Gupta Group celebrates groundbreaking of Yonge City Square

By NextHome Staff
January 16, 2025

The Gupta Group recently broke ground on Yonge City Square, one of the largest new residential projects to begin construction in 2024 in the GTA and the first new development in the Hoggs Hollow neighbourhood in more than 20 years. The event, held at the project’s site of 4050 Yonge St., marked a significant step in addressing Ontario’s housing needs, with Premier Doug Ford and The Gupta Group leadership celebrating the development.

Growth and resilience

The Gupta Group says its decision to move forward with construction ahead of schedule demonstrates its commitment to delivering 700 new homes to the city. Dr. Steve Gupta, founder and chairman of The Gupta Group, reflected on the broader impact of the project, saying, “Today’s groundbreaking represents not only the beginning of Yonge City Square, but also a testament to Toronto’s growth and resilience. This development will transform the Hoggs Hollow neighbourhood and inject vitality into the local economy.”

Yonge City Square will feature two highrises at 32 and 14 storeys, boasting more than 700 suites, ground-level retail, commercial space and 36,000 sq. ft. of resort-inspired amenities. Backing onto the Don Valley Golf Course, the development is directly connected to the York Mills subway station, offering residents unparalleled convenience and connectivity. Amenities include an expansive ninth-floor terrace, a fitness centre with state-of-the-art facilities, entertainment lounges with golf simulators, an outdoor mini-put golf course and a luxurious outdoor pool.

World-class city

For every unit sold, The Gupta Group will donate $1,000 to the Princess Margaret Cancer Foundation, with a commitment to top off the donation at $1 million upon the final closing of all units. “This is more than just a project for us,” says Reetu Gupta, CEO of The Gupta Family Foundation and Ambassadress of The Gupta Group. “It’s a way to give back to the community while building for the future.”

“Yonge City Square is a reflection of our belief in Toronto’s potential as a world-class city,” adds Dr. Steve Gupta. “It’s about creating homes, opportunities and communities that elevate the way people live and connect. We are proud to play a role in shaping the future of our city and the province of Ontario.”

Occupancy for Yonge City Square is expected in spring 2028, marking the beginning of a new chapter for Hoggs Hollow.

yongecitysquare.com

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