en.Wedoany.com Reported - Hazelview Investments and Sierra Corporation have launched a rental housing project in Toronto's Leaside neighborhood, planning to provide 217 rental units. Located at 383-389 Cleveland Street, the project is a 15-story purpose-built rental residential building.

The project will include 43 affordable housing units and 33 accessible units, with occupancy expected in 2028. Originally planned as condominiums, the project was converted to rental development due to changing market conditions and long-term confidence in rental housing.

The unit mix includes 52 one-bedroom, 89 one-bedroom plus den, 54 two-bedroom, 17 three-bedroom, and 5 three-bedroom plus den units, of which 76 are two-bedroom or larger. The project will provide approximately 8,500 square feet of indoor and outdoor amenity space. Indoor amenities cover 4,500 square feet, including a fitness center, wellness and yoga room, children's playroom, meeting room and co-working space, party room and lounge, and a dining room with a chef's kitchen. Outdoor amenities cover 4,000 square feet, featuring a lounge area with BBQ grills, resident gardens, outdoor work areas, children's play areas, and a dog run.

33 units are designed to CSA accessibility standards. The project targets the 2020 National Building Code of Canada Step 3 energy efficiency level and will utilize a geothermal mechanical system, marking the first time Hazelview Investments has applied this in a development.

The project is supported by the City of Toronto's Rental Housing Supply Program, including approximately CAD 5.4 million in funding and a 40-year property tax exemption valued at approximately CAD 1.8 million.

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