Over 250 New Affordable Homes Break Ground In Regent Park

Construction is expected to continue through 2029, adding a significant number of affordable homes to Toronto’s downtown east.

March 02, 2026

02:34 PM

Toronto’s Regent Park is poised to welcome 271 new affordable homes as the next phase of its revitalization moves forward.

A new 26-storey tower, at the southeast corner of Gerrard Street East and Dreamers Way, will deliver 136 replacement rent-geared-to-income (RGI) units and 135 new affordable rental homes, with a focus on family-sized apartments. New indoor and outdoor community spaces are also part of the development.

The official ground-breaking was celebrated on Monday, and tenant occupancy is expected in 2029.

The project is backed by more than $219 million in combined funding: $50.7 million from the City of Toronto, $86 million from the federal Affordable Housing Fund, and $82.5 million from Toronto Community Housing (TCHC). Ontario has contributed over $7.6 million since 2018 for environmental remediation, and the City will provide an estimated $14 million in incentives and property tax exemptions.

Regent Park’s revitalization spans roughly 69 acres in downtown east Toronto, transforming the neighbourhood into a mixed-income, mixed-use community.

Phases 1 through 3 have already delivered more than 6,000 homes, replacing every original RGI unit and adding new affordable housing. Phases 4 and 5 could deliver more than 3,400 additional homes if fully funded.

"With investments of over $100 million from the City of Toronto and Toronto Community Housing, along with funding from the Government of Canada and support from the Province of Ontario, we are breaking ground on 271 affordable homes in Regent Park," Toronto Mayor Olivia Chow said in a release.

"This project delivers much-needed family-sized units and critical replacement housing. It reflects strong partnership across all levels of government working together to help deliver a safe, affordable and caring city for everyone.”

TCHC CEO Sean Baird noted that the 271 new homes complement the federal government’s $1.34 billion commitment to maintaining existing units while developing new ones.

Construction is expected to continue through 2029, adding a significant number of affordable homes to Toronto’s downtown east.

Affordable Housing

CREA: Winter Storms Suppress January Home Sales

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Over 250 New Affordable Homes Break Ground In Regent Park

Construction is expected to continue through 2029, adding a significant number of affordable homes to Toronto’s downtown east.

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