Northcrest Developments (Northcrest) leads the planning and redevelopment of the 370-acre (150 hectare) Downsview Airport Lands in Toronto, an unprecedented opportunity to transform this site into a thriving mixed-use urban environment over the coming decades. 

Northcrest is a wholly owned subsidiary of the Public Sector Pension Investment Board (PSP). PSP is one of Canada’s largest pension investment managers. PSP purchased the Downsview Airport Lands from Bombardier Aerospace in 2018 and established Northcrest in the same year. 

As lead developer, Northcrest’s vision is to create a future-focused city within a city – a series of walkable neighbourhoods with housing, employment spaces, parks, shops and community facilities – and to build and operate it with the lowest carbon footprint possible while creating opportunities for as many people as possible, especially local and equity-deserving groups. The company is composed of a dynamic group of professionals with experience in a range of disciplines. 

Northcrest works closely with local communities, Indigenous Peoples, and a broad and diverse set of stakeholders to ensure that the transformation of these lands is a model for sustainable, healthy, equitable, and resilient communities, while delivering meaningful returns to its shareholder.