218 out of 725 of the properties at the development will be classified as affordable. Credit: Ann Wallace via Unsplash.

The City of Toronto has commenced construction on its first Housing Now development project at 5207 Dundas Street West in Ontario, Canada.

As part of the Housing Now development, which Toronto City Council authorised in January 2019, the city is partnering with CreateTO, Kilmer Group, and Tricon Residential to implement this project.

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The project encompasses 725 new rental homes, of which 218 will be considered affordable.

Affordable housing rates will be set between 40% and 100% of the average market rent rate.

The development will feature several types of unit options ranging from one to four-bedroom floor plans. It will also have retail features that will provide its residents with amenities, services, and public areas for community meetings and activities.

Furthermore, the project will help towards the city’s net-zero goals by aiming for Toronto Green Standard Version 3, Tier 3, with a zero-carbon certification.

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Toronto mayor Olivia Chow said: “Building more affordable housing is critical to creating a city that’s accessible and inclusive to everyone.

“The city is committed to increasing the supply of affordable housing so that people of all different income levels and occupations can afford to live here.

“The city’s Housing Now programme is a great example of how strong partnerships between multiple levels of government, the private sector, the non-profit sector and the local community can help us build the housing we need.”