Daniels First Home Markham Sheppard
Daniels Markham & Sheppard
May 7, 2020
Regent Park Revitalization Update

Regent Park Revitalization Update

Toronto’s thriving East End is complemented by a fantastic revitalization that’s been going on for many years, known to many as the Regent Park Revitalization. This redevelopment has been a work in progress since 2006 and is a partnership between the Daniels Corporation and Toronto Community Housing Corporation (TCHC). To call this project a massive success would be an understatement. Daniels and TCHC have achieved what many thought to be impossible – to transform an impoverished neighbourhood where once no-one even considered stepping foot in, into a vibrant community that many people today, are Regent Park Revitalization Renderingproud to call home.

If you are picking up on what’s happening in Regent Park and in Downtown East just now, you’re a little behind. For the past 2-3 years Regent Park has really turned the corner and rounded into form. Many people are starting to realize that in order to have a good neighbourhood, a few key features are required – great retail, plenty of neighbourhood amenities, a large park, variety of different housing options, pedestrian walkways, good transit access, bike lanes and schools. The truth is, nowadays Regent Park has all of the above.

Today, Regent Park’s amenities include a new 6-acre park (Regent park never actually had a park believe it or not) including an off-leash dog park, children’s play area, Pam McConell Aquatic Centre. Daniels Spectrum, MLSE Athletic Grounds with basketball courts, turf soccer pitch, running track and an ice rink with changerooms. There is now a “Sumach by Chartwell”, which is an active retirement residence, located right across from the MLSE field. This residence is home to many retirees with rents being in line with downtown market value. Retail presence has never been stronger in Regent. There are now RBC & Scotiabank Bank branches, Shoppers Drug Mart, FreshCo Grocer, Rabbas Fine Foods, Enterprise Rent-a-Car, F45 Fitness & a barbershop. When the hunger strikes, food options include Wendys, Subway/Yogen Fruz, two Tim Hortons locations, KIBO Sushi, Le Beau Croissanterie, Sultan of Samosas, and the Paintbox Bistro. I assure you that with buildings coming to Dundas and River, the retail component will only strengthen and there are very exciting new tenants already secured.

Since the start of the Revitalization Daniels has completed many market condominiums, including One Cole & 25 Cole (1/25 Cole Street), Paintbox Condos (225 Sackville Street), One Park West Condos (260 Sackville Street), Bartholomew Condos (200 Sackville Street), One Park Place North and South Towers (170 Sumach Street & 55 Regent Park Boulevard), Wyatt Condos (20 Tubman Avenue), DuEast Tower (225 Sumach Street) and DuEast Boutique (34 Tubman Avenue), Artworks Tower (130 River Street) and Artsy Boutique (35 Tubman Avenue).

In addition to high-rise housing, Daniels successfully included low-rise market living in the form of towns located on Cole Street, Bartholomew Avenue, Sutton Avenue, and River Street. Sutton Towns are the most high-end & spacious out of the bunch with sizes over 3,000 sqft and a hefty pricetag to boot. The Fieldhouse EcoUrban Towns are the newest townhomes that are also incorporating new technologies such as solar panels, high efficiency heat pumps and triple glazed windows for a LEED Gold Standard.

EVOLV market rental building is nearing completion and will begin occupancies shortly. This is a rental building that will remain in the Daniels portfolio of purpose-built rentals.

Lastly, 1,263 brand-new subsidised housing units have been built over the past 15 years, bringing new homes to those who need it most.

Regent Park Phases of RevitalizationIn total, Daniels has revitalized 53 of the 69 acres of Regent Park. The remaining 16 Acres are located in Phase 4 & 5 and on December the 15th 2020 have officially been awarded to Tridel. Yes, TCHC have decided to award the remaining portion of the revitalization to a different developer. A bold move, but could be a positive one. A new developer will bring a new vision, new execution style and new buyers. The latter is what interests me the most. I expect Regent Park to see a different buyer enter the community. Tridel is well-known for their Asian buyer and there will be lots of Asian money coming into Regent park over the coming years. I expect this to boost neighbourhood values further. Regent Park is posed to see tremendous property appreciation over the coming decade. To those who already own here – hold your real estate, and to those who are looking to invest – do so sooner rather than later.

For Additional Information Regarding Regent Park Revitalization You Can visit the Toronto Housing Website – https://www.torontohousing.ca/capital-initiatives/revitalization/Regent-Park/Pages/default.aspx