(MENAFN- GlobeNewsWire - Nasdaq) OAKVILLE, Ontario, Nov. 05, 2025 (GLOBE NEWSWIRE) -- Fengate Asset Management (“Fengate”) celebrated the official groundbreaking of a new seniors' community located at 1105 McCraney Street East (McCraney) in the heart of Oakville, one of Canada's most desirable and high-growth communities for retirement living.

McCraney is a LiUNA Pension Fund of Central and Eastern Canad (LPFCEC) project, developed in partnership with Fengate, Seasons Retirement Communities (Seasons), and The Hi-Rise Group. The project represents the first GTA-based development in the growing Seasons portfolio, which currently includes 15 retirement residences in Ontario, eight residences in Alberta, and two in British Columbia, with more currently under development.

The six-storey, 221-unit residence will offer Independent Supportive Living (ISL) and Memory Care (MC) suites, providing a full continuum of care under one roof. This“aging-in-place” model reflects Fengate's ongoing commitment to investing in and developing a broad range of accessible and high-quality housing solutions for Canadians.

The groundbreaking ceremony featured remarks from Victoria Mancinelli, Director, Public Relations, Marketing and Strategic Partnerships, LPFCEC, Mayor Rob Burton from the Town of Oakville, and Michael Lavallée, Chief Executive Officer, Seasons Retirement Communities. The ceremony concluded with an official groundbreaking attended by project partner representatives and officials from the Town of Oakville.

“On behalf of LiUNA, we are thrilled to break ground on another project that advances our mission to provide Canadians with housing that supports them at every stage of their lives,” said Joseph Mancinelli, Chair of LPFCEC, LiUNA International Vice President and Regional Manager for Central and Eastern Canada.“With every new development, we are building a resilient residential market, creating good jobs for union members, and affecting positive change in the lives of the vital and growing senior community in our country.”

Located in Northeast Oakville with access to a network of parks and recreational trails, the site benefits from strong local demographics with a growing senior population that is expected to increase by about five per cent annually over the next decade, exceeding the national growth rate.

“Canada's aging population is growing rapidly, and the demand for senior housing is outpacing supply,” said Jaime McKenna, President, Fengate Real Estate.“At Fengate, we see this as both a responsibility and an opportunity. We are committed to building communities that elevate the standard of living for seniors across the country. Through future-ready developments like McCraney, we're helping close the gap and creating spaces where aging Canadians can thrive with dignity, connection, and care.”

The approximately 200,000 square-foot development will include large suite sizes with a mix of studio, one-bedroom, and two-bedroom units. The design aims to elevate the senior residential experience, incorporating spacious apartment-style layouts, ground-floor amenities, and vibrant communal spaces to foster engagement and connection.

“We're proud to bring this new community to life in Oakville,” said Michael Lavallée, Chief Executive Officer, Seasons Retirement Communities.“At Seasons, care is at the heart of everything we do. Through this partnership, we're combining Fengate's development vision with our deep expertise in personalized care within a state-of-the-art facility. With every new community we add to the Seasons portfolio, our mission is to create safe, engaging environments where residents feel truly at home.”

The project is targeting LEED Silver certification and incorporates geothermal energy and future-proof building systems, highlighting Fengate's responsible investment and commitment to sustainability. The development is expected to welcome its first residents home in 2028, supporting Seasons' growth plan to deliver 1,500 new retirement suites across its portfolio.

MEDIA CONTACT
Matthew Ventura
Director, Communications and Marketing, Real Estate
Fengate Asset Management
...
416-432-6194

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, created great work opportunities for LiUNA members, and supported the development of many needed institutions across North America through a broad range of investments. Learn more at lpfcec.

About Fengate Asset Management
Fengate is a leading alternative investment manager, with more than $40 billion of assets under management, focused on infrastructure, private equity, and real estate strategies. With offices and team members in Canada and the United States, 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 $20 billion portfolio, including a 25,000+ residential unit pipeline and 5M+ square feet of industrial space in varying stages of development. Learn more at.

About Seasons Retirement Communities

Established in 2009, Seasons is a Canadian company that operates 15 retirement residences in Ontario, eight residences in Alberta, and two in British Columbia, with more under development. Our management team has extensive experience in the senior housing sector and has developed a culture dedicated to providing residents with superior customer service. At Seasons, we want our residents to feel proud to call us home and to know they are surrounded by people who genuinely care. Connect. Care. Change^®. Learn more at.

Photos accompanying this announcement are available at

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