Construction is now underway on\u00a072 Perth Avenue<\/a>, where\u00a0Castlepoint Numa<\/a> and\u00a0Hazelview Investments<\/a> officially broke ground on May 22 on a new purpose-built rental development in Toronto\u2019s 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\u00a0Studio JCI<\/a>. 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\u00a0WoodGreen Community Services<\/a>, with occupancy targeted for 2028.<\/p>\n \u201cProjects like 72 Perth help the people who work in this city afford to live in this city,\u201d said Chow. \u201cNurses, 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.\u201d<\/p>\n Planned with a four-storey podium along Perth Avenue, the building will contain 19,387m\u00b2 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 ft\u00b2 of indoor and outdoor amenity space, including a fitness centre, swimming pool, sauna, coworking areas, games room, guest suites, and a children\u2019s 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.<\/p>\n Affordable housing forms a major component of the development, with 51 homes secured through the City of Toronto\u2019s 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.<\/p>\n \u201cThis is an important milestone for the Davenport community,\u201d said Bravo. \u201cThese new homes will help more people stay in the community they contribute to \u2014 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.\u201d<\/p>\n Sustainability and transit accessibility were central considerations in the project\u2019s 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.<\/p>\n The groundbreaking marks the latest phase in Castlepoint\u2019s 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\u2019s evolution into a mixed-use district that now includes the restored\u00a0Automotive Building<\/a> and the adjacent\u00a0T3<\/a> office campus.<\/p>\n \u201cI think everyone understands the difficulty in delivering new housing today in our market,\u201d said Jeff Brenner, Partner at Castlepoint Numa. \u201cThrough programs like the City\u2019s Rental Housing Supply Program that has unlocked this project, we\u2019re delivering much-needed rental housing and a meaningful amount of affordable housing, but what we\u2019re so proud of is that we\u2019re doing so without compromising on design.\u201d<\/p>\n 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.<\/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’s research and data service,\u00a0UTPro<\/a>, provides comprehensive data on construction projects in the Greater Golden Horseshoe\u2014from proposal through to completion. Other services include\u00a0Instant Reports<\/a>, downloadable snapshots based on location, and a daily subscription newsletter,\u00a0New Development Insider<\/a>, that tracks projects from initial application.\u200b<\/p>\n
May 25, 2026 by Anthony Teles<\/span><\/span>\u00a0\u00a0
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\u00a0446\u00a0<\/span><\/div>\nGround Broken on 255-Unit Rental at 72 Perth in Junction Triangle<\/span><\/p>\n<\/div>\n