TORONTO — Broccolini has announced is it moving forward on The Riv, a 37-storey mixed-use residential building in Toronto.
The project will deliver over 350 purpose-built rental units in the city’s downtown-east corridor. Construction is expected to begin in the coming months, with completion targeted for 2029.
According to a release, the build was originally introduced as a condominium development.
It has since been repositioned as purpose-built rental following a study period and design refinement to align the project with evolving market conditions and growing demand for long-term rental housing.
The change resulted in a reduced unit count and new homes that are larger.
The site sits within walking distance of the future Ontario Line and close to the planned East Harbour transit hub and employment district.
The development will incorporate a geothermal energy system to and Broccolini will also develop a new publicly accessible park as part of its broader efforts in the neighbourhood, the release reads.
“Toronto’s downtown east continues to emerge as one of the city’s most dynamic growth corridors,” said Phil Brennen, vice-president, real estate development at Broccolini. “We strongly believe in the long-term potential of this neighbourhood. Repositioning The Riv as purpose-built rental allows us to move forward with a project that responds to Toronto’s evolving housing needs while reinforcing our commitment to building in the city.”
