Media coverage, announcements and press mentions from across Canada's purpose-built rental industry.
CTV News
Report on purpose-built rentals in GTA paints dire picture on future housing conditions
A new report highlights a worsening shortage of purpose-built rental housing across the Greater Toronto Area, projecting a deficit of over 235,000 units within the next decade. While recent policy changes and incentives have supported construction, rising development costs, declining rents, and financing challenges are threatening future supply. Industry experts warn that without stronger government action at all levels, rental development could slow significantly, intensifying affordability pressures and reshaping the region’s long-term housing outlook.
Canada’s rental market is entering a period of adjustment in 2025, with increased supply leading to declining advertised rents in major cities like Toronto and Vancouver. However, affordability continues to worsen as turnover rents drive higher overall costs for tenants. Slower migration and weaker job markets are softening demand, while vacancy rates are expected to rise. Despite short-term relief from new supply, sustained rental development remains essential to meet long-term population growth and housing needs.
Purpose-built rental tower projects heat up as Toronto condo market stays cool
Toronto is seeing a rise in purpose-built rental (PBR) towers as the condo market slows and housing demand intensifies. A proposed 57-storey tower near Dundas and University highlights this shift, offering over 700 units in a prime downtown location. Supported by government incentives and faster approvals, developers are increasingly turning to rentals as a long-term investment strategy. While financing challenges remain, PBR projects are expected to become a dominant model for new residential construction in the coming years.
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.
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