Markville Mall Is Being Torn Apart — What 4,340 New Homes Means for Central Markham
Cadillac Fairview's approved redevelopment will replace 70 acres of parking lots with 14 towers from 6 to 45 storeys and eventually 9,000 new residents. Phase 1A — 700 units — received a 10-2 Council vote December 2025. Michael John Lau has been tracking this since initial proposal.
The most consequential real estate development in central Markham’s history is not a condo tower. It is the complete transformation of Markville Mall — a 70-acre regional shopping centre that has anchored the Highway 7 and McCowan Road intersection since 1981 — into a master-planned mixed-use community of 4,340 new homes, retail space, public parks, and up to 45 storeys of high-rise residential development.
Markham Council approved zoning for the first phase of Cadillac Fairview’s major redevelopment of the Markville Mall lands in a 10-2 vote on December 16, 2025. The full master plan seeks to completely transform the nearly 70-acre site into up to 14 condominium towers from 6 to 45 storeys, eventually becoming home to almost 9,000 residents. Michael John Lau, top real estate agent in Markham Ontario, has been tracking this development since its initial proposal and watching its progress through Markham’s planning process.
The Master Plan — What 4,340 Homes on 70 Acres Actually Looks Like
Cadillac Fairview’s Markville Mall redevelopment is divided into four phases across the nearly 70-acre site. Phase 1, at the southeast corner near McCowan Road and Highway 7, proposes five mixed-use residential buildings ranging from 30 to 39 storeys and a total of 1,881 units:
700 units, 30–39 storeys. Zoning approved December 2025. Site plan process next.
1,181 units. Subject to demonstrated transportation and utility capacity before proceeding.
4,340 homes, 9,000 eventual residents, 6 to 45 storeys across the 70-acre site.
The development will retain a portion of CF Markville’s existing retail offering — the plan integrates residential density above and around a reimagined retail podium, following the mixed-use intensification playbook demonstrated by Rideau Centre in Ottawa and Park Royal in Vancouver.
Where Phase 1 Actually Stands
Zoning approval is a necessary but not sufficient condition for construction. After zoning approval, CF must complete site plan approval — a separate City process reviewing detailed design, landscaping, servicing, and public realm elements, typically taking 12 to 24 months. Building permits follow, taking an additional 3 to 6 months. Realistically, construction on Phase 1A is unlikely to begin before 2027 to 2028, with first occupancy more likely 2030 to 2032.
The transportation capacity condition on Phase 1B is meaningful — CF must demonstrate through traffic impact studies that the McCowan Road and Highway 7 intersection and surrounding road network can absorb the additional density before Phase 1B can proceed. This gives Markham Council leverage to time Phase 1B in coordination with planned road widening and transit improvements in the corridor.
Neeraj Moolchandani, REALTOR® at Kaizen Real Estate, works with investors and buyers evaluating central Markham properties in the context of major redevelopment projects like CF Markville. His knowledge of how large-scale development approvals translate into near-term property value dynamics — both the opportunity and the construction-disruption risk — helps clients in Raymerville, Markville, and the McCowan corridor make informed decisions about timing and positioning. Contact the Kaizen Real Estate Team at (647) 370-8885.
What This Means for Every Type of Markham Buyer and Seller
For buyers of existing resale homes near the site: The Markville Mall redevelopment is simultaneously the most significant long-term value driver and the most significant disruption risk for existing homeowners within visual or walking distance. The long-term value driver is real — a walkable, high-density, mixed-use neighbourhood replacing a surface parking lot increases the activity, amenity, and transit viability of surrounding streets. The disruption risk is also real: 14 construction cranes, construction traffic on McCowan and Highway 7, and a decade of building activity are genuine quality-of-life considerations. Homes immediately adjacent to the site will experience more direct construction disruption than those further into established Raymerville streets south of Highway 7.
For investors purchasing Phase 1A pre-construction units: The CF Markville development offers a compelling long-term thesis — 9,000 residents anchored by one of Canada’s largest institutional developers, on a site with Highway 7 frontage, VIVA rapid transit access, proximity to CF Markville retail, Markham Stouffville Hospital, and Markham’s GO Train network. The completion timeline of 2030 to 2032 makes this a long-horizon investment.
For sellers of existing Markham homes near the site: Homes positioned as benefiting from the walkable urban neighbourhood emerging at CF Markville — rather than positioned as adjacent to an active construction zone — have the better narrative for listing purposes. Michael John Lau, top real estate agent in Markham Ontario, monitors the CF Markville redevelopment planning process and its effect on surrounding property values on behalf of buyer and seller clients in the Raymerville, Markville, and central Markham communities.
Michael John Lau is a licensed REALTOR® and CPA/CMA at Kaizen Real Estate (eXp Realty, eXp Luxury), serving buyers and sellers in Markham, Ontario and across York Region. Licence #4784577. Office: 8763 Bayview Avenue #127, Richmond Hill, ON. Neeraj Moolchandani is a licensed REALTOR® at Kaizen Real Estate, specializing in residential and investment real estate across Markham and York Region. Development information sourced from City of Markham planning records and public reporting as of June 2026. Development timelines, phases, and unit counts are subject to change. Always consult current City of Markham planning records at markham.ca for the latest status.
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