Menkes Developments and QuadReal topped off Festival, a four-tower condo community in the south Vaughan Metropolitan Centre, which broke ground in 2021.
The development sits on a 5.5-acre property bounded on the north and south by Highways 7 and 407, and Hwy 400 to the west and includes four towers ranging in height from 41 to 59 storeys and 2,470 residential units. The project was named Canada’s Best-Selling Condominium Community for two consecutive years in 2020 and 2021.
The first tower began welcoming residents in early 2024, with occupancies expected to continue for all towers through to Fall 2025. Festival will eventually be home to more than 5,000 residents.
Across the project are 70,000 square feet of indoor amenities, 85,000 square feet of commercial space, public open spaces, and a covered pedestrian mews connecting residents and visitors to future phases of the masterplan. The overall value of Festival is $1.5 billion dollars.
“The creation of both Festival and the broader Assembly Park community has been a collaborative and thoughtful process, and we are thrilled to officially top off this dynamic part of the new Vaughan Metropolitan Centre,” said Toby Wu, executive vice president of development, Canada, QuadReal. “Leveraging a long-term approach to investment and development enables us to build thriving communities in markets where people want to live.”
Last year Menkes and QuadReal launched the next phase of the VMC masterplan known as Bravo – a three-tower community directly south of Festival. Bravo will feature 1,654 residential units, at grade retail, the continuation of the covered pedestrian mews and a privately-owned public park space.
“We brought the urban lifestyle that we deliver in our large mixed-use projects like Harbour Plaza in the South Core and Sugar Wharf on Toronto’s Waterfront to the VMC,” said Jared Menkes, executive vice president of high rise residential.
The partners also recently completed Mobilio, VMC’s first mixed-density residential community with three mid-rise condominium towers (750 units), 400 townhouses, park space and amenities all in one site.
