275 Merton Street /Google Maps, June 2021
Toronto City Council has approved a partnership to build 447 new rental homes at 275 Merton St. in midtown Toronto, with at least 30% of these homes designated as affordable rentals. The City, through CreateTO, has teamed up with developer Collecdev-Markee to combine the City-owned property with an adjacent site at 267 Merton St. This combined site will be leased to Collecdev-Markee for 99 years, during which they will deliver and operate the new rental units. Construction is expected to start in the latter half of 2025, with occupancy beginning in mid-2028.
This initiative aims to address Toronto’s housing crisis by providing affordable and rent-controlled homes for low and moderate-income residents. The project supports the City’s HousingTO 2020-2030 Action Plan, which targets the approval of 65,000 new rent-controlled homes by 2030.
Full press release is here.
For more details, visit createto.ca/projects/275-merton-street and the City’s HousingTO 2020-2030 Action Plan.
