Northcrest Making Considerable Progress on YZD Project

News| February 11, 2026| Monte Stewart

Northcrest Developments is making significant early progress on its massive $30-billion redevelopment of the former Downsview Airport lands in the Greater Toronto Area, says the company.

Northcrest has released its first progress report, Responsible Development in Action (2020–2025), detailing early achievements at the property now known as YZD. The 370-acre parcel ranks as the largest urban-development project currently underway in North America, according to the company.

“This inaugural progress report shows why our work matters,” said Derek Goring, CEO of Northcrest. “It reflects the hundreds of conversations we’ve had with local communities, businesses, artists, civic leaders, our First Nation partners, and experts from Toronto and around the world.

“Their voices are shaping this work and guiding every step we take. The findings reinforce a simple truth: cities grow stronger when people help shape them. With that belief at the centre of everything we do, YZD is working to set a new standard for how Toronto grows – and how community can be built with intention, care, and ambition over time.”

Located at the geographic centre of the GTA, YZD is planned to deliver more than 30,000 housing units, accommodate approximately 66,000 residents and support 23,000 permanent jobs across several new neighbourhoods. The long-term vision includes about 70 acres of parks and open space and three subway stations, positioning the site as a major transit-oriented district to support Toronto’s future growth.

Although construction has yet to begin, the report outlines significant early progress, including unanimous Toronto city council approval of the development’s Secondary Plan and rezoning for the Hangar District, the first phase of the project.

Since 2020, YZD has welcomed nearly one million visitors and hosted more than 120 engagement events. The project has supported the hiring of more than 1,200 local and diverse residents through the Rogers Stadium job fair, reinvested $500,000 into community partnerships, scholarships and sponsorships, and invested an additional $350,000 to grow local capacity and expand social procurement opportunities. Electricity use has also been reduced by 40 per cent from baseline levels since Northcrest took possession of the lands. (Rogers Stadium is a temporary facility being use to generate revenues to maintain operations of existing building during the development process.)

Reconciliation and relationship-building remain foundational to work on the site, said the company. Northcrest continues its partnership with the Mississaugas of the Credit First Nation, supported by an Indigenous Reconciliation Action Plan that embeds Indigenous leadership, education, employment and procurement into decision-making. The partnership informs land stewardship, design, programming and governance as YZD evolves.

Early social and economic initiatives are aimed at strengthening surrounding communities through local hiring, youth pathways, cultural programming and small-business support, positioning YZD as a long-term economic engine for the region.

Environmental responsibility is embedded in both current operations and long-term planning. In addition to the 40 per cent reduction in electricity use, more than 21.5 tonnes of material from the site have been repurposed for use in the Plaza, Indigenous Hub and other installations. Planning policies call for the preservation of more than 150,000 square metres of existing buildings, the creation of more than 70 acres of parks and open space to support biodiversity and stormwater management, and the integration of low-carbon planning, green infrastructure and adaptive reuse strategies ahead of construction.

Northcrest said the project is guided by clear governance, open communication and shared decision-making to ensure alignment with community and City of Toronto priorities. YZD’s governance model is structured to integrate community input, municipal guidance and developer accountability within a coordinated framework.

Infrastructure and servicing work is expected to commence in the early part of this year, marking the transition from planning and partnership-building to visible on-site transformation while maintaining principles of responsible development, transparency and collaboration.

The YZD name draws from the forrmer call sign for the closed Downsview Airport.

Pictured: Future Hangar District at YZD.

Rendering: Courtesy of kg&a / Northcrest