The company that operates Markham’s Buttonville Airport has paired up with one of the continent’s largest real-estate developers for a project that will see the airport closed and a new community in its place.
Armadale, which owns Buttonville operator Toronto Airways Limited, on Tuesday announced a deal with Cadillac Fairview to build on the 170-acre site bounded by 16th Avenue, Highway 404, Renfrew Drive and Valleywood Drive.
“This site represents an excellent opportunity to create a world-class development and we look forward to working with the planning authorities on this exciting project,” Cadillac Fairview executive John Sullivan said in a press release.
Armadale president Clifford Sifton said Buttonville will close within the next five years and his company is looking for another location for the airport, possibly in Pickering.
Toronto Buttonville Municipal Airport began as a grass strip in 1953, and has grown to accommodate private, commercial and corporate aviation as well as a flight school.