Hamilton, ON, June 26, 2026 (GLOBE NEWSWIRE) — Today, Fengate Asset Management (“Fengate”) announced the official opening of 500 Upper Wellington, a new 260-unit purpose-built rental community in Hamilton’s Centremount neighbourhood. Located on the Hamilton Escarpment, the community offers expansive views with modern, family-oriented suites and is the first property to begin leasing under Fengate Communities which launched earlier this year.
500 Upper Wellington is a LiUNA Pension Fund of Central and Eastern Canada (“LPFCEC”) project, developed in partnership with Fengate and The Hi-Rise Group. The project reflects the partners’ shared commitment to expanding housing supply across Canada and underscores a long-standing, scalable approach to delivering high-quality, attainable rental housing solutions for Canadians.
The opening comes amid continued need for purpose-built rental housing across Hamilton and Ontario. 500 Upper Wellington has achieved strong leasing performance, achieving approximately 30 per cent lease-up within three months of occupancy, reflecting high interest from residents seeking professionally managed rental options in Hamilton.
The event featured comments from Mayor Andrea Horwath, City of Hamilton, Councillor Rob Cooper, Ward 8, City of Hamilton, Joseph Mancinelli, Chair of LPFCEC, LiUNA International Vice President and Regional Manager for Central and Eastern Canada, and John-Bosco Agbasi, Managing Director, Asset Management, Fengate Real Estate.
“LiUNA has been helping build Hamilton and communities across Canada for generations, and our investment in 500 Upper Wellington reflects that long-standing commitment,” said Joseph Mancinelli, Chair of LPFCEC, LiUNA International Vice President and Regional Manager for Central and Eastern Canada. “As demand continues to outpace supply, projects like this represent meaningful action toward increasing housing availability, creating opportunities for our members, and helping build stronger, more vibrant communities for today, and for the future. We are proud to continue investing in Hamilton, creating lasting value for the community while helping ensure the city remains a place of opportunity, growth, and prosperity for years to come.”
At 500 Upper Wellington, residents have access to a range of lifestyle amenities, including a double-height lobby, fully equipped fitness centre, resident lounge and dining space, outdoor terrace, dedicated children’s playroom, pet run and indoor pet wash station. More than 40 per cent of suites offer two- and three-bedroom layouts, creating options for a variety of household sizes and living arrangements.
500 Upper Wellington features sustainability-focused design, including geothermal technology, heat recovery systems, energy-efficient ventilation, smart in-suite metering and EV-ready parking, while its location near transit, parks, retail and healthcare services offers residents convenient access to everyday amenities and the broader Hamilton community.
“500 Upper Wellington is exactly the kind of community we are focused on delivering through our residential platform: high-quality, thoughtfully designed rental housing in well-connected neighbourhoods where people and families can build their lives,” said Jaime McKenna, President of Fengate Real Estate. “Together with LiUNA, we are responding to Canada’s housing supply challenge with communities that create enduring value for residents and our investors. Through Fengate Communities, we are bringing this vision to life through vibrant, connected and resident-focused living experiences across our growing portfolio.”
Earlier this year, Fengate launched Fengate Communities, unifying its residential properties under a single brand focused on fostering community and empowering prosperity for everyday Canadians.
To learn more about 500 Upper Wellington and Fengate Communities, please visit www.fengatecommunities.com.
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 $13 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 Communities
Fengate Communities delivers homes that raise the bar for how we live. We believe every neighbourhood has the potential to be something special. A place that feels connected, welcoming and built for progress. With thousands of homes delivered and more than 10 new communities on the way, we create places where opportunity and impact come together. We bring more than fifty years of experience shaping and managing communities that last. Our dedicated team is guided by integrity, excellence and collaboration, and a drive to empower prosperity. We design homes for how people live today and how they hope to live tomorrow. Each community brings people together and helps strengthen the places they call home.
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 $9.8 billion of assets under management, including a 25,000+ residential unit pipeline and 5M+ square feet of industrial space in varying stages of development. Learn more at fengate.com.
