Who are the project's owners/developers?
Choice Properties REIT and Greenwin Corp. are the property owners and developers.
How is Infrastructure Ontario involved in this project?
The Ministry of Infrastructure is the former owner of the 26 Grenville & 27 Grosvenor site.
As mentioned on Infrastructure Ontario’s website, “In early 2017, Infrastructure Ontario (IO) began working with the Ministry of Finance, the Ministry of Housing and the Ministry of Infrastructure, on the design of the Provincial Affordable Housing Lands Program. The Provincial Affordable Lands Program was one of the measures included in the Government’s Fair Housing Plan, announced as a program to leverage the value of surplus provincial land assets across the province to develop a mix of market housing and new, permanent, sustainable and affordable housing. The program is being rolled out in a phased approach. IO, with its Broker of Record, CBRE, led the marketing of the identified sites. In April 2018, after a successful response from the market, the successful purchaser and leaseholder for the Phase 1 sites were announced.”
At the conclusion of this broker-led disposition process, Greenwin Corp. & Canadian Real Estate Investment Trust (CREIT)–now joined with Choice Properties REIT–were announced as the successful purchasers of the 26 Grenville and 27 Grosvenor site.
What currently exists at 26 Grenville & 27 Grosvenor?
On the site today, there is a vacant office building that was previously the Provincial Coroner’s Office, and a 3-storey parking garage. The intention of this project is to redevelop this site with a project that addresses important needs of the community.
Will the units in the buildings be for sale or for rent?
All units in the proposed buildings will be rental units and not for sale.
What definition of affordable rent is being used for this project?
The rent for the affordable units at 26 Grenville & 27 Grosvenor will be determined by following the City of Toronto’s definition for Affordable Rental Housing. The City of Toronto defines Affordable Rental Housing as “housing where the total monthly shelter cost (gross monthly rent, inclusive of utilities for heat, hydro, hot water and water) is at or below the lesser of one times the average City of Toronto rent, by dwelling unit type, as reported annually by the Canada Mortgage and Housing Corporation,” (i.e. Average Market Rent) “or 30 per cent of the before-tax monthly income of renter households in the City of Toronto.”
How much of the project will be affordable?
30% of the units are designated at affordable rents. The remaining 70% of the units will be at market rate rents.
How do I apply for an apartment rental?
We’re very excited to bring more rental housing options to the heart of Toronto – and we know you are too! However, it’s still too early in the process for us to consider applications. Please check back at a later date for all the latest updates on this project.
The affordable rental units will be allocated through the City’s Centralized Access for Affordable Rental Housing system as described in further detail here: https://www.toronto.ca/community-people/community-partners/housing-partners/affordable-rental-homes/
Is there currently a waitlist to rent an apartment at 26 Grenville or 27 Grosvenor?
No, there is not currently a waitlist. Please check back at a later date for all the latest updates on this project.
