Canada’s federal government is providing over $112 million in funding for the construction of a new 217-unit multifamily property in Toronto.
Located at 389 Cleveland Street, the project is a 15-story residential building with a ground-floor commercial retail unit. The residential units are designed for families, young professionals, and downsizers, and the building’s amenities include fitness and wellness spaces, co-working areas, gardens, play spaces, and community gathering areas.
No timeline was provided on when the property will begin accepting tenants.
“Our government is committed to driving housing supply to bring down costs,” said Gregor Robertson, minister of housing and infrastructure and minister responsible for Pacific Economic Development Canada, in a statement. “This project will create more rental homes for people living and working in Toronto and is an example of what’s possible when we work together in partnership with the private sector. This is another step forward in our bold, ambitious plan to build Canada strong.”
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