Ontario Construction News staff writer
The Ontario government is investing up to $178 million toward construction of 1,700 new rental homes in Scarborough, including a target of 340 affordable units with below–market rents for 40 years.
Located on underused land near the Scarborough GO Station, the project will form part of the new Scarborough Junction, a transit-connected community expected to include 7,700 homes along with parks, public spaces and community amenities, the province says in a statement.
Project construction is expected to begin in 2027, with first occupancies anticipated by 2030.
The equity investment through Building Ontario Fund in a joint venture with Republic Developments and Harlo Capital is advancing a project that was previously stalled.
Once BOF’s investment has been repaid, the statement says it will reinvest in other projects that would not otherwise get built across six priority areas including affordable housing, energy, transportation, long-term care, municipal infrastructure, and critical minerals.
“We need to get more housing of all types built across the province, faster and smarter,” said Rob Flack, Minister of Municipal Affairs and Housing.
“That is why we have introduced a series of measures to reduce the time and cost of building, including the expansion of the HST rebate, the introduction of the Development Charge Reduction Program, and transformational legislative reforms through Bills 17, 60 and 98.”
The Scarborough Junction Masterplan is a future mixed-use development designed to connect several established neighbourhoods, creating a community supported by an existing major transit station. Plans include accessible housing, retail space, public squares and parks.
