Fengate breaks ground on The Forty-Eight, a new rental community in Hamilton

HAMILTON, Ontario, Oct. 29, 2025 (GLOBE NEWSWIRE) -- Today, Fengate Asset Management (“Fengate”) celebrated the official groundbreaking of The Forty-Eight, a new rental community located at 48 Ferguson Avenue South in Hamilton’s historic Corktown neighbourhood.

The Forty-Eight is a LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) project, developed in partnership with Fengate and The Hi-Rise Group. The 29-storey tower will deliver 417 new homes to downtown Hamilton, supporting the city’s active revitalization and growth. Strategically located within walking distance of the Hamilton GO Centre and two future Light Rail Transit (LRT) stops, the project offers residents exceptional connectivity to both local and regional rapid transit.

With a shared legacy in Hamilton, LiUNA and Fengate are taking action to deliver thoughtfully designed, high-quality communities that meet the evolving needs of residents across the region. The Forty-Eight combines modern comfort with accessible amenities in a community-oriented neighbourhood for young professionals, families and those looking to downsize.

The groundbreaking ceremony featured remarks from Joseph Mancinelli, Chair of LPFCEC, LiUNA International Vice President and Regional Manager for Central and Eastern Canada, and Jaime McKenna, President, Fengate Real Estate. The ceremony concluded with an official groundbreaking, attended by project partner representatives.

“At LiUNA, we are committed to building up Hamilton as a city defined by strength, resilience, and opportunity, and a community rooted in history and full of promise,” said Joseph Mancinelli, Chair of LPFCEC, LiUNA International Vice President and Regional Manager for Central and Eastern Canada. “This project reflects our enduring mission to deliver vibrant, people-focused communities where people can live, work, and thrive both in Hamilton and across Canada.”

Hamilton has undergone significant revitalization in recent years, including more than $3.4 billion in government funding for the new LRT and a wave of new development across the downtown core. The city is one of Ontario’s fastest-growing large cities, with population growth surpassing the GTA average.

“Hamilton will always hold a special place in our hearts as our first development market. Together with LiUNA, we are proud to continue investing in the city’s revitalization, where our roots run deep,” said Jaime McKenna, President, Fengate Real Estate. “The Forty-Eight will build on that foundation. Combining exceptional design, robust amenities, and a transit-connected location, the project exemplifies a community-focused vision that has made Hamilton such a dynamic market for growth.”

Once complete, The Forty-Eight will provide modern, accessible homes designed for a broad range of households. Residents will also benefit from market-leading amenities and proximity to downtown shops, services, and green spaces.

The Forty-Eight is currently under construction, with occupancy planned for 2028.

MEDIA CONTACT
Matthew Ventura
Director, Communications and Marketing, Real Estate
Fengate Asset Management
matthew.ventura@fengate.com
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, 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 $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 fengate.com.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/495589d9-45ee-4b25-91d9-71326ec90961

https://www.globenewswire.com/NewsRoom/AttachmentNg/3119b4bf-6a24-4c15-b9d9-2f7b6026382f

The Forty-Eight Groundbreaking Ceremony

Image of representatives from LiUNA, Fengate, Hi-Rise Group, and SG Constructors breaking ground at The Forty-Eight, a new rental community in Hamilton.

The Forty-Eight, a new rental community in Hamilton

Project rendering of The Forty-Eight, a LiUNA Pension Fund of Central and Eastern Canada project developed in partnership with Fengate and The Hi-Rise Group.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.