Impressive Toronto proposal might actually be a place people can afford to live

Declining housing prices have, thus far, failed to bring Toronto homes back to a level where the average resident can afford to purchase, but even people just scraping by might soon be able to call this striking new development home.

CreateTO, an agency that manages the City's real estate assets, has applied to bring an impressive new complex to an underutilized site next to Fairbank Station on the still-unopened Eglinton Crosstown LRT.

The new two-building complex from Montgomery Sisam Architects at 9 Shortt St. (no, that isn't a typo) aims to transform a City-owned parking lot with a 41-storey tower and a six-storey mid-rise.

The August rezoning application comes roughly four years after the site was first identified as one of 39 potential affordable housing sites under City ownership in 2021 — part of a broader plan to leverage property assets and inject thousands of affordable rentals into the local housing market.

CreateTO revealed the design for the project this summer, noting the complex will be "a brand-new, transit-oriented community and affordable housing development in the Fairbank neighbourhood.​"

The proposal would introduce 458 residential rental units, with approximately 140 of these units to be designated as affordable rentals. According to CreateTO, "9 Shortt Street will also include accessible design features to support barrier-free spaces for people of all ages and abilities."

So, what constitutes affordable in this town?

These are the City's 2025 affordable monthly rents by unit size.

• Studio: $1,109
• One-bedroom: $1,404
• Two-bedroom: $1,985
• Three-bedroom: $2,257

Thanks to its proximity to the Eglinton Crosstown LRT (which, legend says, will someday open as the TTC's Line 5) a minimal parking component of just 42 spaces is planned within a single-level underground garage.

Residents would also have access to a nearly 1:1 ratio of units to bicycle parking, with 421 spaces planned for the project.

In addition to offering much-needed housing options, the project also aims to give back to the neighbourhood through the creation of a new mid-block connection carved through the site. 

This colourful space would divide the tower from the mid-rise while opening up the block with a pedestrian plaza.

The project was presented to local residents during a September community consultation, where the local councillor supported the proposal as a means to bring housing to the ward.

Based on details shared during that presentation, CreateTO expects to secure a development partner for the project in Fall 2026.

So, if you're feeling down about the housing market, just remember that a whole generation of cheap and stylish homes is on the near horizon.