Toronto rental renaissance: New apartments under construction hitting 25-year high

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Toronto is experiencing a rental ren- aissance with the number of new apartment units under construction hit- ting a 25-year high this year. There were 26 apartment buildings under construction in the Toronto area in the third quarter of the year, contain- ing more than 6,500 rental units, ac- cording to a new report by real estate market research firm Urbanation Inc. Developers have proposed another 43 rental buildings containing more than 10,000 units. Most of the build- ings are being developed in the city core, although the list of projects in- cludes several in the inner suburbs, such as Scarborough and North York, along with a handful in the 905 region as far afield as Newmarket and Ajax.

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