HAMILTON, Ontario, June 15, 2023 (GLOBE NEWSWIRE) -- The Labourers’ International Union of North America (LiUNA) recently celebrated the groundbreaking for a new purpose-built rental development at 500 Upper Wellington Street in Hamilton, Ontario.
In line with LiUNA’s community-building efforts throughout Canada, the United States, and around the world, this rental development is part of LiUNA’s ongoing work to drive the revitalization of Hamilton. The LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) is the lead investor in 500 Upper Wellington Street, which is being built in partnership with Fengate Asset Management and Ingenuity.
The groundbreaking ceremony last month featured remarks from Joseph Mancinelli, Chair, LiUNA Pension Fund of Central and Eastern Canada; Andrew Konev, Senior Vice President, Development, Fengate Asset Management; and Mario Viti, Chief Executive Officer, Ingenuity. The opening remarks were followed by a ceremonial groundbreaking featuring Mr. Mancinelli, LPFCEC trustees and executives, and representatives of the project partners.
“LiUNA has an extensive footprint in the city of Hamilton and we are proud to continue this momentum and ensure reliable and affordable housing supply extends beyond concept and into reality,” said Joseph Mancinelli, Chair, LiUNA Pension Fund of Central and Eastern Canada. “Together with LiUNA investments at 75 James Street, King William Residences, 20 Rebecca Street, among many others, 500 Upper Wellington will have a positive impact on our community as we work proactively and collaboratively to meet the future growth of our city. This purpose-built development will deliver in-demand housing supply to meet the diverse and evolving demands of our communities while moving our economy and city forward.”
The development at 500 Upper Wellington Street will deliver a six-storey, new generation, purpose-built rental building with 261 suites and over 6,000 square feet of commercial space. Future residents will benefit from the site’s convenient access to downtown Hamilton and the host of onsite amenities planned for the development. The building will be pursuing LEED designation and is slated to include sustainability-focused features such as a green roof, geothermal heating and cooling, and energy-efficient building systems. Plans also include integrated technology features that will enable residents to manage their homes and access building services remotely. The construction of 500 Upper Wellington Street is expected to be completed in 2026.
About the Labourers’ International Union of North America
Half a million members strong across North America, LiUNA – the Labourers’ International Union of North America – is a powerhouse of highly-skilled men and women who proudly build stronger communities across various sectors, predominately in construction. Representing over 140,000 men and women in Canada, LiUNA continues to be a leading advocate for workplace health and safety. United through collective bargaining agreements, LiUNA members earn competing wages, good benefits and the opportunity for advancement and better futures. From roads to bridges, tunnels to high-rise, building essential transit and healthcare infrastructure, the highly skilled, diverse members of LiUNA build stronger, prosperous communities from the ground up and are essential to our country’s economic development and advancement. Learn more at liuna.ca.
About LiUNA Pension Fund of Central and Eastern Canada
Established in 1972, the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) is one of the fastest growing multi-employer pension funds across Canada, voted top 10 pension funds by Benefits Canada. With a diverse investment portfolio and over $12 billion in assets, LPFCEC has yielded positive returns for the plan, great work opportunities for LiUNA members, and has created many needed institutions across North America through a broad range of investments. Learn more at lpfcec.org.
Media Inquiries:
Victoria Mancinelli
Director, Public Relations, Marketing and Strategic Partnerships
LiUNA
vmancinelli@liunaopdc.org
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/2a096051-dad0-47ad-9b4c-4cdbf38430d7
https://www.globenewswire.com/NewsRoom/AttachmentNg/25cd0dab-2fc9-474f-bec0-4458b9f499c1
