Toronto, April 21, 2022 (GLOBE NEWSWIRE) -- TORONTO, April 21, 2022—Toronto Community Housing Corporation (TCHC) and Tridel Builders Inc. have filed a rezoning submission with the City of Toronto, requesting an increase in the density of development in the Regent Park Phases 4 and 5 lands. The increased density will enable TCHC and Tridel to build 1,000 more units of housing than previously planned for, and add thousands of square metres of gardens, retail and community space.
If approved, this rezoning will do more than create affordable homes and new community spaces. It will maximize the value of public assets to create prosperity for the residents of Regent Park, Cabbagetown, Moss Park and St. James Town. As well, it will strengthen the Downtown East neighbourhood as a thriving and vibrant community for all Torontonians to use and enjoy well into the 22nd century. To underinvest in the potential of Regent Park is to risk the opportunity for a transformed community and a thriving neighbourhood for future generations.
This rezoning submission was developed in close consultation with community members. In more than 1,500 resident interactions, TCHC and Tridel used surveys, virtual community meetings, focus groups and engagement with community organizations to develop a plan that centres the vision that Regent Park residents have for their community. Repeatedly, residents expressed strong support for a plan that creates more homes, beautiful urban green space and world-class amenities. If approved, this rezoning will deliver the plan that residents have asked for.
The Phases 4 and 5 lands are bordered by Gerrard Street and Oak Street to the north and south, and River Street and Dreamers Way to the east and west. In 2014, a plan was approved that included 564 rent-geared-to-income (RGI) units as part of the plan to replace 2,083 TCHC-operated RGI units in Regent Park. Also included were 3,465 square metres of commercial space for businesses and 1,353 market units.
The rezoning submission, supported by Tridel, comes on the heels of strong government support for new affordable housing. If approved, the rezoning could add the following to the already approved 2014 plan:
- More than 500 additional TCHC-operated RGI or affordable units
- 1,792 additional market units
- 4,454 square metres of additional commercial and retail space
- 3,525 square metres of new community and cultural space
- A new Toronto Public Library
TCHC and Tridel’s plan is a transformative roadmap that would complete the exceptional work started by the Daniels Corporation, making Regent Park a premiere example of successful revitalization. Whether it is top-notch athletic facilities, a glittering new library or a prosperous new high street with micro-retail, local business and fresh food markets, Regent Park can be a destination where everyone is welcome. With the support of all three levels of government, Regent Park can be a living legacy of progress, sustainability and—above all—empowered residents.
QUOTES:
“As Regent Park phase 4 and 5 moves forward we welcome the creation of a new complete community with the inclusion of social housing stock and affordable housing that our City so crucially needs."
—Deputy Mayor Ana Bailão, Chair of the Planning and Housing Committee
"There's tremendous excitement and expectation in the local community as the iconic Regent Park Revitalization moves into the final stage of planning. An independent rezoning process informed by strong community input will ensure additional public and private investments continue to flow into this award-winning neighbourhood. I look forward to the opportunities for collaboration and the continued public consultation in the days ahead."
—Councillor Kristyn Wong-Tam, Ward 13 Toronto Centre
“I’m delighted that plans are in place to relocate the Parliament Street branch into Regent Park and to build a new library as a part of Phases 4 & 5 of Toronto Community Housing Corporation’s development. We are looking forward to collaborating and consulting with the community to ensure the new branch includes the appropriate library services and programs to meet the needs of the community.”
—Vickery Bowles, City Librarian, Toronto Public Library
“In today’s climate, where housing affordability is on the minds of all Torontonians, this rezoning submission is an opportunity to house hundreds of families in new rent-geared-to-income and affordable housing. Beyond housing, our plan is a potential turning point for our city, where we can decide to help keep Toronto affordable. I am grateful to The Daniels Corporation for starting this project, excited to be working with Tridel Builders to realize our vision and optimistic about the support of the City of Toronto to bring this plan to life.”
— Jag Sharma, President and CEO, TCHC
"Tridel is excited to be a strategic partner for such an important initiative. We are thrilled to be working closely with both Toronto Community Housing and the City of Toronto to support the need to build housing throughout the city. The Regent Park revitalization of Phases 4 and 5 is a long-term partnership focused on providing innovative, actionable solutions to affordable housing. We look forward to continue engaging with the community to bring their vision of Regent Park to life. As a homebuilder, the rezoning application is an important milestone that aligns with our commitment to deliver quality, sustainable homes to Toronto residents and families."
—Dino Carmel, CEO, Tridel Group
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