Toronto-based Northcrest Developments was established in 2018 to master plan and develop the Downsview Airport lands on behalf of the Public Sector Pension Investment Board (PSP Investments). One of Canada’s largest pension investment managers, PSP Investments manages funds for the pension plans of the federal Public Service, the Canadian Armed Forces, the Royal Canadian Mounted Police, and the Reserve Force.
With a mandate to manage the planning and development of PSP Investments’ Downsview lands long-term, Northcrest is committed to delivering financial returns for its shareholder while also generating public benefits.
Northcrest will work closely with local residents and communities, as well as public, non-profit and private interests, to ensure the development of the Downsview lands become a model for how to create sustainable, resilient, vibrant, healthy communities while contributing to the neighbourhoods and city-region that surround it.
Northcrest Developments and Canada Lands Company are collaborating to plan the future of more than 500 acres at Downsview. The upcoming departure of Bombardier and consequent decommissioning of the airport provides an opportunity to re-imagine these lands and build resilient, sustainable, vibrant, healthy, and complete communities.
The collective lands include 370 acres that currently make up the Downsview Airport and hangar lands managed by Northcrest and 150 acres that comprise the Sheppard, Chesswood and Allen lands managed by Canada Lands Company. The adjacent 291-acre Downsview Park and Park Commons will be the heart of any new development and will be enhanced over time.
We’ve called the process to plan for the future “id8 Downsview” because it will allow us to “ideate” (form ideas) with community and stakeholder groups from the local area, and from across the city. To learn more, visit id8downsview.ca.