A purpose-built rental development may be bringing an injection of affordable rental stock to Leslieville. realestate rental Toronto realestatenews
to 1.7% in 2022, underlining the need for more dedicated rental stock in the city. As such, a purpose-built rental development, recently proposed for a site in Leslieville, comes at a good time.
The proposal outlines plans to intensify the site — described in the application as being “largely vacant” save for two detached houses on its easterly edge — by adding two new purpose-built rental residential complexes: a seven-storey “sculpted” building, occupying the majority of the site with frontage on Sears Avenue, and a four-storey building fronting Laing Street.
The planning rationale prepared in support of the application also states that the developer is exploring opportunities to make around 20% to 30% of the units affordable.To take full advantage of the neighbouring Maple Leaf Park, balconies are proposed along the south facade on the second floor and up, inset balconies are proposed along the north facade on the second to fourth floors, and terraces are slated for floors five, six, and seven.
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