In yesterday’s Toronto Star article, it was stated that Toronto’s population growth was projected to hit 7.08 million by 2035, while housing starts are expected to fall well short of demand, putting upward pressure on prices and rents. Our CEO and Founder, Adrian Rocca, quoted in the article, emphasized the importance of purpose-built rentals: “Because purpose-built rentals are not sold once built, the issue around quality is contingent on the developer and remains our liability. It’s also why you see bigger units—because that’s what people want to live in.” At Fitzrovia, we are committed to creating communities designed for long-term living, offering spacious, high-quality homes with amenities that support a balanced, active lifestyle. From larger suites that cater to families and those needing extra space, to resident-centric programming like our third-wave 10 DEAN café and leading early childhood education through Bloomsbury Academy, we ensure our communities are more than just places to live—they’re places to grow. As the housing supply crisis deepens, additional government incentives will be crucial to making purpose-built rentals a viable solution for Toronto’s future. #PurposeBuilt #PurposeBuiltRentals #Fitzrovia #CanadianRentals #RentalLiving #RentalHousing
When I spoke to the @TorontoStar I highlighted how purpose-built rentals are designed and built for the long term, offering vibrant communities where people can live for decades—not just stepping stones to home ownership. It’s about investing in high-quality, durable construction and finishings to create homes and amenities that last for decades. We can’t rely on condo investors to ensure rental supply keeps up with demand—it’s not sustainable, it won’t meet the needs of Toronto’s booming population and they don’t buy units appropriate for family living. It’s clear we are heading toward a steep supply drought, and now more than ever, we need to build larger rental suites with two or three bedrooms. Places where people actually want to live. We are doing that at Fitzrovia. What would help across the board? Additional government incentives to make the economics of purpose-built rentals more viable. #PurposeBuiltRentals #HousingSolutions #CommunityBuilding #TorontoGrowth #SustainableHousing https://lnkd.in/g9ENBPga