The condo may no longer be king: Purpose-built rental units are making big splash in Toronto

Purpose-built rentals are emerging as a strong alternative to condos in Toronto, driven by rising demand, population growth, and new government incentives. Modern rental developments now offer amenities comparable to — or exceeding — condo standards, while prioritizing durability and long-term management. With thousands of units under construction and more in the pipeline, these projects are reshaping the city’s housing landscape and giving renters greater security and convenience compared to traditional condo rentals.