Leon’s Plans to Build Thousands of Homes on Owned Land
Leon’s Furniture Ltd., or LFL, is stepping into the real estate market.
The home furnishings retailer has announced plans to develop a master-planned community in Toronto, which will include nearly 4,000 residential units comprised of townhouses, mid and highrise buildings, and community spaces.
LFL received rezoning approval from the Ontario provincial government in December 2023, for the 40 acres of owned land located at the crossroads of Highways 401 and 400. The City of Toronto green-lit the company’s rezoning application in July 2022.
In addition to residential housing, the project will have commercial and retail elements. This includes a new flagship retail store and corporate headquarters to replace the ones that currently occupy the site, both to be built as part of the first phase of redevelopment.
The company’s main office has been located on the land that is municipally addressed as 45 and 88‐100 Gordon Mackay Rd., and 11 and 35 Suntract Rd. since the company went public on the Toronto Stock Exchange in 1969.
“Rezoning this large parcel creates an unprecedented and historic opportunity for the City of Toronto and the company,” said LFL CEO and president Michael Walsh in a press release. “By establishing more density as part of a multi-year, multi-phase development, we will be helping to meet the overwhelming demand for additional housing within the city, while generating substantial value for LFL shareholders.”
The next step in the development process will be to create a secondary plan with city staff. LFL expects this to be complete by mid-2025.
LFL is the largest retailer of furniture, appliances and electronics in Canada. The company owns approximately 430 acres of land across the country and operates a total of 303 stores under five banners: Appliance Canada, Leon’s, The Brick, Brick Outlet and The Brick Mattress Store.