Rising to the occasion
The Real Estate News Exchange reports two joint venture developments are being proposed for the city, which would provide much needed affordable rental housing in the years to come. The first is Waterfront Toronto Quayside located in the West Don Lands area close to the Distillery District, and will be home to 1500 rental and retail units. Initial occupancy is slated for 2021.
The second development will be located in the Yonge/College area within walking distance of the College TTC subway station. It is proposed to have a total of 700 units of which 30% will be designated for affordable rental housing for a minimum of 40 years. However, the purchase of this land is still in the process and not expected to close until 2019. Find more information on the projects and the developers involved here