Today, Mayor Olivia Chow and City of Toronto staff celebrated the start of construction of a new purpose-built rental project in midtown Toronto. This development, a strategic partnership between the City, CreateTO and Collecdev-Markee, will deliver a total of 494 new rental homes including 148 affordable rental homes.
Formerly home to a Toronto Water office building, the 275 Merton St. development repurposes City-owned land to build new housing to grow the City’s supply of rental homes while also delivering new publicly accessible space and a retail opportunity. Using public land is one of the best and most cost-effective ways to expedite the housing development process and ensure affordability.
This site is one of almost 100 City-owned sites that are either housing ready or may be unlocked for new housing. The new homes will be a mix of unit types including family-sized two- and three-bedroom homes. One third of the new rental homes (148 units) will be affordable for households earning a range of incomes. In addition to the purpose-built rental housing, 275 Merton St. will include an expanded midblock connection between Merton Street and the Kay Gardner Beltline Trail. The building will support the City’s climate action objectives and achieve sustainability measures set in the Toronto Green Standard.
On behalf of the City, CreateTO negotiated a development partnership with Collecdev-Markee to combine the City-owned property at 275 Merton St. with the adjacent site previously owned by the developer, to maximize the site’s potential, speed up delivery, provide an enhanced pedestrian connection to the Beltline Trail and help the City reach its housing goals.
The development is part of the City’s HousingTO Plan that intends to deliver 65,000 new rent-controlled homes including 41,000 affordable rental, 6,500 rent-geared-to-income (RGI) and 17,500 rent-controlled homes by 2030. More information is available on the City’s website.
Renderings of the project can be found here.
Quotes:
“The City of Toronto is investing more than $8 million dollars and leveraging City owned land to build more affordable homes for Torontonians. We are pleased to partner with CreateTO and Collecdev-Markee to break ground on 494 new rental homes including 148 affordable homes.”
– Mayor Olivia Chow
“The new development at 275 Merton is an example of what we can accomplish when governments work together with private sector partners to create much-needed purpose-built rental and affordable housing. Getting this project off the ground is a step towards bringing down housing costs and ensuring everyone has an affordable place in the heart of our city to call home.”
– The Honourable Leslie Church, Member of Parliament for Toronto-St. Paul’s
“275 Merton shows what’s possible when we work together. By combining City land with Collecdev-Markee’s property, we unlocked a unique opportunity to deliver much-needed housing. This isn’t a one-off. We need more creative partnerships like this to get shovels in the ground and build the homes Toronto needs.”
– Vic Gupta, CEO, CreateTO
“This development shows what’s possible when public land, private expertise, and strong political will come together. It’s a model for how we can build complete, inclusive communities in the heart of the city, with homes for people at every income level. In just a few years, Merton Street will welcome new neighbours and new energy – adding hundreds of homes that build on the strength of the community that’s already here.”
– Jennifer Keesmaat, CEO, Collecdev-Markee Developments
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