Largest co-op housing development in decades breaks ground
AI Article Summary
The largest cooperative housing development in Canada in over 30 years has begun construction in Toronto. The federal government supports Kennedy Green with a $289 million investment. This project will deliver 612 new affordable and market rent-controlled co-op units in Scarborough, forming the largest purpose-built non-profit rental co-op in the country. Construction of the first two towers is expected to complete by 2029.
What This Means for Canadian Contractors
This project shows how significant federal investment can stimulate large-scale cooperative housing developments, addressing long-term housing affordability and security. For Canadian builders, this means more opportunities in the non-profit sector, which could require navigating specific funding and regulatory frameworks. The construction timeline until 2029 could also impact labor and supply chain planning, making careful project management crucial.
