HAMILTON, Ontario, May 29, 2024 (GLOBE NEWSWIRE) -- The Labourers’ International Union of North America (LiUNA) recently marked the opening of The King William, the newest purpose-built rental towers in downtown Hamilton. Located on the corner of King Street East and Hughson Street North, The King William is a pair of 30-storey rental towers rising from a 4-storey podium with 12,000 square feet of retail space at grade. The buildings add 581 new rental homes to the growing Hamilton community and the project is part of LiUNA’s ongoing effort to foster growth and development in the city. The LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) is the lead investor in The King William, which was built in partnership with Fengate Asset Management (“Fengate”) and The Hi-Rise Group (“Hi-Rise”).
The partnership hosted a building tour and ribbon-cutting ceremony on Tuesday, May 28, with remarks led by Joseph Mancinelli, Chair, LiUNA Pension Fund of Central and Eastern Canada, and Jaime McKenna, President, Fengate Real Estate. The event was attended by LPFCEC trustees, the project partners, and representatives of the local government and business community.
“LiUNA’s commitment to building strong and prosperous communities goes beyond words, our work throughout the City of Hamilton continues to deliver in-demand real assets to meet the needs of the city’s growing population and drive economic activity,” said Joseph Mancinelli, Chair, LiUNA Pension Fund of Central and Eastern Canada. “With its completion, The King William joins the extensive list of LiUNA investments in Hamilton – which include The William Thomas, 75 James, and 500 Upper Wellington – that continue to advance the growth of the city. With over 1,000 unionized workers and 1.6 million labour hours, it is their skill, perseverance and collaboration of our partners that paved the way forward for this milestone. Welcome to LiUNA’s King William!””
“The King William marks another milestone for the partnership between LiUNA, Fengate, and Hi-Rise, one that exemplifies our shared understanding and collective focus to build vibrant and connected communities,” said Jaime McKenna, President, Fengate Real Estate. “We look forward to continuing our collaboration and development of much-needed housing supply in Hamilton and across the Greater Toronto Area.”
Guests of the ribbon-cutting event were given a preview of the elevated rental offering at The King William, where residents can stay and relax within their contemporary suites and enjoy the wide range of building amenities. The 40,000-square-foot amenity area spans across three floors and features dedicated spaces for fitness, wellness, recreation, and socializing. Residents will have access to workout facilities, spin studio, yoga and stretch area, meditation room, video and gaming hub, screening rooms, outdoor rooftop pool and terrace, private dining rooms, and much more. The highly connected location of the buildings also provides convenient access to transit, parks, schools, and Hamilton’s vibrant arts, dining, and entertainment scene. With the purpose-built rental buildings now officially complete, The King William is set to welcome its first residents this June.
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 160,000 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 the 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.
About Fengate Asset Management
Fengate is a leading alternative investment manager, with more than $35 billion of assets under management, focused on infrastructure, private equity, and real estate strategies. With offices in Ontario and Texas, Fengate has a proven track record of successful projects and partnerships, and an established reputation as one of the most active real asset investors and developers in North America. Fengate Real Estate, a division of Fengate Asset Management, is a fully integrated real estate investment, development and asset management platform with a $15B+ portfolio, including a 25,000+ residential unit pipeline and 5M+ square feet of industrial space in varying stages of development. Learn more at fengate.com.
Media inquiries:
Jennevieve Virata
Director, Marketing and Communications, Real Estate
Fengate Asset Management
jennevieve.virata@fengate.com | +1 905 466 7527
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/c5f51f97-496f-465f-99bc-e11edcbb1ef6
https://www.globenewswire.com/NewsRoom/AttachmentNg/f94841b8-c00f-44ea-8c15-3d49c0f73f08
