Inside a $22B plan to transform an airport — runway and 11 hangars included — into a city for 55,000 residents

Toronto’s former Downsview Airport is getting a $22 billion facelift that will turn the historic airfield into a bustling, new community for 55,000 residents.

But this isn’t your typical suburban development — this one comes with airplane hangars, a mile-long runway and enough retro charm to make it a must-see.

Forget bulldozing the past, too.

Northcrest Developments, the masterminds behind the colossal project, is betting that preserving the airport’s original infrastructure will give the neighborhood an irresistible edge.

“It’s hard to make a planned community seem authentic when everything is brand new,” Derek Goring, Northcrest’s CEO told the Wall Street Journal . “So we really decided to lean into the aerospace legacy.”

The result? The project’s first neighborhood, a 50-acre hub packed with 2,850 homes, will be anchored by those massive hangars. These structures, relics from another era, are expected to become a magnet for residents and visitors alike.

Meanwhile, the old runway will morph into a lively pedestrian promenade, complete with trendy shops, eateries, patios, schools and even a library.

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In total, the massive redevelopment will create more than 28 million square feet of residential space, 7 million square feet of commercial property and 74 acres of parks, The Journal reported.

Spanning seven distinct neighborhoods, this ambitious build-out will unfold in phases over the next 30 years, making it one of the largest real-estate ventures in Canadian history.

Northcrest is taking inspiration from high-profile projects like New York’s High Line , where an old rail line was reborn as a bustling park . Goring is confident that Downsview’s unique features will set it apart.

The hangars and runway “will make this place unlike anything else, and from a developer’s perspective, that’s like marketing 101,” Goring explained. “This is something no one else can really offer.”

But not everyone’s convinced.

Turning a derelict airport into a thriving community isn’t cheap. David Dixon, an Urban Places Fellow at Stantec, warned that repurposing old infrastructure can rack up costs quickly.

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Dixon pointed out that it only works if the result justifies the price tag. With all the hype around self-driving cars, people have even talked about converting parking garages into housing.

“These conversions will be more expensive and less competitive in the marketplace than purpose-built housing,” he told The Journal.

The airport, which opened in 1929, has a storied history. It served as an air base during World War II and later as a testing site for Bombardier before being sold in 2018 for a whopping $635 million.

While Northcrest initially considered demolishing everything, they realized that keeping the site’s history intact could be the key to its success.

“We quickly came to the conclusion that that was not a good idea,” Goring said.

Local residents were also adamant about preserving the site’s role as a hub for jobs and economic activity. The hangars, constructed between the 1950s and 1990s, are more than just relics — they’re ready for a new lease on life.

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With their massive dimensions and soaring ceilings, the spaces are tailor-made for film shoots, light manufacturing and the clean-tech industry, Goring said.

“There’s an opportunity to attract companies that actually want to be here but can’t because they can’t find these types of locations,” he noted.

The redevelopment of midcentury industrial sites is becoming increasingly popular as once-overlooked structures are now being celebrated as pieces of history.

Downsview is part of that wave, joining other projects like Berlin’s Tegel Airport, where a 5,000-home community will repurpose the existing terminal buildings for startups and university labs.

Northcrest isn’t waiting for construction to finish before putting Downsview on the map.

They’ve already hosted “Play on the Runway,” a public event that turned the tarmac into a giant playground for skating and dancing.

And more is on the way, with plans to roll out temporary sports fields and performance venues as the development progresses.

Looking at the grand plans for Downsview, Dixon mused, “It makes me wonder what we’re going to save 30 to 40 years from now. Don’t knock down all the big box stores!”

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