Menkes, QuadReal Break Ground on 'Festival' at South VMC
Oct. 7, 2021
Yesterday, Menkes Developments and QuadReal Property Group broke ground in a ceremony marking the start of construction of Festival, the largest new mixed-use development at Vaughan Metropolitan Centre (VMC). Designed by IBI Group, the project is comprised of four towers connected by a podium, and will boast the tallest building in Vaughan's city centre, standing 59 storeys. Located in South VMC, the tower will anchor Menkes’ and QuadReal’s master-planned redevelopment of the 5.5-acre community, set between Highways 7 and 407 and running east-west from Jane Street to Highway 400.
Festival will be developed in phases. Upon its completion, the community will be home to more than 4,500 residents and will feature a total of 2,470 residential suites between its four towers. A central plaza is also part of the plan, to be encompassed by 85,000ft² of commercial space featuring dining, shopping, and lifestyle services.
“With our partners at QuadReal, we are committed to creating a truly urban new community in the heart of the VMC,” said Alan Menkes, President, Menkes High Rise. “That meant more than just delivering places for people to live. It meant creating a fully functioning, diverse community with a mix of uses, including retail spaces, office accommodation, and compelling lifestyle options."
Festival will feature a range of indoor and outdoor amenities, public open spaces, and a covered pedestrian area. Being located at VMC means that Festival will also be kitty corner to the Vaughan Metropolitan Centre subway station, which is located just to the east. The greater South VMC block will include 2,600,000ft² of office space, and more than 4,300ft² of retail space across 45 acres of dedicated non-residential development space.
“It needed to appeal to the mix of residents, employers and employees and guests that will live, work and play here, and it needed to reflect the commitment of City leaders to create a thriving downtown core around our community,” said Menkes.
Occupancies in the first phase at Festival are anticipated to begin in the Fall of 2024.