TORONTO — The board of directors of Toronto Community Housing Corporation (TCHC) has approved the selection of Tridel as TCHC’s developer partner for Phases 4 and 5 of the Regent Park revitalization project following a request for proposals process.
As part of the deal Tridel will undertake a $26.8-million community economic development program intended to benefit the tenants and residents of Regent Park, stated a Dec. 15 release. The program will take shape over the next year with input from the community.
The Daniels Corporation will continue to be TCHC’s developer partner for Phase 3 and will complete all work arising from its partnership with TCHC. The Daniels Corporation, Tridel and Capital Developments were the three developers competing for the Phase 4 and 5 contract under the RFP.
Currently, Tridel is also TCHC’s developer partner for the Leslie Nymark and Alexandra Park revitalization projects.
“Our goal was to realize the best social and financial value for the development of this public asset, leading to the best possible outcomes for tenants and the people of Toronto. We have reached that goal through the RFP. Tridel won the contract with a plan that provides outstanding value to the Regent Park community, TCHC and the City of Toronto,” stated TCHC board chair Tim Murphy in the release.
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