Medallion Breaks Ground On Transformative $188 Million Redevelopment Project In Downtown Oshawa

Published On: October 14, 2026|Categories: Real Estate|

Medallion broke ground this month on the Foundry District, a new master-planned mixed-use rental development rising on a 23-acre former industrial site in downtown Oshawa.

The first phase of the planned nine-building redevelopment of the former Fittings factory will consist of two multifamily buildings, a 10-storey building at 119 and a 23-storey tower at 500 Bruce Street, that will include more than five hundred residences, 30% of which will be designated as affordable homes. The remaining rental apartments will be rent-geared-to-income.

Medallion, one of the largest developers of purpose-built rental housing in the GTA and Southern Ontario, said the groundbreaking is one of the largest revitalization projects in Durham Region’s history.

Medallion has started construstion on the first two multifamily buildings in the Foundry District, a 10-storey building at 119 and a 23-storey tower at 500 Bruce Street, that will include more than five hundred residences. (Medallion)

The project is being advanced through collaboration between Medallion and government partners, with $188 million in funding through CMHC’s Apartment Construction Loan Program, the Region of Durham’s Regional Revitalization Program and a grant agreement with the City of Oshawa.

Anna Fagyas, director of development for Medallion Corp. cited the developer’s deep track record in Ontario and the success of its Vision at Pat Bayly Square project, which has helped transform downtown Ajax, calling the Foundry District its next chapter in Durham.

Situated on the site of the former Fittings factory, which shut down in 1987, the site at the edge of downtown Oshawa is being revitalised after nearly four decades. Medallion ultimately plans to construct 3,000 rental homes across nine buildings planned in the redevelopment. The project will ultimately include restaurants, retail spaces, and a sizable public park where the cast-iron works once stood.

“For decades, this land was a reminder of what Oshawa used to be. Today it becomes the foundation of what we are becoming — a growing downtown where thousands of people will live, work and gather, with new community amenities and a beautiful park at the heart of their community,” said City of Oshawa Mayor Dan Carter, in a statement announcing the start of construction.

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