Expanded vision for Regent Park receives rezoning approval, setting the stage for hundreds of new affordable homes

Rezoning of Phase 4 and 5 lands creates a historic city-building opportunity for Toronto, including 633 RGI units, a new Toronto Public Library and up to 637 net-new affordable homes

TORONTO, July 24, 2023 /CNW/ - Toronto Community Housing (TCHC) and the City of Toronto are one step closer to creating hundreds of additional affordable homes for Torontonians as part of the Regent Park revitalization, following City Council approval of TCHC's rezoning application for the Phase 4 and 5 lands.

The approval sets the stage for TCHC, along with the support of its developer partner Tridel Builders Inc., to begin the final phases of Regent Park's revitalization to replace aging housing and address affordable housing demands by building a vibrant mixed-income, mixed-use neighbourhood.

Plan highlights include:

• 637 new affordable housing units
• 633 RGI (rent-geared-to-income) replacement units, completing TCHC's commitment to replace all 2,083 RGI units at Regent Park
• 1,976 additional market units 
• 10,461 m² of commercial and non-residential space 
• 3,714 m² of community space 
• A new civic square anchored by 2,200 m² Toronto Public Library 

The new vision for Phases 4 and 5 was developed with over 1,500 points of engagement with the community. Councillor Chris Moise and MPP Kristyn Wong-Tam (formerly Councillor for Toronto Centre) both played an important role in shaping the engagement process, ensuring that community voices were heard loud and clear. As a result, TCHC residents, Regent Park community members, local leaders, subject matter experts and City of Toronto staff all provided input and ideas that informed the vision for Phases 4 and 5, creating a design that maximizes the potential for building new homes and amenities.

By taking advantage of the opportunity to create more density, the vision for Regent Park maximizes the value of public assets to meet public demand for affordability and housing. Through the revitalization, the City of Toronto, TCHC and Tridel Builders Inc. are transforming part of downtown Toronto, ensuring it remains a thriving and vibrant community that welcomes all Torontonians.

An international team of architects, designers, planners and experts supported the design process, including: Karakusevic Carson Architects, Bousfields Inc., ERA Architects, Monumental, Trans Solar Klima Engineering & JVM Consulting, RWDI and PSF Studio.

The Phase 4 and 5 lands are bordered by Gerrard Street and Oak Street to the north and south, and River Street and Dreamers Way to the east and west. They are the last 16 acres on the 69-acre Regent Park site to be redeveloped. For more information on Phases 4 and 5 of the Regent Park revitalization, please visit RP4and5.ca. Next steps for the revitalization will include the start of demolition, expected this fall.

QUOTES:

"The newly approved plan for Phases 4 and 5 of the Regent Park revitalization is the product of close engagement and collaboration with the residents of Regent Park. With this rezoning, we have an opportunity to create homes for hundreds of more families and to meaningfully address the demand for affordable housing in Toronto. I'm grateful to the City of Toronto for their support in making this the best plan possible and I look forward to continued partnership with Tridel as we turn this vision into a reality."

• Jag Sharma, President and CEO, Toronto Community Housing Corporation

"The Regent Park Revitalization Project, initiated in 2007 by the late Deputy Mayor Pam McConnell, has reached a significant milestone. Rezoning for Phases 4 and 5 allowed us to respond to the housing crisis by adding 637 affordable units and increase the amount of community space, along with other benefits, to demonstrate our commitment to not only the physical development but also the cultural, economic, and social well-being of the community. More work lies ahead, but I am grateful to all involved, including the community, City Staff, TCHC, and Tridel, for their dedicated efforts. I remain committed to serving the residents of Regent Park and fostering their growth and prosperity."

• Councillor Chris Moise, Ward 13 Toronto Centre

"We look forward to working closely with Toronto Community Housing and the City of Toronto to address the need for housing development across the city. We are committed to providing innovative and actionable solutions for affordable housing. As an industry leading homebuilder, we consider the rezoning application to be a crucial milestone that aligns with our dedication to delivering top-quality, sustainable homes for Toronto's residents and families."

• Jim Ritchie, President, Tridel

ABOUT:

Toronto Community Housing (www.torontohousing.ca) is Canada's largest social housing provider, with more than 20 years of service to the community. Named a 2023 Greater Toronto Top Employer, TCHC is owned by the City of Toronto and provides homes for nearly 60,000 low- and moderate-income households in 106 of the city's 144 neighbourhoods. TCHC's 2,100 buildings represent a $10-billion public asset.

Tridel® is one of Canada's leading developers and builders of condominium residences, building homes since 1934. Tridel is a member of the Tridel Group of Companies, which is responsible for delivering over 89,000 homes to date. Tridel develops socially and environmentally responsible condominium communities. Guided by its 'Built for Life®' commitment, the company invests in innovations that promote sustainable design, high performance in construction, social inclusion and cohesion, and community economic development. Tridel is committed to building high-quality condominiums and has won awards for excellence in design and construction, green building, corporate social responsibility, diversity, equity and inclusion, customer service, and more. Tridel continues its history of award-winning excellence with more than 20 new communities under development in the Greater Toronto Area, representing over 6,500 condominium suites in the marketplace. The Tridel Group of Companies is one of Canada's largest privately held residential real estate groups. The Group consists of several operating companies focused on diverse areas of real estate, including development, sales, construction, property management and other related real estate services.

SOURCE Toronto Community Housing Corporation

MEDIA CONTACTS: Toronto Community Housing: TCHC media: [email protected] or [phone]; Tridel: Andreea Aslan, [email protected] or [phone]