Today, Mayor Olivia Chow, Jennifer McKelvie, Parliamentary Secretary to the Minister of Housing and Infrastructure and Member of Parliament for Ajax, The Honourable Bill Blair, Member of Parliament for Scarborough Southwest, Councillor Parthi Kandavel (Scarborough Southwest) and City of Toronto staff celebrated the start of major construction of a new mixed-use, transit-oriented community in Scarborough Southwest. This development, on City-owned land adjacent to Victoria Park Station, will deliver a total of 705 new purpose-built rental homes including 256 affordable rental homes.
777 Victoria Park Ave., formerly a TTC commuter parking lot, is being developed through a partnership between the City, CreateTO, CMHC, Alterra Group of Companies and Mahogany Management.
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, representing 256 units, will be affordable for households earning a range of incomes including those in need of deeply affordable rental housing.
In addition to the purpose-built rental housing, the site will include a new childcare centre, new publicly accessible open space, community space, improvements to the public realm and retail. With a geothermal energy system, the building will support the City’s climate action objectives.
This project is contributing to the City’s HousingTO Plan target 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.
To address the housing crisis, the City is building more housing like 777 Victoria Park Ave. that are strengthening our communities and providing more affordable homes for Torontonians.
Quotes:
“Creating more affordable housing means creating stronger communities across Toronto. With support from the federal government and a $30.2 million waiver in development fees and charges from the City, we are breaking ground on 705 new homes, including 449 market rental units and 256 affordable rental homes. This transit-oriented, mixed-use development at Victoria Park Station will also include a new child-care centre, community space and public amenities. Together, we are building a more affordable and inclusive city for all Torontonians.”
– Mayor Olivia Chow
“We need to build more, build better and build bolder. Through investments in rental housing, our government is supporting those who need it most, here in Toronto and across the country. We are committed to strengthening communities through initiatives like this one.”
– The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada
“The Government of Canada is committed to working with our partners to rise to the challenge of building more housing in Canada. Through programs like the Apartment Construction Loan Program, and the Affordable Housing Fund we are taking action to increase the supply of new rental housing by investing more than $291 million in the construction of 705 homes in Toronto. This is more than just construction, it’s about creating opportunities for individuals and families to thrive, to grow, and to build their future with stability and dignity.”
– Jennifer McKelvie, Parliamentary Secretary to the Minister of Housing and Infrastructure and Member of Parliament for Ajax
“Together, with our partners, we are building more than just homes, we are creating spaces where families and individuals can thrive. With programs like the Apartment Construction Loan Program and the Affordable Housing Fund, we are investing in a future where everyone has access to a safe, stable place to call home. This is a commitment to the strength of our neighborhoods, and to the belief that when we work together, we build a Canada strong.”
The Honourable Bill Blair, Member of Parliament for Scarborough Southwest
“I’m proud to be here today to break ground on a new housing development in Scarborough Southwest. With the support of CreateTO and our partners, we will be able to add 705 new residential homes including 256 affordable homes to our community. This development will not only help address the housing crisis but will create a stronger community here in Scarborough Southwest”
– Councillor Parthi Kandavel (Scarborough Southwest)
“On behalf of CreateTO, I am proud to stand with the City of Toronto and our development partners to mark the start of major construction at 777 Victoria Park Ave. in Scarborough Southwest. This former parking lot will soon transform into a complete transit-oriented, mixed-use community, steps from the TTC’s Victoria Park station. With affordable housing, a new childcare centre and more, we are continuing our mission of re-purposing public land for public good.”
– Vic Gupta, CEO, CreateTO
“It is very exciting to be part of this public-private collaboration working with City-owned land to develop 777 Victoria Park into high quality market, affordable and supportive housing for Toronto residents. The City of Toronto, CreateTO, the Federal Government (CMHC) and the Alterra Team have worked tirelessly to get shovels in the ground today. Everyone has been moving with a single vision to provide the highest quality transit-oriented housing possible, focused on fostering a strong, sustainable and diverse community.”
– Tim Neeb, President, Mahogany Management
CreateTO was formed in 2018 as the City of Toronto’s real estate agency. The organization brings together stakeholders, partners and community members to ensure the best use of the City’s real estate assets for today and tomorrow. CreateTO manages the City’s $27 billion real estate portfolio, develops City buildings and lands for municipal purposes and delivers client focused real estate solutions – ensuring a balance of both community and economic benefits to build the city we love. More information is available on the CreateTO website.
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