Major construction has started at 777 Victoria Park Avenue, where a former TTC commuter lot beside Victoria Park station in Scarborough’s Oakridge area is being transformed into a mixed-use, transit-oriented rental community. The ground breaking ceremony was attended by Mayor Olivia Chow, Parliamentary Secretary to the Minister of Housing and Infrastructure and MP for Ajax, Jennifer McKelvie, MP for Scarborough Southwest, Bill Blair, Councillor Parthi Kandavel, City of Toronto staff, and representatives of the development team.

The project is being advanced through a partnership involving the City of Toronto, CreateTO, the Canada Mortgage and Housing Corporation (CMHC), Alterra Group of Companies, and Mahogany Management. Designed by Sweeny &Co Architects, the development introduces a 12-storey mid-rise and 35-storey tower, together providing 705 purpose-built rental homes on an 8,002m² parcel. Of these, 449 are market units and 256 are affordable. It is one of nearly 100 City-owned sites that have been identified as housing-ready or with potential to be unlocked for new housing. 

One third of the homes at 777 Victoria Park Avenue will be affordable rentals, including deeply affordable options. The program also includes a significant share of family-sized two- and three-bedroom units to serve households with children. The project contributes to the City’s HousingTO 2020–2030 Action Plan, which targets 65,000 rent-controlled homes by the end of the decade, including 41,000 affordable units, 6,500 rent-geared-to-income units, and 17,500 other rent-controlled homes.

“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,” said Chow.

The development is supported through federal programs administered by CMHC, with more than $291 million invested via the Apartment Construction Loan Program and the Affordable Housing Fund. This backing forms part of the $2.55 billion federal–municipal agreement announced earlier this year to accelerate seven rental housing projects across Toronto, all set to start construction by 2026.

“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 neighbourhoods, and to the belief that when we work together, we build a Canada strong,” said Blair.

“The Government of Canada is committed to working with our partners to rise to the challenge of building more housing in Canada,” shared McKelvie.

Located beside Victoria Park station, the project is designed to bring new services and amenities to the surrounding community in addition to housing. A childcare centre, publicly accessible open space, new retail, and community facilities are planned, along with improvements to the surrounding public realm to strengthen connections to Victoria Park station. In addition, a geothermal energy system incorporated into the development supports the City’s climate action targets.

The project reflects CreateTO’s mandate to repurpose public land for housing and community benefit. “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 Avenue in Scarborough Southwest. … With affordable housing, a new childcare centre and more, we are continuing our mission of re-purposing public land for public good,” said Vic Gupta, CEO of CreateTO.

“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,” expressed Kandavel.

UrbanToronto will continue to follow progress on this development, but in the meantime, you can learn more about it from our Database file, linked below. If you’d like, you can join in on the conversation in the associated Project Forum thread or leave a comment in the space provided on this page.

Source: www.urbantoronto.ca