Purpose-Built Rental Initiative Adds Over 7,000 New Units in Toronto

Toronto’s Purpose-Built Rental Housing Incentives program has approved over 7,000 new rental units across 17 projects, marking significant progress toward the city’s housing goals. Designed to address supply shortages, the initiative offers developers financial incentives such as deferred development charges, tax reductions, and capital funding. With at least 20% of units designated as affordable for up to 99 years, the program supports long-term housing stability while encouraging further rental development in future phases.