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Toronto's Quayside Development: A $1.25 Billion Housing Project with a $200,000 Price Tag per Home

Strategic Insights

— 1 min read

A massive $1.25 billion development is underway in Toronto's Port Lands, featuring 1,100 market-rental apartments and 550 affordable units on a 12-acre site. Waterfront Toronto and developers Dream Unlimited and Great Gulf have secured city council approval for the project, which will break ground in 2026 and deliver its first new residents in 2031. The Quayside development includes a unique "community forest" - a two-acre car-free public space - and features seven buildings, including a 66-storey tower with a mix of affordable and market rental units.

Key Takeaways:

  • The Quayside development will deliver a total of 1,650 housing units, with 1,100 market-rental apartments and 550 affordable rentals.
  • The project is expected to cost $1.25 billion, with $190 million in funding from all levels of government.
  • The development will feature a unique "community forest" - a two-acre car-free public space.
  • Seven buildings will be constructed, including a 66-storey tower with a mix of affordable and market rental units.
  • The project breaks ground in 2026 and is expected to deliver its first new residents in 2031.
  • The development is a significant investment in Toronto's housing market, with a price tag of $200,000 per home.
  • The federal government's $13-billion seed capital for the Build Canada Homes agency could deliver about 65,000 homes, making the Quayside development a small drop in the harbour relative to Canada's housing needs.

Statistics:

  • $1.25 billion: The total cost of the Quayside development.
  • $190 million: The amount of funding from all levels of government for the project.
  • 1,670: The total number of housing units to be delivered.
  • 12 acres: The size of the Quayside site.
  • 2026: The year ground will be broken on the project.
  • 2031: The year the first new residents are expected to move in.
  • $200,000: The price tag per home.
  • $13 billion: The seed capital for the Build Canada Homes agency.
  • 65,000: The number of homes that could be delivered with the agency's current budget.

Sources:

  • [Excerpt from Globe and Mail article] - Original publication date not specified.

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