A new, big project on Eglinton may usher in the return of the co-op in a big way, writes Shawn Micallef for the Toronto Star.

“A massive co-operative rental housing project is coming to Scarborough (Ontario, Canada). Good news but so long-awaited it seems too good to be true. It’s real though and exactly the kind of development, both in affordability and scale, that is needed to help get us out of the housing crisis.

In total, three buildings with 918 homes are coming to a scrap of land at 2444 Eglinton Ave. E. One building will be market condominiums for purchase, while 612 units in the other two buildings will be rentals in the co-operative model, either with market rent-controlled or rent-geared-to-income prices. “Truly affordable,” as the saying goes.”

Read the full article, Are we entering a new era of the co-op? Let’s hope so, in the Toronto Star, 21 January 2024.

 

A proposed development at 2444 Eglinton Ave. E. designed by Henriquez Partners Architects for the city's CreateTO program, Windmill Development Group, and Civic Developments. The project will include co-ops, both market rate rent-controlled and rent-geared-to-income. Source: CreateTO

A proposed development at 2444 Eglinton Ave. E. designed by Henriquez Partners Architects for the city’s CreateTO program, Windmill Development Group, and Civic Developments. The project will include co-ops, both market rate rent-controlled and rent-geared-to-income. Source: CreateTO