The City of Toronto and its real-estate agency CreateTO have selected three partners to lead the development of one of Ontario’s largest affordable-housing projects.

The entities will work with Civic Developments, Windmill Developments and Co-operative Housing Federation of Toronto to build a new development at 2444 Eglinton Ave. E.

The project will consist of two co-op buildings and a market ownership building, delivering approximately 918 homes including 612 rent-geared-to-income affordable and market rent-controlled co-operative homes. The site will also offer 3,580 square feet of community space as well as 12,770 square feet of retail space and is adjacent to the Kennedy Mobility Hub, which connects four major transportation lines.

“CreateTO is tasked with making the best use of City land to help solve some of the city’s most pressing issues, including building more affordable homes within inclusive communities across Toronto,” said Vic Gupta, Chief Executive Officer, CreateTO.

The project was made possible through Toronto’s Housing Now Initiative, which activates city-owned lands to stimulate the development of affordable rental housing within transit-oriented, mixed-income, mixed-use and complete communities.

Through the Housing Now Initiative, City Council approved approximately $40 million in land value and financial incentives, including a waiver of fees and charges and an exemption from property taxes.

Civic Developments, Windmill Developments and Co-operative Housing Federation of Toronto were selected as the development partners through a market offering process led by CreateTO on behalf of the city in 2021.

“I’m pleased to announce the development partners for this site, which is helping us reach our affordable housing targets,” said Mayor Olivia Chow. “This project is a good example of how the city, not-for-profit housing providers and private developers can work together to get affordable housing built.”

As a pilot project by the CreateTO Board of Directors, the development team will undertake the process to obtain a zoning bylaw amendment and other planning approvals required to enable the final development concept.

Construction is projected to start this year.