Fengate breaks ground on new rental tower in Mount Dennis Neighbourhood
TORONTO, Sept. 03, 2025 (GLOBE NEWSWIRE) -- Fengate Asset Management (“Fengate”) celebrated the official groundbreaking of The Dennis, a new purpose-built rental community located in the Mount Dennis neighbourhood in Toronto, and one of the first approved projects to break ground under the City of Toronto’s Purpose-built Rental Housing Incentives Stream.
The Dennis is a LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) project, built in partnership with Fengate and The Hi-Rise Group. It will deliver more than 448 new units, including 89 affordable homes and six rental replacement units. The Dennis is one of the first projects approved through the City of Toronto’s Purpose-built Rental Housing Incentives Stream, which launched last year to deliver over 7,000 new purpose-built rental homes — at least 20% of which will be affordable rental homes for 40 to 99 years. Projects selected under the program will receive City benefits, as well as federal financing to ensure construction start is reached, while also ensuring that future projects are built on a sustainable foundation of intergovernmental support.
The support from the City strengthens LiUNA’s and Fengate’s ongoing mission to provide a diverse range of housing solutions to help close Toronto’s housing gap, reinforcing the importance of government and private sector collaboration.
The groundbreaking ceremony featured comments from Joseph Mancinelli, Chair of LPFCEC, LiUNA International Vice President and Regional Manager for Central and Eastern Canada, Mayor OIivia Chow, Councillor Frances Nunziata (York South-Weston), and Jaime McKenna, President, Fengate Real Estate. The event concluded with a ceremonial groundbreaking alongside representatives of the project partners and city officials.
“On behalf of LiUNA, we are proud to partner with the City of Toronto to expand its purpose-built rental housing platform and deliver much-needed new, attainable housing to the city,” said Joseph Mancinelli, Chair of LPFCEC, LiUNA International Vice President and Regional Manager for Central and Eastern Canada. “As Toronto continues to grow and evolve, we remain committed to being a trusted partner in building its future – creating contextual, people-focused residential communities, while driving job creation, strengthening the skilled trades workforce, and fueling economic growth.”
A transit-oriented community, The Dennis is located just steps away from the new Mount Dennis LRT station and minutes from the Weston GO Transit station, offering connectivity to major transit nodes and access to both the downtown core and Greater Toronto Area. Situated between the Humber River and Black Creek River, the community is within walking distance of a vast network of parks and green spaces, offering tenants a broad range of options spanning health and wellness activities, work, school and entertainment options. In addition to natural amenities, The Dennis will also feature market leading amenities such as co-working spaces, a games room, theater, lounges and event spaces.
“The City of Toronto is taking bold steps to build more affordable homes for Torontonians. Through our incentive program that waives development charges and taxes, we’re breaking ground on 448 new homes in York South-Weston – with 20% designated affordable,” said Mayor Olivia Chow. “The Dennis is proof that our approach providing incentives, waiving fees, and speeding up approvals can help get shovels in the ground and deliver more affordable housing for Torontonians."
“This is the first project in my ward to benefit from the rental housing incentives program of the City for affordable units and I am looking forward to it being the start of more shovels in the ground,” said Councillor Frances Nunziata (York South-Weston). “There are several approved housing projects in my ward, and I hope more will be able to participate in this important accelerator program to get affordable housing in York South-Weston."
“Initiatives such as the City of Toronto’s Purpose-built Rental Housing Incentives Stream are vital to the future of residential development within our city,” said Jaime McKenna, President, Fengate Real Estate. “These initiatives allow for greater partnership with government to bring more affordable housing options for residents, removing barriers and unlocking access to the residential market for everyone.”
The Dennis is targeting LEED Gold certification and adhering to the Toronto Green Standard for sustainable building design, aligning with Fengate’s mission of sustainable urban development and community integration. Once complete, The Dennis will be a vibrant new addition to Toronto’s Mount Dennis neighbourhood, suited for tenants of all ages and occupations, including students, newcomers, young professionals, families, and retirees.
MEDIA CONTACT
Matthew Ventura
Director, Communications and Marketing, Real Estate
Fengate Asset Management
matthew.ventura@fengate.com
416-432-6194
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 $12 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 a $20 billion portfolio, including a 25,000+ residential unit pipeline and 5M+ square feet of industrial space in varying stages of development. Learn more at fengate.com.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1d6c0971-0e97-4c68-acb6-45e914ea8a67
The Dennis Groundbreaking Ceremony
Ceremonial groundbreaking for The Dennis featuring Mayor Olivia Chow, Councillor Frances Nunziata (York South-Weston), and representatives from LiUNA, Fengate Asset Management, The Hi-Rise Group, CreateTO, and ITC Construction Group.
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