72 Perth Ave. purpose-built rental housing development in Toronto’s Davenport neighbourhood — The 72 Perth Ave. development will bring 255 new rental homes to Davenport, including affordable family-sized units near transit and the Railpath. (image source: X / @CityofToronto)

72 Perth Ave. Expands Family Rental Housing in Davenport

As Toronto continues to face mounting affordability pressures, one of the city’s biggest housing challenges remains the shortage of purpose-built rental homes.

In Davenport, a new development at 72 Perth Ave. is aiming to address that gap.

The City of Toronto, alongside development partners Castlepoint Numa and Hazelview, has officially broken ground on a new purpose-built rental development that will deliver 255 rental homes, including 51 affordable rental units. The project is expected to be completed by the end of 2028.

More importantly, the development reflects several housing priorities Toronto increasingly needs more of:

purpose-built rentals,
family-sized housing,
transit-oriented communities,
and long-term affordability commitments.

A Focus on Family-Sized Rental Housing

One of the most significant aspects of the project is its emphasis on larger units.

Nearly half of the homes planned for 72 Perth Ave. will be:

two-bedroom,
and three-bedroom apartments.

That matters because family-sized rental housing remains one of the most limited housing categories in Toronto.

Too often, families searching for affordable rental options face difficult choices:

leave the city,
downsize into inadequate spaces,
or spend unsustainable portions of their income on housing.

Projects like 72 Perth Ave. attempt to address that gap by providing larger rental units close to schools, transit, and employment areas.

Long-Term Affordable Housing Commitments

Under the City’s agreement with the development partners, 20 per cent of the building’s homes will remain affordable for 40 years and will be managed by WoodGreen Community Services.

That long-term affordability component is particularly important.

In Toronto’s current housing environment, preserving affordability over decades—not just years—has become increasingly critical for:

workforce stability,
community retention,
and long-term housing security.

The affordable units are intended to support low- to moderate-income households, helping ensure working residents can continue living in the communities they help sustain.

Public Incentives Driving Rental Construction

The project is being supported through Toronto’s Rental Housing Supply Program (RHSP), which helps accelerate the construction of purpose-built rental housing.

To support the project, the City committed approximately:

$16.5 million in capital funding and financial incentives, including:
- deferred development charges,
- property tax reductions,
- and waived planning and permit fees for affordable units.

Programs like RHSP are becoming increasingly important as municipalities look for ways to encourage rental construction during a challenging economic and financing environment.

Housing Near Transit and Active Transportation

The location of 72 Perth Ave. also reflects Toronto’s growing emphasis on transit-oriented housing.

The development will feature:

direct access to the West Toronto Railpath,
bicycle storage and repair facilities,
and proximity to transit infrastructure.

This approach aligns with a broader urban planning shift toward creating “complete communities” where residents can live closer to:

transit,
employment,
schools,
and daily amenities.

Sustainability Becoming a Housing Standard

The building will also incorporate a geothermal energy system designed to reduce emissions and improve energy efficiency through ground-source heating and cooling.

As Toronto pushes toward its climate targets, sustainability features are increasingly becoming part of new housing policy conversations.

Developments that combine:

affordability,
density,
and low-carbon design

may become increasingly important models for future city-building.

Why This Matters for Toronto

Projects like 72 Perth Ave. demonstrate that solving Toronto’s housing crisis requires more than simply increasing unit counts.

The city also needs:

family-sized homes,
long-term rental supply,
affordable units near transit,
and developments designed for long-term community stability.

Purpose-built rental housing is becoming one of the most important pieces of Toronto’s housing strategy because it creates stable homes rather than speculative investment properties.

And for many residents, stable rental housing may ultimately determine whether they can continue building their lives in Toronto at all.

A Model for Future Growth

The development at 72 Perth Ave. reflects the kind of housing Toronto increasingly needs to prioritize:

rental-focused,
transit-connected,
family-oriented,
and sustainability-driven.

As housing pressures continue to reshape the city, projects like this may help determine whether Toronto remains a place where working families can continue to afford to live, work, and grow.

Keys to the City is GTA Weekly’s ongoing look at how housing policy, affordability, and community planning are shaping the future of Toronto—and communities across Ontario.

Because building housing is only part of the challenge. Building complete communities is the real goal.

🏙️ Keys to the City: Building Family Rental Housing Near Transit

The new purpose-built rental development at 72 Perth Ave. highlights how Toronto is increasingly focusing on family-sized housing, long-term affordability, and transit-oriented communities.