Ontario Backs Conversion of 2,200 Condo Units to Rental, Including 550 Affordable Homes

Ontario Backs Conversion of 2,200 Condo Units to Rental, Including 550 Affordable Homes

Photo: Urban Toronto A new provincial initiative is targeting the Greater Toronto Area’s housing supply by redirecting unsold condominium inventory into rental use. Announced yesterday, the Ontario government would commit $300M through the Building Ontario Fund (BOF), partnering with High Art Capital to support the conversion of approximately 2,200 condo units into long-term rental apartments. Of these, about 550 homes would be secured at below-…

High Art Capital launches $1.3-billion GTA rental housing fund targeting unsold condo inventory

Ontario Construction News staff writer High Art Capital has announced the launch of a new $1.3-billion investment initiative aimed at converting unsold condominium units into long-term rental housing across the Greater Toronto Area (GTA), in a move expected to deliver roughly 2,200 units in the near term. A submission portal is now open, with […] The post High Art Capital launches $1.3-billion GTA rental housing fund targeting unsold condo inven…