The Gupta Group has commenced construction on Yonge City Square, the first new multi-residential project in Toronto’s Hoggs Hollow neighbourhood in more than two decades.

Gupta hosted a groundbreaking ceremony at condominium project site at 4050 Yonge Street to celebrate the milestone. The company said Yonge City Square is also the city’s largest residential project to begin construction in 2024.

The project will bring about 700 new homes to Toronto, addressing the city’s housing needs, said the company.

“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, the company’s founder and chairman. “This development will transform the Hoggs Hollow neighbourhood and inject vitality into the local economy.”

Yonge City Square will feature two modern high-rise towers standing at 32 and 14 storeys. Backing onto the Don Valley Golf Course, the development will include ground-level retail, other commercial space, and 36,000 sf of resort-style amenities.

Residents will enjoy a ninth-floor terrace, a fitness centre, entertainment lounges with golf simulators, an outdoor mini-putt golf course, and a luxurious outdoor pool. The property will have direct access to the York Mills subway station.

Reetu Gupta, CEO of the Gupta Family Foundation and ambassadress of the Markham, Ont.-based Gupta Group, highlighted the project’s philanthropic initiative during the ceremony. For every unit sold, company will donate $1,000 to the Princess Margaret Cancer Foundation, with a goal of reaching $1 million by the time all units are sold.

“This is more than just a project for us—it’s a way to give back to the community while building for the future,” said Reetu Gupta.

The Gupta Group’s investment in Yonge City Square reflects its confidence in Toronto’s potential as a global city, said the company.

“Yonge City Square is a reflection of our belief in Toronto’s potential as a world-class city,” said Steve Gupta. “It’s about creating homes, opportunities, and communities that elevate the way people live and connect. We are proud to play a role in shaping the future of our city and the province of Ontario.”

Occupancy is slated for spring 2028.

Photo: CNW Group/the Gupta Group