The forthcoming multi-billion dollar development at Toronto's former Downsview Airport has officially caught the attention of our neighbours to the south. 

This week, The Wall Street Journal released an article titled "The $22 Billion Plan to Turn a Defunct Airport Into a Small City," which discusses Northcrest Developments' efforts to preserve the historic airport's main features through the construction of a mixed-use urban community. 

Over the coming decades, the developer aims to transform the undeveloped lands in and around the now-shuttered airport into a series of vibrant neighbourhoods, all connected by a two-kilometre pedestrian street (originally the airport's runway). 

The article notes that Northcrest and its partners will create more than 28 million square feet of residential space, seven million square feet of commercial property, and 74 acres of parks and open spaces. 

The publication spoke with Derek Goring (CEO of Northcrest), who cited other high-profile developments that repurposed industrial infrastructure — such as the High Line in New York City — as inspiration for the development. 

A planned community for 55,000 residents in Toronto will include the usual playgrounds, bike paths and shops. It will also feature 11 airplane hangars and a mile of airport runway. The $22 billion development will be located at the old Downsview Airport. https://t.co/0tbRRop6RZ

— Bob Confer (@bobconfer) August 16, 2024

One main element highlighted in the article is the development's Hangar District, which is set to celebrate the site's aviation and manufacturing history by repurposing the existing hangar buildings with greenscaping that will "preserve natural resources and provide direct access to existing transit stations." 

Goring also told the Wall Street Journal that the hangars have some practical uses today, with their structures making them ideal for film production, light manufacturing, and clean tech — spaces that are considerably difficult to find in Toronto.

The first phase of the Hangar District will provide 2,850 homes, with over 40 per cent having at least two bedrooms, and create 7,000 jobs. 

Overall, the development is projected to create over 41,5000 jobs and attract approximately 83,500 residents. 

The development is expected to take roughly 30 years to complete and will eventually sprawl across seven neighbourhoods, making it one of the country's biggest real estate projects.