The City of Toronto has announced the start of major construction of a new mixed-use, transit-oriented community in Scarborough Southwest.

The development, on city-owned land adjacent to Victoria Park Station, will deliver a total of 705 new purpose-built rental homes including 256 affordable rental homes.

The project sees a TTC commuter parking lot at 777 Victoria Park Ave. developed through a partnership between the city, CreateTO, CMHC, Alterra Group of Companies and Mahogany Management. This site is one of almost 100 city-owned sites that are either housing ready or may be unlocked for new housing.

“Creating more affordable housing means creating stronger communities across Toronto,” said Mayor Olivia Chow. “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, including 449 market rental units and 256 affordable rental homes.”

The new homes will be a mix of unit types including family-sized two- and three-bedroom homes. One third of the new rental homes will be affordable for households earning a range of incomes including those in need of deeply affordable rental housing.

In addition to the purpose-built rental housing, the site will include a new childcare centre, new publicly accessible open space, community space, improvements to the public realm and retail. With a geothermal energy system, the building will support the city’s climate action objectives.

This project is contributing to the City’s HousingTO Plan target to deliver 65,000 new rent-controlled homes, including 41,000 affordable rental, 6,500 rent-geared-to-income and 17,500 rent-controlled homes by 2030.