A plan to develop 80 affordable rental homes within a mixed-use market condominium building on the Toronto waterfront was adopted by city council recently.
TORONTO
A plan to develop 80 affordable rental homes within a mixed-use market condominium building on the Toronto waterfront was adopted by city council recently.
The $26-million Bayside initiative is to be built and operated through a partnership among the City, Waterfront Toronto, developers Hines/Tridel and Artscape. Construction is expected to be completed by 2018-2019.
The 80 affordable rental homes are to be part of the Hines/Tridel Bayside development, located between Lower Sherbourne and Parliament Streets in the emerging East Bayfront neighbourhood. The affordable units will be owned by the City and operated by Artscape.
The one-, two- and three-bedroom apartments are to be built in a mixed-use building that would also contain 225 market condominiums and retail space. All the affordable units will be accessible to visitors, with five per cent fully accessible.
The affordable housing component would have its own entrance, elevators and parking. The building will be designed to Waterfront Toronto’s Design Excellence standards and built in accordance with the Affordable Housing Office Design Guidelines.
The Bayside development will assist in fulfilling the city’s Central Waterfront Secondary Plan requirement for affordable housing as well as Waterfront Toronto’s commitment that 20 per cent of residential units in new waterfront communities be affordable rental housing.
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