Medallion has picked an executive to lead its multifamily development efforts as the company expands in that property sector.
The Toronto-based real estate development and property management company said it elevated Anna Fagyas to director of development. Fagyas previously served as development manager. In her new role, she is responsible for leading and planning zoning and entitlements for purpose-built rentals and land development across the Toronto region, including keeping projects on time and on budget, the company said.
Fagyas has over two decades of experience in the industry. Before joining Medallion in 2017, she worked at Sorbara Development Group for 14 years.
As director of development, Fagyas will play a major role in the 40-acre master-planned community Medallion is developing on Bruce Street in downtown Oshawa that is expected to bring new rental units and retail space with access to transit, including the Central Oshawa GO Station planned for 500 Howard St. as part of the Lakeshore East extension.
“We’re creating this new district and we have shovels in the ground,” Fagyas said in an interview. “We spent a lot of time on the risk assessment process to develop a brownfield site into purpose-built rentals in a master-planned community. Right now, we have approval for two towers with a connected podium, and we just got our first construction permit. We anticipate starting very shortly. It’s pioneering for this area, it’s going to shape a missing part in the city."
The master-planned, mixed-use community on Bruce Street is located across from the home arena of the Oshawa Generals of the Ontario Hockey League in downtown Oshawa. Initial plans call for the development of two towers containing 509 rental units.
“There’s going to be another potentially seven or eight buildings we’re currently going through planning approvals for and deciding what’s coming, but we anticipate there will be at least five or six more purpose-built rental towers,” Fagyas said.
The development is being designed to attract people of various ages.
“Ultimately, we anticipate there’s going to be a mix of demographics from students to young professionals to aging adults. We usually plan for a mix, but we anticipate young professionals and people who are familiar with Durham Region and have grown up in Durham will want to live in our master-planned community. There’s lots of synergy between the university and colleges that may attract a lot of students, but there’s also an emphasis on people wanting to stay in the neighbourhood they’re accustomed to.”
A new GO Station is being built nearby that residents of the development can access from a nearby trail. GO is the regional public transit service for the Greater Golden Horseshoe area that includes Toronto.
“It will be walkable, and the site is positioned to bring a new community in close to downtown Oshawa’s amenities and help shape an area that’s largely desolate right now," Fagyas said. "There aren’t many times you have an opportunity to master-plan a new community downtown, and we’re excited about moving this one forward.”