Menkes Developments and QuadReal Property Group have topped off a landmark four-tower condominium community in Vaughan, Ont.

The Festival development is located in the south Vaughan Metropolitan Centre (VMC.) The milestone marks the completion of the exterior structural framework for all four towers.

Standing at about 626 feet, Festival’s tallest tower is now the highest building in the Vaughan Metropolitan Centre, said the companies. The community, situated on 5.5 acres near Highways 7, 407, and 400, features 2,470 residential units across towers ranging from 41 to 59 storeys, 70,000 square feet of amenities, and 85,000 sf of commercial space.

A pedestrian mews and ample public open spaces further enhance the $1.5-billion development, which will ultimately house more than 5,000 residents.

The Festival project, which broke ground in early 2021, was named Canada’s best-selling condominium community in both 2020 and 2021. Its first tower began welcoming residents earlier this year, with the remaining towers set to be occupied by fall 2025.

“Festival is like no other project in the GTA – it’s an ambitious, all-encompassing community that sets a new industry standard in Vaughan,” said Jared Menkes, executive vice-president of high-rise residential at Menkes. “We worked collaboratively with the City of Vaughan’s political leaders and planning staff to develop Festival to meet the needs of residents in one of Canada’s fastest-growing cities. Festival is a testament to all that can be accomplished when we work together.”

Toby Wu, executive vice-president of development for QuadReal in Canada, called Festival a key part of the VMC’s evolution.

“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,” Wu said. “Leveraging a long-term approach to investment and development enables us to build thriving communities in markets where people want to live.

Menkes and QuadReal have been leaders in VMC development since 2019, with about 5,200 of the companies’ residential units either completed, under construction, or in presales. Their previous project, Mobilio, introduced mid-rise condominiums, townhouses, and park space to the area.

Following the success of Festival, Menkes and QuadReal have launched Bravo, a three-tower community south of Festival. Featuring 1,654 residential units, retail space, and a privately owned public park, Bravo’s first two towers are already 80% sold. Construction began in spring 2024, and the third tower, Encore, is currently selling.

Photo: CNW Group/Menkes Developments