On May 22, 2026, Mayor Olivia Chow joined Castlepoint Numa and Hazelview to break ground on 72 Perth Avenue, a new 18-storey purpose-built rental building in Toronto’s Junction Triangle.

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.

https://www.72perth.com/

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.

“Projects like 72 Perth help the people who work in this city afford to live in this city. Nurses, teachers, transit workers, artists, small business employees and families who keep Toronto moving should be able to build their lives here. With more family-sized rental homes, affordable units and homes close to transit, this project is part of our work to make sure Toronto remains a city where working people can stay, raise a family and belong,” said Mayor Olivia Chow, City of Toronto.

“Not so long ago this was a vacant, contaminated industrial site that most people walked past without a second look, and today we are breaking ground on 255 new homes. What makes me proudest is that one in five of those homes, 51 suites, will be designated affordable for the next 40 years, and they will be fully integrated throughout the building, with the same finishes, the same amenities, and the same quality of design as every other suite. Affordable should never mean lesser,” said MP Julie Dzerowicz.

“This is an important milestone for the Davenport community. These new homes will help more people stay in the community they contribute to — close to their work, schools and support networks. Rental projects like this that include affordable housing units help ensure our neighbourhood remains inclusive and accessible,” said Councillor Alejandra Bravo, Ward 9, Davenport.

“I think everyone understands the difficulty in delivering new housing today in our market. Through programs like the city's rental housing supply program that has unlocked this project, we're delivering much needed rental housing convention and a meaningful amount of affordable housing, but what we're so proud of is that we’re doing so without compromising on design,” said Jeff Brenner, Partner at Castlepoint Numa.

“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,” said Michael Williams, Managing Partner & Chief Development Officer at Hazelview.

About Castlepoint Numa

Founded in 1988, Castlepoint Numa is an industry-leading full cycle real estate development firm dedicated to creating positive change. Our work is distinguished by an unwavering commitment to community, collaboration and reverence for the people and neighbourhoods we serve. With a globally recognized portfolio of ambitious, cutting-edge properties, we’re known for our focus on heritage re-use, brownfield and waterfront revitalization, and mixed-used developments. Learn more at castlepointnuma.com.

About Hazelview Investments

Hazelview Investments Inc. is a global real estate investment firm with more than 25 years of experience and over $10 billion* in assets under management. Our strategically integrated investment platform gives investors single-point access to both private and public market opportunities. Through our range of in-house investment, development, and property management capabilities, our goal is to deliver repeatable risk-adjusted returns for our clients.

We provide a diversified range of real estate investment solutions -- including equity and debt strategies across public and private markets -- to institutions and consultants in strategic markets around the world. These solutions are delivered through separately managed accounts and a variety of fund structures, tailored to investor jurisdiction, investment size, and strategy. Guided by deep expertise, data-driven insights, and an ownership approach to investment, we actively aim to create and enhance value for investors, partners, and communities. Learn more at hazelview.com.

About WoodGreen

WoodGreen is a Toronto-based community organization that empowers individuals and families through housing, employment, wellness, and youth services, fostering stronger, inclusive communities.

Image (left to right): Councillor Alejandra Bravo, Mayor Olivia Chow, MP Julie Dzerowicz, Jeff Brenner, Partner at Castlepoint Numa, Michael Williams, Managing Partner & Chief Development Officer at Hazelview.

Image: Jeff Brenner, Partner at Castlepoint Numa

Image (left to right): Mwarigha, Vice President of Housing Services at WoodGreen Community Services, Mitchell Robins, Development Manager at Castlepoint Numa, James Manley, Vice President of Constructions at Castlepoint Numa, Jeff Brenner, Partner at Castlepoint Numa, Fazi Jalali, Vice President of Planning & Development at Castlepoint Numa, Harley Valentine, Partner at Castlepoint Numa