KingSett Capital Celebrates Opening of West Square Phase 1, Delivering 494 New Rental Homes in Toronto
(Toronto, ON) September 10, 2026 — KingSett Capital (“KingSett”) today celebrated the opening of West Square Phase 1, a purpose-built rental community that delivers 494 new homes, including 217 affordable rental units, and marks the first completed ground-up, purpose-built rental housing development for the KingSett Affordable Housing Fund.
"Our West Square development is about creating high-quality homes where residents across different income levels, household sizes and stages of life can build their lives and feel part of a community,” said Jeff Thomas, Group Head, Development at KingSett Capital. “Seeing residents begin to make West Square their home is an important milestone for everyone who contributed to the project. We are proud of what’s been accomplished through a shared commitment to housing, sustainability and the surrounding community.”
“West Square demonstrates what can be achieved when the City of Toronto, Government of Canada and the private sector work together to address Toronto’s housing needs. This project is one of 50 affordable housing projects currently under construction across Toronto that will help create over 14,000 new homes, including more than 4,200 affordable homes,” said Hugh Clark, Executive Director, Housing Development Office, City of Toronto.
Located in Toronto’s Etobicoke neighbourhood, West Square Phase 1 comprises two towers: West Square Parkview (15 Gibbs Road), an 11-storey building with 217 affordable rental units and West Square Cityview (25 Gibbs Road), a 30-storey market rental tower with 277 units. Residents will have access to a range of amenities in each building, and the development will be complemented by a new 22,000-square-foot city park that will open this fall at the southeast corner of the site, extending the community well beyond the buildings themselves.
Both buildings achieved the Canada Green Building Council's Zero Carbon Building Design (ZCB-D) Standard in 2024, and are powered by a shared geothermal system. Green roofs and 33 EV charging stations further support the project’s sustainable design.
“West Square reflects what can be achieved when the public and private sectors work together around a shared objective,” added Thomas. “We are grateful to the partners, government representatives and community stakeholders whose contributions helped bring this project to life.”
The development was supported by construction financing through the federal government’s Apartment Construction Loan Program, administered by CMHC, as well as financial incentives provided through the City of Toronto’s Rental Housing Supply Program.
“Our government is committed to working with our partners to build more homes in our community. Through the Apartment Construction Loan Program, we are taking action to increase the supply of new rental housing,” said Yvan Baker, Member of Parliament for Etobicoke Centre. “Thank you to all our partners and people behind the scenes who helped bring this project to completion, I wish the new residents great success in their new homes.”
West Square Phase 2 will build on the already established community through Phase 1, adding 641 purpose-built rental homes across two additional buildings. Designed to meet the Canada Green Building Council’s ZCB-D Standard, Phase 2 will use a fully electric, low-carbon mechanical system as KingSett continues to expand the range of housing available at West Square.
About KingSett Capital
KingSett Capital (“KingSett”) is Canada’s leading private equity real estate investment firm with over $19 billion of assets under management. Founded in 2002, KingSett creates value through a broad portfolio of custom real estate investments, financing solutions and asset classes backed by strong core values, an entrepreneurial approach and a Canada-first platform. Today, the firm has over 170 employees in Toronto, Montreal and Vancouver.
About KingSett Affordable Housing Fund
The KingSett Affordable Housing Fund invests in the creation of high-quality housing across Canada's core rental markets. The Fund seeks sustainable risk-weighted returns by scaling a portfolio of urban housing communities with a meaningful affordability component through development, financing and strategic partnerships.
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For more information, please contact:
KingSett Capital
David Ryan
FGS Longview
