With most local developers concentrating on condominium projects, you'd be forgiven for thinking almost no one in Toronto gave a damn about building for the rental market. People who are either priced out of the buyers' market, or who just aren't interested in home ownership, have had to concentrate their home searches on older apartment buildings, split-up houses, or condos rented out by absent owners. Mississauga-based property-management firm Morguard are proving the exception: their new Forest Hill project, The Heathview, is scheduled for completion this July. The Heathview is the first purpose-built rental highrise to be built in Forest Hill in the last 40 years, but it's promising a condo vibe with a whole lot of condo-style amenities: party rooms, billiards rooms, a 24-hour concierge, fully-equipped health centres, and a swimming pool. They're big on green technology, too, with landscaping fed by a rainwater-capture system, LEED gold certification, and an on-site auto-share station (plus bike storage). The Heathview's two towers will have a variety of apartment configurations, ranging from 585sq.ft. studios to 2,400sq.ft. two-bedroom units. No price list yet; Curbed will keep you posted.
· An Updated Look at Morguard's 'The Heathview' [Urban Toronto]
· Rental Market Archive [Curbed Toronto]
· Report Warns of Excess Supply of Rental Units in Toronto [Globe]