The Growing Role of Mixed-Use, Purpose-Built Rental Developments in Bridging Toronto’s Housing Gap
As Toronto grapples with a housing shortage, the ‘missing middle’—housing types that fall between high-rises and single-family homes—has emerged as a key component in the city’s efforts to create balanced and affordable living options. This critical category addresses a gap in the market, providing alternatives for residents who need affordable housing options that still offer a community feel. As the city struggles with a shortage of affordable housing, mixed-use developments have emerged as a compelling solution to fill this void. These developments integrate residential spaces with commercial amenities, supporting local communities while also meeting the growing demand for purpose-built rentals.
Market Pulse
- More Canadian real estate investment trusts and developers are expanding their footprints in the multi-residential space via mixed-use developments. Mixed-use multires a growing sector for Canada’s developers
- Mixed-use zoning offers more than just increased housing supply. It fosters vibrant, interconnected communities where residents can live, work, and play within close proximity. Here is one under-developed solution to the GTA’s housing crisis
- “You want the professionally managed building, it’s going to be a better living environment, a better community. It’s not going to be this disbarred ownership, the offshore landlord…We talk a lot about service. We have dropped that dialogue of ‘condo style,’ we call it ‘hotel-inspired living.’” – KC Daya, CEO, Partner and Trustee, Clifton Blake. Episode 72: Toronto Under Construction Podcast
The Value of Mixed-Use Developments with Diverse Housing Options
As emphasized by The Toronto Star, addressing the missing middle requires rethinking urban development. Housing that falls into this category can offer residents access to well-balanced living spaces that blend affordability with convenience. According to RENX, mixed-use developments meet the needs of communities and investors by offering both residential and commercial elements that create resilience in changing market conditions. These projects reduce vulnerability by attracting steady foot traffic for retail spaces while ensuring high demand for residential units.
Feature Podcast: Episode 72: Toronto Under Construction
In a recent episode of Toronto Under Contruction, KC Daya, CEO of Clifton Blake, elaborates on the company’s unique focus on purpose-built rentals within mixed-use developments. He highlights the importance of integrating high-quality retail spaces directly with residential units, emphasizing how this approach not only enhances convenience for tenants but also fosters a strong sense of community.
“All of our buildings are mixed-use. Anchored by AAA retail on the ground floor. These are all long-term leases, AAA tenants, with escalations built in. So, it’s pretty well inflation hedged in our portfolio.”
Mixed-Use Developments: More Than Just Purpose-Built Rentals
Clifton Blake’s developments are designed to create live-work-play environments, embracing the “15-minute city” concept. This model is central to their projects, as it supports sustainable, self-sufficient communities where essential amenities are within walking distance. By prioritizing quality retail spaces alongside residential units, these mixed-use projects create valuable living environments that attract a diverse tenant base, from young professionals to families and retirees.
Purpose-built rentals are key to creating vibrant and sustainable neighborhoods. They provide long-term housing solutions that are professionally managed and resilient against market shifts. This focus on sustainable housing models, as highlighted by both RENX and The Toronto Star, offers a roadmap for developing urban spaces that benefit residents and investors alike.
How Purpose-Built Rentals Support Community and Investor Goals
As the Toronto Star article suggests, rethinking urban spaces to include purpose-built rentals can play a pivotal role in solving the housing crisis. Clifton Blake’s approach to mixed-use developments is a testament to this philosophy. By combining high-quality rental apartments with essential retail spaces, these projects not only meet the housing demands of today but also offer lasting value for investors. Purpose-built rentals are designed to be long-term solutions, providing stable, professionally managed housing options that remain resilient even as market dynamics shift.
The Junction: Under Construction
By filling gaps in the market and delivering projects that benefit both end users and investors, Clifton Blake is helping to shape a more resilient, accessible, and thriving Toronto.