Medallion Corporation has broken ground on The Foundry District, a mixed-use rental community planned for a 23-acre former industrial site in downtown Oshawa.
For 85 years, the land was home to the Fittings Factory, a cast-iron works that employed hundreds of Oshawa residents. The plant closed in 1987, and the site has sat vacant for nearly four decades since.
Construction began Thursday on the first two purpose-built rental buildings, at 119 and 151 Bruce Street. One will rise 10 storeys, the other 23. Together, they'll deliver more than 500 rental homes — 30% of which will be affordable, with additional homes being rent-geared-to-income.
Leasing for the two buildings is expected to begin in late 2029.
The project is backed by $188 million in funding, drawn from CMHC's Apartment Construction Loan Program, the Region of Durham's Regional Revitalization Program and a grant agreement with the City of Oshawa.
The Foundry District one of the largest revitalization projects in Durham Region's history, according to a release from Medallion, and it comes as purpose-built rental housing is urgently needed across the Greater Toronto and Hamilton Area and the country.
"Our government is committed to driving housing supply to bring down costs. This project will create more rental homes for people living and working in Oshawa and is an example of what's possible when we work together in partnership with the private sector. This is another step forward in our bold, ambitious plan to build Canada strong," The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, said in the release.
A rendering of the first two buildings, 119 and 151 Bruce Street, which will total 500 homes. (Courtesy of Medallion Corporation)
For Oshawa Mayor Dan Carter, the groundbreaking marks the end of a long wait.
"For decades, this land was a reminder of what Oshawa used to be. Today it becomes the foundation of what we are becoming — a growing downtown where thousands of people will live, work and gather, with new community amenities and a beautiful park at the heart of their community," Carter said. "Oshawa has waited nearly forty years for cranes to rise on Bruce Street and there is no better feeling as mayor than seeing that day arrive."
A proposed park is planned for the centre of the site — new green space intended to serve residents, neighbours and visitors, positioned where the factory floor once stood.
A rendering of a proposed park that would add significant green space to downtown Oshawa. (Courtesy of Medallion Corporation)
"We are establishing a new centre of gravity for downtown Oshawa — a place our future residents will call home, and a public realm all of Durham Region can enjoy," Anna Fagyas, Director of Development, Medallion Corporation, said in the release.
The Long-Term Vision
Beyond the first two buildings, Medallion's plan for the full site includes the opportunity for approximately nine buildings and approximately 3,000 rental homes in total, along with local retail, restaurants and the park.
The community is designed to serve a wide range of residents, including families, students, seniors, young professionals, newcomers and downsizers.
The site sits near the Tribute Communities Centre, and downtown Oshawa's existing restaurants, businesses and cultural venues.
