TORONTO, May 26, 2026 – The City of Toronto announced on May 22 that construction has officially begun on a new rental housing project at 72 Perth Avenue in the Davenport area, with completion expected by the end of 2028. The project will create 255 purpose-built rental homes, including 51 affordable rental units, representing 20% of the total. The city said the affordable units will be offered at affordable rents for 40 years and managed by WoodGreen Community Services. For newcomer families, low- to moderate-income renters, single-parent households and service-sector workers looking for stable rental housing in Toronto, the project will add long-term rental supply. However, actual move-in is still more than two years away, and eligibility rules, rent levels and application timelines will need to be confirmed through future updates.
The project is being advanced through a partnership between the city, Castlepoint Numa and Hazelview, with support from the city’s rental housing supply program. The city is providing about $16.5 million in funding and financial incentives, including deferred development charges, a 15% property tax reduction for purpose-built rental housing, and waivers of planning and building permit fees for the affordable rental units. The city said these measures are intended to increase long-term rental supply and preserve some affordable units in a high-rent market.
Toronto’s persistently high rents have made it difficult for many families to live near work, schools and community support networks. For newcomers who have recently arrived in Canada, service-sector workers with unstable income, and renters with children, moving farther away often means longer commutes, higher transportation costs and possible disruptions to school and childcare arrangements. The project’s location near public transit and community facilities, along with the fact that nearly half of the units will be two- and three-bedroom homes, may be meaningful for renters who need family-sized rental housing.
However, 255 new homes will not immediately ease current rent pressure. The project is expected to be completed only by the end of 2028, and the 51 affordable units are limited in number, meaning demand may be high when applications open. The city has announced the affordability period and management organization, but details such as who will be eligible to apply, how income thresholds will be calculated, whether there will be a waitlist, what documents will be required and when applications will open will depend on future updates from the city and WoodGreen Community Services.
For renters interested in applying, the more practical step now is to follow project progress and future notices from the managing organization, rather than treating the project as housing that will be available soon. Families can begin organizing income documents, tax records, identification, household member information and current lease details. If applications open in the future, these documents may affect eligibility screening and application speed.
The city said it is currently supporting more than 44 housing projects under construction across Toronto, which are expected to deliver more than 11,000 new homes once completed, including more than 6,200 rent-controlled or affordable homes. For renters, it is important not only to look at the total number of new units, but also to check the actual proportion of affordable units in each project, the length of the affordability period, the managing organization and the application pathway, so they do not miss future application openings.（LJI by Yuanyuan）
