Construction Begins on 255 New Rental Homes in Davenport, Toronto

📅 4 days ago

Groundbreaking for a significant rental housing project in Toronto's Davenport neighborhood marks the start of construction for 255 new rental units, including 51 affordable homes, supported by city initiatives.

In Toronto's Davenport neighborhood, construction has officially commenced on a new project that will introduce 255 rental homes, inclusive of 51 affordable units. This initiative is a collaborative effort involving the City of Toronto and development partners Castlepoint Numa and Hazelview. The project, situated at 72 Perth Ave., is strategically located in the southern section of the Junction Triangle and is anticipated to be completed by the end of 2028. The City’s Rental Housing Supply Program is instrumental in this venture, offering various financial incentives and grants aimed at expediting the construction of purpose-built rental housing, according to an official release.
The financial backing for the project amounts to approximately $16.5 million. This includes an indefinite deferral of all development charges, a 15 percent reduction in property taxes specifically for the purpose-built rental homes, and waivers for planning and building permit fees pertaining to the affordable rental units. The design of the building will feature an 18-storey structure atop a four-storey podium, providing a range of unit sizes from one to four bedrooms, catering to long-term residents.
Residents of the new development will benefit from about 13,000 square feet of combined indoor and outdoor amenity space. This will encompass a variety of facilities including a fitness center, swimming pool, sauna, games room, children’s playroom, co-working space, guest suites, and designated bike storage and repair areas. Additional rooftop amenities are planned for the 19th floor, with outdoor patios also available on the fourth, fifth, 15th, and 17th floors.
In terms of sustainability, the project aims to meet Tier 3 of the National Energy Code for Buildings (NECB) 2020 guidelines. It will incorporate an onsite geothermal system, striving for a 50 percent reduction in energy consumption and an 80 percent decrease in greenhouse gas emissions compared to baseline figures, as detailed in the release.
Castlepoint has been involved with the broader development site since 2008, during which time it has led efforts to remediate a former industrial property and has played a crucial role in establishing the mixed-use district that is now home to the heritage Automotive Building and the T3 office campus, which is managed by Hazelview.
The final zoning amendment for this project received approval from the Toronto City Council in May 2025, paving the way for subsequent demolition work that was completed in December 2025, thus clearing the site for construction to begin. WoodGreen Community Services will act as the affordable housing partner for this undertaking, reinforcing the project's commitment to providing accessible housing options in the area.

Related Posts