm, the first phase of the project — two of the four towers — will be complete in 2024.
And buying a unit at Festival will starting in the $400,000 range.
According to the firm, the City decided they needed a pronounced downtown. So South Vaughan Metropolitan Centre (VMC) will have 430,000 square feet of retail, schools, parks, outdoor spaces and an outdoor community stage.
The building amenities include music and art rooms, sun lounge, oasis pool, relaxation and look-out lounge, party room with chef’s kitchen, social club, multi-media lounge, sports bar, kids play room, barbeque area with fire pits, outdoor theatre, and outdoor dog area.
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Along with the massive retail space is 45 acres of multi-park and public space as well as 17 kilometres of trails in South VMC alone.
When deciding to build in Vaughan, Menkes said there were a number of reasons the area was an attractive option.
“For starters it’s the largest employment centre in York Region and continues to grow. Secondly, VMC’s masterplan for a vibrant urban centre makes it an ideal location for those priced out of downtown but still looking for an urban setting and/or lifestyle,” Menkes told Daily Hive in a written email.
“South VMC, where Festival will be located, is designed as a true live, work play urban centre. Also, with the west expansion of the subway station to include Vaughan Metropolitan Centre and easy access to major highways is important to so many buyers seeking a work/life balance.”
He also noted the development offers a unique blend of urban and suburban.
“Residents will get to reside in a lively cultural hub, surrounded by arts and entertainment, and all that City life has to offer, but they also get to enjoy plenty of green space,” he said.
While the development won’t be done for a few more years, it’s worth keeping in mind if Toronto becomes too pricey but you want to stay close to the city centre.