Buttonville airport site in Markham to become 11-building industrial park, work begins 2027
The 169-acre site north of Toronto will transition from decades-long closure to a three-million-square-foot complex with warehouses ranging from 42,000 to 836,000 sq. ft.
The day's top stories, food & events — every morning at 7. Unsubscribe anytime.
The Buttonville Municipal Airport site along Highway 404 just north of Toronto will finally begin its long-awaited redevelopment next year after sitting idle since its closure at the end of 2023.
Developer Cadillac Fairview, which bought out the remaining 50 per cent stake in the 169-acre property for just under $193 million in 2021, is now preparing to move forward with the Buttonville Industrial Park — a three-million-square-foot complex across 11 buildings.
The buildings will range in size from 42,000 to 836,000 square feet, designed to accommodate a variety of tenants. Site servicing and infrastructure construction will precede building work, with preliminary work set to start in 2027. Cadillac Fairview anticipates the first phase of building construction will take place in 2028, with actual occupancies expected as early as 2029.
The pivot from the original plan tells a story of market timing. When the airport closed, Buttonville was originally destined for redevelopment as a sprawling residential community with condo towers. But with the condo market already in decline by the time of the closure, the developer shifted to an industrial-focused redevelopment instead — a much less flashy but more pragmatic approach given market conditions.
What is the local community's response to the industrial redevelopment plan versus the original residential proposal?
Who owns the remaining stake in the property if Cadillac Fairview bought 50 per cent in 2021?
We'll update this story as answers emerge.
At a glance
Where is Buttonville Industrial Park being built?
The Buttonville Industrial Park will be built on the 169-acre Buttonville Municipal Airport site in Markham along Highway 404, just north of Toronto.
When will construction work begin?
Preliminary site servicing and infrastructure construction will start in 2027, with the first phase of building construction anticipated to begin in 2028.
What will the industrial park include?
Buttonville Industrial Park will comprise 11 buildings totaling three million square feet, with individual warehouses ranging from 42,000 to 836,000 square feet designed to accommodate various tenants.
When are the first occupancies expected?
Cadillac Fairview expects the first occupancies at Buttonville Industrial Park as early as 2029.
