Published 29 September 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
Festival is a four-tower condominium community by Menkes and QuadReal in South VMC, at Highway 7 and Jane Street in Vaughan. Crane & Hoist Canada reported 2,470 units in towers of 41 to 59 storeys, with the first tower occupied in 2024 and residents moving into all towers through fall 2025; Menkes lists 70,000 square feet of indoor and outdoor amenities. The CTBUH database lists the towers on Commerce Street and Interchange Way. TRREB publishes no building prices; across Vaughan in August 2026, condo apartments sold at a median of $525,000 and an average of $607,650, at 96 percent of list price, with about 6.8 months of supply. Many first owners may sell at once, so price against the other Festival towers.
Festival at a glance
| Tower | Street (CTBUH) | Floors | Units | Completed (CTBUH) |
|---|---|---|---|---|
| Tower A | Commerce Street | 59 | 653 | 2025 |
| Tower B | Commerce Street | 48 | 672 | 2024 |
| Tower C | Interchange Way | 55 | 612 | 2024 |
| Tower D | Interchange Way | 41 | 533 | 2024 |
| Total | — | 41 to 59 | 2,470 | — |
- Developers: Menkes Developments and QuadReal (Menkes; CTBUH).
- Architect: Arcadis | IBI Group (CTBUH).
- Site: 5.5 acres, with 85,000 square feet of commercial space; ground broken in early 2021 (Crane & Hoist Canada, 2 January 2025).
- Amenities: over 70,000 square feet indoor and outdoor (Menkes).
- Condominium corporation no.: not verified here; each tower’s status certificate shows it.
Source notes: the four CTBUH tower entries add up to 2,470 units, matching the figure Crane & Hoist Canada reported when the project topped off. CTBUH gives street names, not street numbers, and I have not verified each tower’s municipal number from a primary source; your unit’s legal address is on title. Grand Festival is the name Menkes uses for the second phase.
Where it sits and what is nearby
Festival is in South VMC, part of what the City of Vaughan calls QuadReal’s 80-acre master-planned South VMC community. Menkes places it at Highway 7 and Jane Street and describes an open-air promenade with retail and restaurants running through the site.
- Subway. Menkes says Festival is steps from Vaughan Metropolitan Centre Station, with Union Station about 45 minutes away and York University about 10 minutes. The TTC opened the station on 17 December 2017.
- Buses and GO. Menkes lists VIVA, YRT, Zum and GO Transit connections at the VMC.
- Amenities. Menkes lists a pool, a fitness centre with a spin room, a rooftop terrace with an outdoor theatre, a music room, an artist’s studio, a chef’s kitchen, two party rooms, a pet spa and a screening room, linked by a high-line walkway to the rooftop terrace.
- What comes next. Crane & Hoist Canada reported that Bravo, a three-tower, 1,654-unit sister project, is planned directly south. That is more supply on the doorstep.
North of Highway 7, Transit City 4 & 5 and CG Tower are the other newest towers. My Vaughan Metropolitan Centre condo buildings guide compares all six.
What TRREB’s August 2026 numbers say (Vaughan, not Festival)
TRREB does not publish prices for single buildings, and it does not report the Vaughan Metropolitan Centre as its own area. The closest official numbers are for the City of Vaughan as a whole, one municipality inside York Region. Treat them as the market your unit competes in, not as a price for Festival.
| Condo apartments, August 2026 | Vaughan | York Region | Markham | Richmond Hill | City of Toronto | All TRREB |
|---|---|---|---|---|---|---|
| Sales | 63 | 170 | 57 | 33 | 885 | 1,330 |
| Average price | $607,650 | $601,251 | $638,332 | $538,509 | $651,648 | $617,593 |
| Median price | $525,000 | $538,500 | $563,800 | $500,000 | $550,000 | $530,000 |
| New listings | 193 | 507 | 181 | 94 | 2,303 | 3,579 |
| Active listings | 431 | 1,098 | 356 | 197 | 4,938 | 7,882 |
| Months of inventory (calculated) | 6.8 | 6.5 | 6.2 | 6.0 | 5.6 | 5.9 |
| Sales to new listings (calculated) | 33% | 34% | 31% | 35% | 38% | 37% |
| Sale to list price | 96% | 97% | 97% | 95% | 96% | 96% |
| Avg. days on market | 41 | 44 | 40 | 47 | 39 | 41 |
Source: TRREB Market Watch, August 2026, condominium apartments. The calculated rows are my arithmetic: active listings divided by sales, and sales divided by new listings. These figures cover every condo apartment in the City of Vaughan, not one building and not only the VMC. One month of data is a snapshot, not a trend.
Festival alone added 2,470 units to the VMC in roughly a year and a half. Vaughan’s whole condo market recorded 63 sales in August 2026 and had 431 active listings. You do not need to know how many Festival owners are listing today to see the point: in a new building this size, your competition is often the suite with the same layout a few floors above or below yours. The city-wide sale-to-list ratio of 96 percent means well-priced suites still sell close to asking.
What moves a unit’s value in a community like this
- Which tower. The towers range from 41 to 59 floors. A high floor in Tower A is a different product from a middle floor in Tower D, even with the same floor plan.
- Outlook. Views over the promenade, toward the downtown skyline, or into a sister tower. See how floor, view and parking change a condo’s value.
- Layout. Menkes offers everything from studios to larger multi-bedroom plans. The more common the layout, the more direct competition it has; a scarcer larger suite has fewer rivals.
- Parking and locker. Next to a subway some buyers skip parking, but families and commuters to the 400-series highways still want it.
- Tenancy. If you leased your suite on completion, it will sell mainly to investors. A vacant unit reaches a wider buyer pool. See how much less a tenanted condo is worth.
- Fees and amenities. A 70,000-square-foot amenity package has to be staffed, cleaned and maintained. Compare fees per square foot across the four towers.
What to check in the status certificate and reserve fund study
Every resale condo in Ontario comes with the right to a status certificate. Under section 76 of the Condominium Act, the corporation must deliver it within 10 days of a request, and the fee is capped at $100, according to the Condominium Authority of Ontario. The corporation must also have a reserve fund study done at least every three years. These two documents tell a buyer more about the building than any listing.
- The common expense fee for the unit, and whether any increase has been announced for the coming budget year.
- The reserve fund balance and whether the corporation is following the funding plan from its latest study.
- Special assessments, levied or planned. A special assessment that is already decided usually stays with the seller unless the offer says otherwise; check the wording with your lawyer.
- Legal actions the corporation is part of, and any known deficiencies.
- Rules and by-laws on short-term rentals, pets, move-in bookings and renovations.
- The exact parking and locker units that go with the suite, and whether they are owned or exclusive-use common elements.
Festival’s towers were completed between 2024 and 2025, so these corporations are very young. Confirm which tower and which corporation your unit belongs to, whether the first reserve fund study is done, and how the large shared amenities and commercial spaces are costed between the towers. A shared-facilities agreement, if there is one, is worth reading with your lawyer.
Have your lawyer read the certificate before your condition date. I read the budget and the reserve fund pages myself because that is where surprises hide.
Selling or buying here: how to price a unit
- Resales of the same layout in the same tower, then in the other three Festival towers, adjusted for floor and outlook.
- Active listings of the same layout across all four towers. With 2,470 units, there may be several.
- Resales in Transit City 4 & 5 and CG Tower at the same size, adjusted for amenities and location.
- Adjustments for parking, locker, balcony, tenancy and any upgrades.
If your layout has not resold yet, read how to price a condo when nothing in your building has sold. If you are weighing selling against renting, see should I sell or rent out my condo, and for the wider Vaughan picture, how much a condo is worth in Vaughan.
Two tools help here: the AI condo value estimator below gives you a range in about a minute, and the net proceeds calculator turns any price into what actually lands in your account.
Where I fit
I work with condo buyers and sellers across Toronto and the whole GTA, including Vaughan, and I price a unit in Festival from the sales and listings that actually compete with it. When you have your estimator range, book a call or phone 833-330-1925 and we can go through it together.
Free tool — AI condo value estimator
Condo Valuation
What’s your condo
worth today?
Three quick steps. Condos don’t price like houses — your floor, your view, and whether you own parking move the number more than anything else. This weighs all of them.
Reading recent condo sales…
Estimated market value
—
$0–$0
Most likely $0 · about $0 per square foot
What moved the number
Starting from what comparable units in your area sell for, here’s what your specifics added or subtracted.
Market context
—
—
Two units, same floor plan,
$90,000 apart.
That happens constantly in condos — one has the parking, the right exposure, or a board that keeps the reserve fund healthy. A model can’t see your status certificate. I can.
Frequently asked questions
How many units are in Festival condos Vaughan?
Crane & Hoist Canada reported 2,470 units across four towers. The CTBUH database lists 653, 672, 612 and 533 apartments in Towers A to D, which adds up to the same total.
How tall are the Festival condo towers?
The towers range from 41 to 59 storeys. CTBUH lists Tower A at 59 floors and 187.6 metres, Tower C at 55 floors, Tower B at 48 and Tower D at 41.
When was Festival condos completed?
Crane & Hoist Canada reported that the first tower opened for occupancy in 2024 and residents would move into all towers through fall 2025. CTBUH dates Towers B, C and D to 2024 and Tower A to 2025.
Who built Festival condos in Vaughan?
Festival was developed by Menkes Developments and QuadReal. CTBUH lists Arcadis | IBI Group as architect.
What amenities does Festival have?
Menkes lists more than 70,000 square feet of indoor and outdoor amenities, including a pool, fitness centre, rooftop terrace with an outdoor theatre, artist’s studio, chef’s kitchen, pet spa and screening room.
Where is Festival condos located?
Festival is in South VMC at Highway 7 and Jane Street, steps from Vaughan Metropolitan Centre subway station. CTBUH lists the towers on Commerce Street and Interchange Way.
Sources
- Menkes — Festival Condos, Vaughan — four towers, 70,000 sq ft of amenities
- Crane & Hoist Canada — Menkes, QuadReal complete four-tower condo project in Vaughan (2 January 2025) — 2,470 units, 41 to 59 storeys
- CTBUH Skyscraper Center — Festival Tower A — 59 floors, 653 apartments
- CTBUH Skyscraper Center — Festival Tower B — 48 floors, 672 apartments
- CTBUH Skyscraper Center — Festival Tower C — 55 floors, 612 apartments
- CTBUH Skyscraper Center — Festival Tower D — 41 floors, 533 apartments
- City of Vaughan — Festival by Menkes and QuadReal — 80-acre South VMC community
- TTC — TTC officially opens Line 1 Extension — opened to the public 17 December 2017
- TRREB — Market Watch, August 2026 — condominium apartment tables by region and municipality
- Condominium Authority of Ontario — Status certificates — 10 days, up to $100, Condominium Act s. 76
- Condominium Authority of Ontario — Reserve funds and reserve fund studies — studies at least every three years
- Condominium Authority of Ontario — Special assessments
Related reading
- Vaughan Metropolitan Centre condo buildings guide
- Transit City 4 & 5: guide
- CG Tower, Vaughan: guide
- Transit City 1 & 2: guide
- How much is my condo worth in Vaughan?
- How to price a condo when nothing in your building has sold
- Should I sell or rent out my condo?
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Toronto. I work with buyers and sellers across Toronto and the GTA and have helped more than 100 families sell. Four-plus years of active GTA transactions and over $100 million in sales volume. Every figure here comes from a published table, regulator or statute linked in the sources, so you can check all of it without asking me.
Reach me at connect@jatindua.com or 833-330-1925, or book a call.