Block 5 of the 18-acre Bloor-Kipling Housing Now development is now officially on the market, an offering that provides an attractive investment opportunity for developers interested in getting in on one of the largest City-led residential development projects underway in Toronto.

The to-be-developed Block 5 spans 2.16 acres and is addressed as 970 Kipling Avenue, located west of Kipling, below Bloor Street West, and above Dundas Street West.

The property was listed last week by Cushman & Wakefield on behalf of the City of Toronto and CreateTO (the City's development arm). The offering is for a 99-year land lease where a chosen builder would then develop and own the project planned for the City-owned parcel of land for the foreseeable future.

Located at the 'Six Points' in Etobicoke, the site is part of the larger Bloor-Kipling master-planned community, which contains seven development blocks and will deliver over 2,700 residential units, including over 900 affordable units, two public parks, and 88,264 sq. ft of retail and commercial space, once complete. As of now, under-construction elements of the master-planned community include Block 1, which consists of a purpose-built rental development, and Block 4, which will house a new Etobicoke Civic Centre and a District Energy plant.

Specs:

According to the listing, the site has secured Zoning Bylaw Amendment approval for a two-tower mixed-use development with heights of 12 and 28 storeys containing 586 purpose-built rental units, 176 of which would be affordable units. The gross floor area (GFA) would be 530,011 sq. ft, with approved plans calling for a maximum of 492,922 sq. ft of residential space and a minimum of 37,878 sq. ft of non-residential uses. As well, the Historical Alignment of Dundas Street West is proposed to be transformed into a half-acre park just north of the site.

The site and larger community are superbly positioned within close proximity to a number of higher-order transit options, including the Kipling Transit Hub, which provides access to TTC Subway Line 2, GO train service on the Milton Line as well as several TTC, MiWay, and GO bus routes.

On top of that, future residents will benefit from a wealth of amenities in the surrounding neighbourhood, including Sherway Gardens and shops along Dundas Street West, as well as a number of forthcoming conveniences to be located within the future Etobicoke Civic Centre, from a new Toronto Public Library branch to a public health clinic, childcare centre, retail space, and civic square.

  A timeline of the Bloor-Kipling master-planned development. / CreateTO, Cushman & Wakefield

While the approved development offers plenty of upsides to future residents, the listing also highlights a number of incentives that would appeal to the incoming developer of the project.

Not only does the site come with Zoning Bylaw Amendment approval, but it also qualifies for expedited review via the City's Priority Development Review Stream and exemptions for all affordable units, including no development charges, parkland dedication requirements, planning application fees, or building permit fees.

The listing points out that these advantages, along with the long-term land lease transaction structure, would significantly reduce upfront costs, while Etobicoke's strong rental market bodes well for occupancy down the line. Despite purpose-built rental completions being at a 30-year high, Etobicoke's vacancy rate sits at a balanced 3.5% as of Q1 2025 and more than 50% of Etobicoke residents are renters.

The chosen developer would be tasked with delivering on Housing Now's mandate of using City-owned lands to provide a range of affordable housing options within close proximity to transit. As such, the offer is "being presented with the intention of providing long-term, quality housing options for future generations," reads the listing.

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