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Once the site of brownfields and industrial complexes, Toronto’s Port Lands represent 356 hectares of mostly vacant land located in downtown Toronto. The City’s 50-year urban renewal plan proposes a district, road and transit layout that will result in an exciting new community with room to grow. Carlyle, in partnership with Slate Asset Management, identified this 0.99-hectare site as having significantly more potential than indicated by the in-place planning framework. After acquiring the site in December 2021, Carlyle and Slate Asset Management proposed the first privately held mixed-use development in the McCleary District; two stunning high-rises connected by a commercial podium designed by BPD Quadrangle that will serve as a new gateway to the revitalized area. Our application led the way, closely followed by several other developers, and was the first to receive City Council approval in November 2024.
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