Oxford begins construction on $750M rental community in Scarborough

Oxford Properties Group has officially broken ground on a landmark $750 million rental housing development in Scarborough Town Centre, marking the first major purpose-built rental project in Scarborough in decades.

Located on a 3.4-acre site, the development — named Alta —will deliver 1,285 new rental homes, including 268 affordable units. With three BDP Quadrangle-designed towers rising from two seven-storey podiums, Alta is the largest single-phase purpose-built rental development currently under construction in Toronto, bringing a mix of studios, one, two, and three-bedroom apartments and townhomes to the area.

Backing the project is a $650 million loan from the Canada Mortgage and Housing Corporation (CMHC) under its Apartment Construction Loan Program — the largest single loan approved in Toronto through the program. 

"Breaking ground on this development is a true milestone for Oxford as we look to use our proven development expertise to deliver much-needed housing solutions for the people of Scarborough, while sustainably intensifying transit-connected land to create mixed-use communities of the future," said Daniel Fournier, Executive Chair at Oxford Properties. "This generational project signifies a model we hope to replicate across Canada in the years to come, and with CMHC as a funding partner, we're confident it will serve as a prime example of the power of public-private partnerships to work together to address the housing challenges in Canada's largest cities."

Alta will include extensive indoor and outdoor amenities, including co-working spaces, a fitness centre, a children’s playroom, and outdoor lounges, alongside a new 22,000-square-foot public park. The project also embraces sustainability, featuring a geothermal heating and cooling system expected to reduce energy use by 55% and greenhouse gas emissions by 74% compared to conventional systems.

“Alta is a scalable case study in what designing for rental and livability can really look like in Toronto,” says Sami Kazemi, Principal at BDP Quadrangle, and BDP sector lead for housing in North America. “We took an Inside-Out approach to design, asking ourselves what the optimal suite layout could look like for families, livability, and rental, and then designed out the rest of the site from there – integrating in abundant greenspace and pedestrianized mews.”

Alta is the first phase of Oxford’s newly approved master plan for Scarborough Town Centre, which envisions transforming the mall into a mixed-use community with over 10,000 residential units. The plan also aligns with Scarborough’s City Centre’s and the future Scarborough Subway Extension.

Construction of Alta is expected to be completed by Summer 2029.