ProjectEnd
Superstar
A document which reports two 'milestones' as being underway or completed which haven't yet commenced...
- Thread starter ferusian
- Start date
Northern Light
Superstar
Don't look at me, I just report the 'news', I don't edit or produce it............. (normally.... ) LOL
Demolition permit issued along with conditional (partial) shoring
ProjectEnd
Superstar
And we are underway here!
Towered
Superstar
Shorin’
70Challenger
Active Member
Unreal this is the same firm behind the Royal Bank Plaza and Scotia plaza.
Towered
Superstar
...and I just noticed that the post above mine has pictures - and here I was thinking I'm so clever by heaping another scoop on UT'ers.
Idiot!
1Ć0
Active Member
#purposebuiltrental #torontohousing #affordablehousing #purposebuiltrental #fengaterealestate #liuna #mountdennis #urbandevelopment #communitybuilding #sustainableliving | Fengate Asset Management
Weâre proud to announce the official groundbreaking ofâ¯The Dennis, a new #PurposeBuiltRental community in Torontoâs Mount Dennis neighbourhood â one of the first projects to break ground under the City of Torontoâsâ¯Purpose-built Rental Housing Incentives Stream. Built in partnership...
www.linkedin.com
and press release - https://fengate.com/news/fengate-breaks-ground-on-new-rental-tower-in-mount-dennis-neighbourhood/
SaugeenJunction
Senior Member
From the groundbreaking:
mferna
Active Member
New article featuring this project, read it here: https://urbantoronto.ca/news/2025/0...breaks-ground-near-mount-dennis-station.59360
HousingNowTO
Senior Member
Mayoral explainer via Instagram -
Midtown Urbanist
Superstar
I believe it is Fengate and partners who is building this site actually, Mayor Chow.
UtakataNoAnnex
Senior Member
^She's also operating that shoring rig... <3
HousingNowTO
Senior Member
"Municipal contributions toward The Dennis are supported through the City’s Purpose-Built Rental Housing Incentives Stream, valued at roughly $29 million. The package includes a permanent deferral of development charges and a 15% property tax reduction for the market rental suites, along with a full exemption from fees, charges, and property taxes for the affordable units over a 40-year term."
The Mayor made a meaningful contribution to get this specific project un-stuck in 2025.
Midtown Urbanist
Superstar
That's all very nice and much needed on every development site.
However, the City is not putting their own equity and risk into the project. They are just not getting in the way of the project as much with the fees they charge. If it were a CreateTO site, or if they were taking on ownership and management of the affordable units, that would be different story.