City of Toronto Media Relations has issued the following:
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News Release
March 2, 2026
City of Toronto, Government of Canada, break ground on 271 affordable homes in Regent Park
Today, Mayor Olivia Chow and Councillor Chris Moise (Toronto Centre) joined the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario and Member of Parliament for Toronto Centre, as well as Laura Smith, Parliamentary Assistant to the Honourable Rob Flack, Ontario’s Minister of Municipal Affairs and Housing, and Sean Baird, President and CEO, Toronto Community Housing, to break ground on 271 affordable homes in the next phase of the Regent Park Revitalization.
The new 26-storey tower, located at the southeast corner of Gerrard Street East and Dreamers Way, will include a mix of replacement and net-new affordable homes, with a focus on family-sized units. Built by Toronto Community Housing and its development partner, Tridel, it will include 136 replacement rent-geared-to-income (RGI) homes and 135 net-new affordable rental homes, as well as new indoor and outdoor community spaces. Based on current construction timelines, tenant occupancy is anticipated in 2029.
This project is made possible by more than $219 million combined capital investment with $50.7 million from the City of Toronto, $86 million from the Government of Canada’s Affordable Housing Fund, and $82.5 million from Toronto Community Housing Corporation. Since 2018, the Province of Ontario has contributed over $7.6 million for environmental remediation efforts at Regent Park that readied the land for development. The City will also contribute an estimated $14 million through program incentives and property tax exemptions to advance the development of these critically needed affordable homes.
The Regent Park Revitalization is one of the largest urban revitalizations of its kind, transforming approximately 69 acres in Toronto’s downtown east into a vibrant mixed-income, mixed-use community, with RGI and affordable housing, community facilities and green space. The Revitalization has already delivered more than 6,000 homes in Phases 1 through 3, including one-for-one replacement of all RGI homes that were in the original community, as well as net-new homes to grow the portfolio of available affordable housing in Regent Park. Once complete, Phases 4 and 5 have the potential to deliver more than 3,400 new affordable and replacement rental homes if fully funded. The continued partnership among all three orders of government remains critical to build housing needed in Toronto and across the country.