Ontario Construction News staff writer
Construction has begun on 271 affordable rental homes in the next phase of the Regent Park revitalization, with completion targeted for 2029.
The 26-storey tower will be built at the southeast corner of Gerrard Street East and Dreamers Way and will include a mix of replacement and new affordable units, with a focus on family-sized homes. The project will deliver 136 replacement rent-geared-to-income units and 135 net-new affordable rental homes, along with indoor and outdoor community space.
The building is being developed by Toronto Community Housing Corporation in partnership with Tridel.
Mayor Olivia Chow and Coun. Chris Moise joined Evan Solomon, federal minister of artificial intelligence and digital innovation and minister responsible for the Federal Economic Development Agency for Southern Ontario, as well as Laura Smith, parliamentary assistant to Ontario’s minister of municipal affairs and housing, and Toronto Community Housing president and CEO Sean Baird at a groundbreaking ceremony.
More than $219 million in capital funding has been committed to the project, including $50.7 million from the City of Toronto, $86 million from the federal Affordable Housing Fund and $82.5 million from Toronto Community Housing. Since 2018, the province has contributed more than $7.6 million for environmental remediation at Regent Park to prepare the land for development. The city will also provide an estimated $14 million in program incentives and property tax exemptions.
“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,” said Mayor Olivia Chow. “This project delivers much-needed family-sized units and critical replacement housing.”
Moise called Regent Park a “vibrant, growing and thriving community,” adding the new building will help ensure it remains affordable and accessible for future generations.
Funding complements a $1.34-billion federal commitment to Toronto Community Housing’s capital repair program through 2027, which is aimed at maintaining existing units while new housing is built.
Regent Park is one of Canada’s largest urban revitalization projects, transforming about 69 acres in Toronto’s downtown east into a mixed-income, mixed-use community with affordable housing, community facilities and green space.
Phases 1 through 3 have created more than 6,000 homes, including one-for-one replacement of all original rent-geared-to-income units, along with additional new units. If fully funded, Phases 4 and 5 could add more than 3,400 affordable and replacement rental homes.
“At Tridel, we believe great cities are built when community, housing, and sustainability come together,” said Jim Ritchie, President and CEO, Tridel. “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.”
