North York neighbourhood to get 159 new rental homes
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New rental building in Bedford Park made possible by federal program
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To provide Canadians with increased access to affordable and sustainable housing, the government is supporting the construction of 159 new rental homes with an investment of over $81.5 million through the Apartment Construction Loan Program (ACLP).
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Located at 3101 Bathurst Street, Vivant at Bedford Park will be developed by Medallion Corporation.
The nine-storey building will feature “a thoughtfully designed, purpose-built rental apartment complex offering individuals and families tenancies in a modern, energy-efficient environment,” says its developer.
The nine-storey building will feature “a thoughtfully designed, purpose-built rental apartment complex offering individuals and families tenancies in a modern, energy-efficient environment,” says its developer.
The site is located close to public transit, restaurants, bakeries and shops within the vibrant North York community. Construction is underway and expected to be complete by the Fall of 2027.
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“The federal government is committed to catalyzing housing supply to bring down costs. This project will create more rental homes for people living and working in Toronto and is an example of what is possible when we strive for housing ambition,” says Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada .
“The CMHC’s ongoing commitment to the Apartment Construction Loan Program is essential to building affordable rental homes, which this community and Toronto desperately need. We’re thrilled CMHC has partnered with us on Vivant on Bedford Park, an apartment that will offer residents affordability, energy efficiency, accessibility and connections to transit,” says Scott Cryer, CFO at Medallion Corp,
The APCL is part of the National Housing Strategy (NHS) , a 10+ year, $115+ billion plan to build more affordable homes.
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