[ad_1]
\n<\/p>\n
Construction is underway beside the Scarborough Town Centre<\/a>, where earlier today, Oxford Properties Group<\/a> officially broke ground on\u00a0Alta<\/a>, a $750 million purpose-built rental community set to deliver 1,285 new homes across three towers. Mayor Olivia Chow joined Oxford executives for the ceremony at the 3.4-acre site west of the mall.\u00a0<\/p>\n The development marks Scarborough\u2019s first major rental housing project in decades. It is the largest single-phase purpose-built rental development now under construction in Toronto, backed by a $650 million federal loan through the\u00a0Canada Mortgage and Housing Corporation\u2019s (CMHC) Apartment Construction Loan Program (ACLP). The funding represents the largest loan issued under the program to date for a Toronto-based project.<\/p>\n Situated a few minutes walk from the existing Scarborough Centre bus station south of the mall, and some minutes more from the future Danforth Line 2 Scarborough Subway Extension<\/a> station east of the mall, now under construction, the project is a response to a long-standing rental supply gap in the area, with over 20% of units designated as affordable. \u201cThis project will create more rental homes for people living and working in Scarborough and is an example of what\u2019s possible when we work together in partnership with the private sector,\u201d said Federal Housing Minister Gregor Robertson.<\/p>\n Designed by BDP Quadrangle<\/a>, Alta comprises three distinct towers from 35 to 45 storeys, rising from dual 7-storey podiums with ground-level retail. At the south end of the site, a new 22,000 ft\u00b2 public park will anchor the development.\u00a0<\/p>\n The unit mix, of which are 268 affordable units, spans 51 studios, 693 one-bedrooms, 411 two-bedrooms, and 130 three-bedroom units, including 23 townhomes. Residents will have access to co-working lounges, a fitness centre, a children\u2019s playroom, and outdoor gathering spaces. Alta is targeting Tier 1 of the Toronto Green Standard through the use of a geothermal heating and cooling system, expected to cut energy consumption by 55% and reduce greenhouse gas emissions by 74%.<\/p>\n The development is the opening phase of Oxford\u2019s long-term vision for Scarborough Town Centre, where the developer plans to transform 89 acres into a high-density, mixed-use district. The approved masterplan outlines over 10,000 residential units across 32 new buildings, with heights reaching up to 65 storeys. Future phases will include residential, retail, office, institutional, and public space components.<\/p>\n \u201cBreaking ground on this rental project is a true milestone for Oxford as we look to use our proven development expertise to deliver much-needed housing solutions for the people of Scarborough, while sustainably intensifying transit-connected land to create mixed-use communities of the future,\u201d\u00a0Oxford\u2019s Executive Chair, Daniel Fournier, said in a prepared statement. Fournier describes Alta as a scalable model that Oxford hopes to replicate in other Canadian cities facing similar housing pressures.<\/p>\n The $650 million CMHC loan has enabled the project to move forward at scale, supporting both market and affordable units in a single coordinated build. Blake Hutcheson, President and CEO of OMERS, emphasized,\u00a0\u201cIt is more important than ever that governments at all levels in Canada come together with the private sector.\u201d Alta is part of nearly $2 billion in recent Canadian investment activity by Oxford, which also includes the acquisition of a Western Canada office portfolio and the redevelopment of Canada Square in Midtown Toronto.<\/p>\n Construction preparation began at the Alta site in April, 2025, with the shoring permit issued in July, 2025. Completion is targeted for Summer, 2029.\u00a0\u201cThe City of Toronto is proud to support this project through the Rental Housing Supply Program,\u201d said Chow. \u201cWe are stronger together, working with the Government of Canada to create more affordable homes in Scarborough to meet the needs of our growing city.\u201d<\/p>\n 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.<\/p>\n * * *<\/p>\n UrbanToronto has a research service,\u00a0UTPro<\/a>, that provides comprehensive data on development projects in the Greater Golden Horseshoe \u2014 from proposal through to completion. We also offer\u00a0Instant Reports<\/a>, downloadable snapshots based on location, and a daily subscription newsletter,\u00a0New Development Insider<\/a>, that tracks projects from initial application.<\/p>\n <\/imgx><\/imgx><\/imgx><\/div>\n