Federal government pledges $289 million for colourful Toronto development

The federal government has pledged to contribute $289 million to build a colourful new Toronto development that will house hundreds of rental co-op homes.

Officials announced the funding commitment for the planned Kennedy Green Co-operative complex at 2444 Eglinton Ave. E. during a Friday ground breaking for the project.

Hailed as Canada's single-largest co-op build in over 30 years, the complex will include 612 homes in a colourful package designed by Vancouver-based Henriquez Partners Architects, which could prove one of the most interesting new buildings in town once realized. 

Outrageously colourful cluster of towers will be unlike anything else in Toronto https://t.co/s5qI7cRW8k

— blogTO (@blogTO) April 27, 2025

The significant funding commitment is part of the federal government's Build Canada Homes initiative, which aims to spur the construction of affordable homes and improve the national housing supply. Within this broader initiative, funding for the project is being sourced from the $1.5 billion Co-operative Housing Development Program (CHDP).

Salma Zahid, local MP for Scarborough Centre–Don Valley East, was on hand to announce the news on Friday, speaking on behalf of Gregor Robertson, Minister of Housing and Infrastructure. 

The Kennedy Green Co-op will make a real impact on lives for our community here in Scarborough, and it's another step forward in our bold, ambitious plan to build Canada strong," said Zahid. 

Zahid was joined during Friday's announcement by Mayor Olivia Chow and Scarborough Centre Councillor Michael Thompson.

Chow noted that the complex will stand as "the largest co-operative housing development in Ontario and one of the largest in Canada," and noted the CreateTO-led project on City-owned land was also made possible through an over $35 million investment by the City.

"We approved this project in record-breaking time and are delivering a more caring and affordable city," said Chow.