The former Downsview Airport in Toronto is being renovated for $22 billion. The historic airfield is to be transformed into a lively new district for 55,000 residents.

But this isn’t your typical suburban development – it has airplane hangars, a mile-long runway, and enough retro charm to make it a must-see.

Also, forget about bulldozing the past.

Northcrest Developments, the mastermind behind the gigantic project, is betting that preserving the airport’s original infrastructure will give the district an irresistible advantage.

“It’s hard to make a planned community feel authentic when everything is brand new,” Derek Goring, CEO of Northcrest, told the Wall Street Journal. “That’s why we decided to draw on the aerospace heritage.”

The result? The first quarter of the project, a 20-hectare center with 2,850 apartments, will be dominated by these huge hangars. These buildings, relics from another era, are expected to become a magnet for both residents and visitors.

Meanwhile, the old runway will be transformed into a bustling pedestrian promenade, complete with trendy shops, restaurants, terraces, schools and even a library.

In total, the massive redevelopment will create more than 28 million square meters of housing, 7 million square meters of commercial space and 74 acres of parkland, the Journal reported.

This ambitious development will span seven different neighbourhoods and will be phased in over the next 30 years, making it one of the largest real estate developments in Canadian history.

Northcrest draws inspiration from high-profile projects such as New York’s High Line, where an old railway line was transformed into a bustling park, and Goring believes Downsview’s unique features will make it stand out from the crowd.

The hangars and runway “will make this place unique, and from a developer’s perspective, that’s marketing primer,” Goring explained. “It’s something no one else can really offer.”

But not everyone is convinced.

Transforming an abandoned airport into a thriving community isn’t cheap. David Dixon, Urban Places Fellow at Stantec, warned that repurposing old infrastructure can quickly add up to high costs.

Dixon pointed out that this only works if the result justifies the price. Given the hype surrounding self-driving cars, there is even talk of converting parking garages into housing.

“These conversions will be more expensive and less competitive in the market than purpose-built housing,” he told the Journal.

Opened in 1929, the airport has a rich history. It served as an air force base during World War II and later as a testing ground for Bombardier before being sold for a whopping $635 million in 2018.

Northcrest initially considered demolishing everything, but realized that the key to success might be preserving the site’s history.

“We quickly came to the conclusion that this was not a good idea,” Goring said.

Local residents were also determined to preserve the site’s role as a hub for jobs and economic activity. Built between the 1950s and 1990s, the hangars are more than just relics – they are ready for new use.

With their massive dimensions and high ceilings, the spaces are tailor-made for filming, light manufacturing and the cleantech industry, Goring said.

“It offers an opportunity to attract companies that actually want to settle here but cannot because they cannot find the appropriate locations,” he noted.

Redevelopment of mid-century industrial sites is becoming increasingly popular as once-overlooked structures are now celebrated as pieces of history.

Downsview is part of this wave and joins other projects such as Berlin’s Tegel Airport, where a community of 5,000 households will repurpose the existing terminal buildings for start-ups and university labs.

Northcrest isn’t waiting for construction to be completed before putting Downsview on the map.

They have already hosted “Play on the Runway,” a public event that transformed the runway into a giant playground for skating and dancing.

And there is even more planned: temporary sports fields and event venues are to be created during the construction work.

Looking at the grand plans for Downsview, Dixon mused, “I wonder what we’ll save in 30 to 40 years. Don’t tear down all the big department stores!”