CreateTO, the City of Toronto’s real estate agency, has announced that Civic Developments and Windmill Development Group have been selected to develop one of Ontario’s largest co-operative housing projects and one of the province's largest affordable housing developments in the past 25 years.
The 2.88-acre site at 2444 Eglinton Avenue East in Scarborough, is located across from Kennedy Station and in close proximity to Kennedy GO Station and the future Eglinton Crosstown LRT. Two-thirds of project’s 918 residential units will be comprised of rent-geared-to-income (RGI), affordable and market rental co-op housing, which be operated by the Co-Operative Housing Federation of Toronto (CHFT) — a non-profit housing partner. The co-op will provide long-term rental housing that will be owned and operated by residents on a non-profit basis. The remaining 306 units will be market condominiums.
“This is a significant step forward for housing in Toronto that demonstrates that with creativity and the right cooperation between the public, private and non-profit sectors, you can come up with solutions that have a big impact on the housing affordability issue,” said Dan Van Leeuwen, Partner, Windmill Development Group. “This is what affordable housing should look like in 2024.”
“It’s a pivotal time for housing in Toronto,” said Matthew Cohen, Managing Partner, Civic Developments. “The city is experiencing tremendous growth. It’s our hope that 2444 Eglinton can set a new precedent for mixed-tenure housing in Toronto that is accessible by transit. It’s time to shake up the status quo development models.”
The design team behind 2444 Eglinton includes Vancouver architecture firm Henriquez Partners Architects and landscape and urban design firm CCxA. Notably, 2444 Eglinton will be the first private sector-led site under the City of Toronto’s Housing Now program, which develops transit-oriented affordable housing on City-owned land.
“This is an incredibly important partnership to help the City reach its housing goals and deliver one of Ontario’s largest co-operative and affordable housing projects. I’m looking forward to welcoming the people that will call this development home in just a few short years,” said Vic Gupta, Chief Executive Officer, CreateTO.
“The time is right for governments and developers to get back into building quality, non-profit co-op housing. This project is a testament to how that can be done in today’s market,” said Tom Clement, Executive Director, Co-Operative Housing Federation of Toronto. “Over time, the rent for the co-op units will only rise to cover cost increases relative to the market, meaning these units will remain affordable for everybody. That’s true affordability.”
Upon completion, the project will contain a mix of studios, one-bedroom, two-bedroom and three-bedroom apartments. There are also additional community and retail spaces planned, with construction expected to commence in 2026.