Today, Mayor Olivia Chow and Councillor Chris Moise (Toronto Centre) joined the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario and Member of Parliament for Toronto Centre, as well as Laura Smith, Parliamentary Assistant to the Honourable Rob Flack, Ontario’s Minister of Municipal Affairs and Housing, and Sean Baird, President and CEO, Toronto Community Housing, to break ground on 271 affordable homes in the next phase of the Regent Park Revitalization.
The new 26-storey tower, located at the southeast corner of Gerrard Street East and Dreamers Way, will include a mix of replacement and net-new affordable homes, with a focus on family-sized units. Built by Toronto Community Housing and its development partner, Tridel, it will include 136 replacement rent-geared-to-income (RGI) homes and 135 net-new affordable rental homes, as well as new indoor and outdoor community spaces. Based on current construction timelines, tenant occupancy is anticipated in 2029.
This project is made possible by more than $219 million combined capital investment with $50.7 million from the City of Toronto, $86 million from the Government of Canada’s Affordable Housing Fund, and $82.5 million from Toronto Community Housing Corporation. Since 2018, the Province of Ontario has contributed over $7.6 million for environmental remediation efforts at Regent Park that readied the land for development. The City will also contribute an estimated $14 million through program incentives and property tax exemptions to advance the development of these critically needed affordable homes.
The Regent Park Revitalization is one of the largest urban revitalizations of its kind, transforming approximately 69 acres in Toronto’s downtown east into a vibrant mixed-income, mixed-use community, with RGI and affordable housing, community facilities and green space. The Revitalization has already delivered more than 6,000 homes in Phases 1 through 3, including one-for-one replacement of all RGI homes that were in the original community, as well as net-new homes to grow the portfolio of available affordable housing in Regent Park. Once complete, Phases 4 and 5 have the potential to deliver more than 3,400 new affordable and replacement rental homes if fully funded. The continued partnership among all three orders of government remains critical to build housing needed in Toronto and across the country.
Quotes:
“The City of Toronto is building more affordable housing and strengthening communities across our city. With investments of over $100 million from the City of Toronto and Toronto Community Housing, along with funding from the Government of Canada and support from the Province of Ontario, we are breaking ground on 271 affordable homes in Regent Park. This project delivers much-needed family-sized units and critical replacement housing. It reflects strong partnership across all levels of government working together to help deliver a safe, affordable and caring city for everyone.”
– Mayor Olivia Chow
“Our Government is focused in delivering housing for the people of Toronto and across the country. Supporting Regent Park Phase 4A is one of the ways we do that. I’m proud of our involvement in this project, and of the tangible difference it will make for people in our community.”
– The Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario and Member of Parliament for Toronto Centre.
“Under the leadership of Premier Ford, our government will continue making strategic investments that support the successful delivery of projects like this; projects that provide more Ontario residents and families with access to affordable housing in vibrant communities. Thank you to the dedicated partners working alongside us to forge a stronger future for people in Toronto and across Ontario.”
– The Honourable Rob Flack, Ontario Ministry of Municipal Affairs and Housing
“Regent Park is a vibrant, growing, and thriving community that welcomes such a diverse range of people, and this new building and its 271 affordable units will continue to strengthen Regent Park’s revitalization and evolution. Support from the Government of Canada ensures that this community will remain affordable and accessible to the next generation — and future generations — of Regent Park residents.”
– Councillor Chris Moise (Toronto Centre)
“We are proud of the partnership between the City of Toronto, the Government of Canada and Toronto Community Housing. Together, we are building and protecting high-quality, affordable homes that Toronto families will rely on for generations. This new investment in 271 affordable homes in Regent Park compliments the existing $1.34 billion federal commitment to TCHC’s capital repair program through 2027, keeping thousands of existing homes open and in good condition while we develop much needed new ones.
– Sean Baird, President and CEO, TCHC
“At Tridel, we believe great cities are built when community, housing, and sustainability come together. Collaborating with Toronto Community Housing on Phases 4 and 5 of Regent Park is an opportunity to deliver thoughtfully designed, energy-efficient homes that support families and strengthen the neighbourhood for decades to come. We are proud to help advance community building that puts people, affordability, design excellence, and long-term resilience at its core.”
— Jim Ritchie, President and CEO, Tridel
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