TORONTO, ON, May 25, 2026 — Mayor Olivia Chow joined Castlepoint Numa and Hazelview on Friday to break ground on 72 Perth Avenue, a new 18-storey purpose-built rental building in Toronto’s Junction Triangle.
Photos from the groundbreaking are available here.
The development will deliver 255 rental homes, including 51 affordable units (one-in-five), in one of the city’s most connected and walkable neighbourhoods. WoodGreen Community Services will serve as the project’s Affordable Housing partner. Construction is underway, with occupancy targeted for 2028.
72 Perth Avenue focuses on quality design, neighbourhood compatibility, and long-term affordability. The building prioritizes family-sized suites, a segment chronically undersupplied in Toronto’s rental market, especially in transit-connected neighbourhoods.
Mayor Chow was joined at the ceremony by Davenport MP Julie Dzerowicz, City Councillor for Ward 9, Davenport, Alejandra Bravo, representatives from Castlepoint Numa and Hazelview, as well as investors and capital partners, and members of the project team. She praised the development for offering 51 affordable suites as well as a large number of two-and three-bedroom units that will be able to comfortably house entire families.
About 72 Perth Avenue
72 Perth Avenue will rise 18 storeys above a four-storey podium, delivering 255 residential units ranging from one to four bedrooms for long-term residents. Residents will have access to approximately 13,000 sq. ft. of indoor and outdoor amenity space, including a fitness centre, pool, sauna, games room, children’s playroom, coworking space, guest suites, and dedicated bike storage and repair facilities, with direct access to the West Toronto Rail Path. Rooftop amenities sit on the 19th floor, with additional outdoor patios on the 4th, 5th, 15th, and 17th floors.
The 51 affordable homes are fully integrated throughout the building, with the same finishes, amenities, and design quality as every other suite, and will remain affordable for 40 years.
The building targets Tier 3 of NECB 2020, supported by an on-site geothermal system, targeting a 50% reduction in energy consumption and an 80% reduction in greenhouse gas emissions versus baseline. All common areas and suites meet CSA standards for barrier-free visitability.
A Neighbourhood Built Around Mobility
72 Perth Avenue sits at the southern part of the Junction Triangle, with a Transit Score of 100, a Walk Score of 97, and a Bike Score of 97. Residents are a five-minute walk from Bloor GO Station, the Bloor UP Express, and Dundas West TTC, and from Bloor Street West’s retail and restaurant corridor.
A Long Commitment to This Neighbourhood
Castlepoint acquired the broader development site in 2008, led remediation of a former industrial property, and shaped the mixed-use district now anchored by Castlepoint’s heritage Automotive Building and the T3 office campus, owned by Hazelview. After extensive community consultation on 72 Perth, Toronto City Council approved the final zoning amendment in May 2025. Demolition completed in December 2025 clearing the way for construction to begin.
Supporting Toronto’s Housing Goals
72 Perth was selected as one of 17 projects approved under the City of Toronto’s Rental Housing Supply Program (RHSP), which provided funding for the 51 affordable homes. This alignment of private, City, and Federal support made a building of this calibre, with this depth of affordability and sustainability, possible. The development also directly supports the City of Toronto’s HousingTO 2020-2030 Action Plan, which targets 40,000 new affordable rental homes by 2030. WoodGreen will manage the affordable homes for the project.
“This is a project that will continue to strengthen the vibrancy, energy, and future of this incredible neighborhood. it's also a powerful example of what can be achieved when the public and private sectors come together with shared purpose and long-term perspective.”
Michael Williams
Managing Partner & Chief Development Officer at Hazelview
