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446 Ground Broken on 255-Unit Rental at 72 Perth in Junction Triangle
Construction is now underway on 72 Perth Avenue, where Castlepoint Numa and Hazelview Investments officially broke ground on May 22 on a new purpose-built rental development in Toronto’s Junction Triangle neighbourhood. Joined by Mayor Olivia Chow, Councillor Alejandra Bravo, MP Julie Dzerowicz, and members of the project team, the ceremony marked the start of construction for the 18-storey rental building designed by Studio JCI. Rising just south of Bloor Street West, the project will deliver 255 rental homes, including 51 affordable units (one in five homes in the building) managed in partnership with WoodGreen Community Services, with occupancy targeted for 2028.
“Projects like 72 Perth help the people who work in this city afford to live in this city,” said Chow. “Nurses, teachers, transit workers, artists, small business employees and families who keep Toronto moving should be able to build their lives here. With more family-sized rental homes, affordable units and homes close to transit, this project is part of our work to make sure Toronto remains a city where working people can stay, raise a family and belong.”
Planned with a four-storey podium along Perth Avenue, the building will contain 19,387m² of Gross Floor Area across a mix of one- to four-bedroom suites, including 94 two-bedroom and 27 three-bedroom units. Residents will have access to roughly 13,000 ft² of indoor and outdoor amenity space, including a fitness centre, swimming pool, sauna, coworking areas, games room, guest suites, and a children’s playroom. Outdoor terraces are planned across multiple levels, including rooftop amenity space on the 19th floor, while the development will include 257 bicycle parking spaces, a bike repair facility, direct access to the West Toronto Railpath, and 42 vehicular parking spaces within a single underground level.
Affordable housing forms a major component of the development, with 51 homes secured through the City of Toronto’s Rental Housing Supply Program. Managed by WoodGreen Community Services, the affordable units will remain below-market for 40 years and are planned with the same finishes, amenities, and design standards as the market-rate homes, fully integrated throughout the building. The City committed approximately $16.5 million in incentives and financial support toward the project, including deferred development charges, property tax reductions, and waived planning and permit fees tied to the affordable housing component.
“This is an important milestone for the Davenport community,” said Bravo. “These new homes will help more people stay in the community they contribute to — close to their work, schools and support networks. Rental projects like this that include affordable housing units help ensure our neighbourhood remains inclusive and accessible.”
Sustainability and transit accessibility were central considerations in the project’s design, with the development targeting Tier 3 performance under NECB 2020 standards through an on-site geothermal heating and cooling system. The building is expected to reduce energy consumption by roughly 50% and greenhouse gas emissions by approximately 80% compared to baseline targets, while all units and common areas are planned to meet CSA barrier-free visitability standards. Located in the southern Junction Triangle, the site sits within walking distance of Dundas West station, Bloor GO station, and the UP Express, with direct access to the West Toronto Railpath and the Bloor Street West commercial corridor.
The groundbreaking marks the latest phase in Castlepoint’s transformation of the former industrial lands surrounding Perth Avenue and Sterling Road. After acquiring the broader site in 2008, the developer undertook environmental remediation work and helped guide the area’s evolution into a mixed-use district that now includes the restored Automotive Building and the adjacent T3 office campus.
“I think everyone understands the difficulty in delivering new housing today in our market,” said Jeff Brenner, Partner at Castlepoint Numa. “Through programs like the City’s Rental Housing Supply Program that has unlocked this project, we’re delivering much-needed rental housing and a meaningful amount of affordable housing, but what we’re so proud of is that we’re doing so without compromising on design.”
The project forms part of a larger pipeline of City-supported rental housing developments underway across Toronto through the Rental Housing Supply Program. According to the City, more than 44 active projects are currently being advanced through municipal incentives and funding programs, representing over 11,000 new homes, including more than 6,200 affordable or rent-controlled units. Positioned near higher-order transit and cycling infrastructure, 72 Perth reflects the continued push toward transit-oriented rental intensification in established neighbourhoods as the City works toward its HousingTO 2020-2030 targets, with completion anticipated by the end of 2028.
UrbanToronto will continue to follow progress on this development, but in the meantime, you can learn more about it from our Database file, linked below. If you’d like, you can join in on the conversation in the associated Project Forum thread or leave a comment in the space provided on this page.
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