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(John Rieti/CBC) Rekai and Options bought the grassy field from the province at market rate following seven years of negotiations.
To understand how much that rate has changed, when Options for Homes built some of its first condos in 2001 — buildings now smack in the middle of the Distillery District — they sold for ,000.
TORONTO, ON - SEPTEMBER 30: Meghan Markle and Prince Harry are seen on day 8 of the Invictus Games Toronto 2017 on September 30, 2017 in Toronto, Canada.
"As land prices have gone up we've had to sharpen our pencils and get a lot more creative about how we deliver the housing," said Options CEO Heather Tremain.
Health Minister Eric Hoskins, on hand for the announcement, called the partnership "bang on," and said he's hoping Toronto's local health network will be able to provide services so every senior in the building can age in place. Pam Mc Connell also voiced her support, saying she hopes it will be able to open soon.
Precincts: Oct 17, 2017 Sidewalk Labs and Waterfront Toronto announced today “Sidewalk Toronto,” their joint effort to design a new kind of mixed-use, complete community on Toronto’s Eastern Waterfront.
Sidewalk Toronto will combine forward-thinking urban design and new digital technology to create people-centred neighbourhoods that achieve precedent-setting levels of sustainability, affordability, mobility, and economic opportunity.