The Financial Post reports in its Tuesday edition that Leon's Furniture announced on Monday that it is closer to developing a master-planned community that includes 4,000 residential units in Toronto. The Post's Denise Paglinawan writes that Leon's received rezoning approval from the Ontario government in December, 2023, for the 40 acres of land for mixed-use including residential, commercial and retail elements. This follows an earlier approval it got from the City of Toronto in July, 2022. "By establishing more density as part of a multiyear, multiphase development, we will be helping to meet the overwhelming demand for additional housing within the city, while generating substantial value for LFL shareholders," said chief executive officer Michael Walsh. The land is bordered by Highway 401 to the north, Highway 400 to the west/southwest and Jane Street to the east. The firm's home office has been located on this parcel since it went public in 1969. Mr. Walsh said the company owns 429 acres of land across the country, which it develops on its own for its stores, warehouses and distribution centres and other properties it owns. Mr. Walsh says, "Unlocking the value of our real estate is massive."