TORONTO — Fengate Asset Management recently took part in the official groundbreaking for The Dennis, a purpose-built rental community located in the Mount Dennis neighbourhood of Toronto.
The Dennis is a LIUNA Pension Fund of Central and Eastern Canada project, built in partnership with Fengate and The Hi-Rise Group. It will deliver more than 448 new units, including 89 affordable homes and six rental replacement units, states a release.
It is one of the first projects approved through the City of Toronto’s Purpose-built Rental Housing Incentives Stream, which launched last year and aims to deliver over 7,000 new purpose-built rental homes, at least 20 per cent of which will be affordable rental homes for 40 to 99 years.
Projects selected under the program receive city benefits and federal financing to ensure construction start is reached.
As a transit-oriented community, The Dennis is located just steps away from the new Mount Dennis LRT station and is also near the Weston GO Transit station.
It is situated between the Humber River and Black Creek River and will feature amenities such as co-working spaces, a games room, theatre, lounges and event spaces.
The project is targeting LEED Gold certification and is adhering to the Toronto Green Standard for sustainable building design.
