В Торонто состоялась церемония начала строительства нового арендного комплекса Mimico Commons

Mimico Commons Groundbreaking Ceremony Groundbreaking ceremony for Mimico Commons in Toronto, Ontario, attended by James Maloney, Member of Parliament for Etobicoke-Lakeshore, and Amber Morley, Toronto City Councillor for Ward 3, Etobicoke-Lakeshore, and representatives from LiUNA, Fengate Asset Management, and the Rinomato Group of Companies. Mimico Commons Exterior rendering of Mimico Commons, a new rental community in Toronto's Mimico-Queensway neighbourhood. Mimico Commons is a LiUNA Pension Fund of Central and Eastern Canada ("LPFCEC”) project, developed in partnership with Fengate and RGC. Mimico Commons represents Fengate’s first development with RGC as both firms look forward to continuing to grow the partnership on future opportunities. The 10-storey development will deliver 271 new rental homes and 5,000 square feet of ground-floor retail positioned less than 250 metres from the Mimico GO Station on the Lakeshore West line, placing residents within a 15-minute train ride of Union Station. With exceptional connections to public transit, the Gardiner Expressway and Highway 427, Mimico Commons provides residents with seamless access to the broader Greater Toronto Area. Mimico Commons promotes active living by offering residents with easy access to Coronation Park, the Mimico waterfront and local retail shops and restaurants along Royal York Road, with High Park, CF Sherway Gardens and the future Etobicoke Civic Centre nearby. The event featured comments from James Maloney, Member of Parliament for Etobicoke-Lakeshore, and Amber Morley, Toronto City Councillor for Ward 3, Etobicoke-Lakeshore, along with Joseph Mancinelli, Chair of LPFCEC, LiUNA International Vice President and Regional Manager for Central and Eastern Canada, John-Bosco Agbasi, Managing Director, Asset Management, Fengate Real Estate, and Ernie Rinomato and TJ Rinomato, Co-Founders, Rinomato Group of Companies. As the cost of homeownership continues to climb out of reach for many Canadians, the need for rental housing has never been greater. With over 3,000 rental units currently under construction, LiUNA and Fengate are responding to meet the demand for high-quality rental communities in desirable and transit-connected locations. Mimico Commons is the first project in the Mimico GO area to break ground, demonstrating LiUNA and Fengate's ability to advance housing in a challenging development environment. "LiUNA is proud to continue investing in Toronto and delivering the housing Canadians need. With every new development, we are investing in the people and communities that make this region stronger,” said Joseph Mancinelli, Chair of LPFCEC, LiUNA International Vice President and Regional Manager for Central and Eastern Canada. "Mimico Commons will create new homes, economic activity and meaningful work for our members, while contributing to the continued evolution of Mimico as a transit-connected and community-oriented hub. We are proud to deliver another development that responds to the needs of residents today and into the future.” Once complete, Mimico Commons will offer a mix of studio, one-, two- and three-bedroom suites, along with select ground-floor units, designed for families, students, downsizers, and young professionals. Residents will have access to a full suite of amenities including a fitness centre, coworking space, party room, children's playroom, landscaped terrace, rooftop gathering space and an onsite dog run. "Advancing Mimico Commons in today’s market reflects the strength of our conviction in high-quality rental housing in well-located communities with long-term demand,” said Jaime McKenna, President, Fengate Real Estate. "Once complete, Mimico Commons will bring new rental supply to an established neighbourhood where residents will benefit from access to transit, local retail, parks and the waterfront, and it demonstrates the value of working with partners who share our vision of creating complete, connected communities.” "As a resident of Etobicoke, we take pride in helping shape the community we call home and in delivering quality rental housing here, at a time when the market needs it most," said Ernie Rinomato, Co-Founder, Rinomato Group of Companies. "Partnering with Fengate, while continuing to strengthen our long-standing relationship with LiUNA, positions us to transform this site into a thriving, transit-oriented community. Mimico Commons will generate meaningful work for construction workers and LiUNA members, creating local jobs while adding much-needed rental supply to the community." Ground-floor retail will complement the independent shops and restaurants already established along Royal York Road, completing a community where residents can meet their daily needs just steps from home. The project is targeting LEED certification, highlighting Fengate’s responsible investment approach and commitment to sustainability. Mimico Commons is expected to welcome its first residents in mid-2029. About the LiUNA Pension Fund of Central and Eastern Canada Established in 1972, the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) is one of the fastest growing multi-employer pension funds across Canada, voted top 10 pension funds by Benefits Canada. With a diverse investment portfolio and over $13 billion in assets, LPFCEC has yielded positive returns for the plan, great work opportunities for LiUNA members, and has created many needed institutions across North America through a broad range of investments. Learn more at lpfcec.org. About Fengate Asset Management Fengate is a leading alternative investment manager, with more than $40 billion of assets under management, focused on infrastructure, private equity, and real estate strategies. With offices and team members in Canada and the United States, Fengate has a proven track record of successful projects and partnerships and an established reputation as one of the most active real asset investors and developers in North America. Fengate Real Estate, a division of Fengate Asset Management, is a fully integrated real estate investment, development and asset management platform with $9.2 billion of assets under management, including a 25,000+ residential unit pipeline and 5M+ square feet of industrial space in varying stages of development. Learn more at fengate.com. About Rinomato Group of Companies Founded in 1964, the Rinomato Group of Companies (RGC) is a vertically integrated Canadian real estate development firm and one of the country's established family offices in the construction industry. Across six decades, RGC has delivered thousands of residential, commercial, industrial and mixed-use properties, holding to the standards of construction excellence that have become its signature. The firm today carries more than $4 billion in active projects, 5.7 million square feet under development and a pipeline of 14,400 residential units. Country Homes, among RGC's original ventures and a cornerstone of the RGC family, has built distinguished master-planned communities in some of Ontario's most sought-after locations, earning the H.O.M.E. Award for Best Customer Experience, Builder of Choice and Industry Ambassador of the Year from among Canada's leading homebuilders. Learn more at rinomatogroup.com. Attachments CONTACT: Matthew Ventura Fengate Asset Management +1 416-432-6194