Ads Google

Brampton to get first purpose-built rental build in 17 years

by Neil Sharma on 21 Jun 2021

Brampton is getting its first purpose-built rental apartment building in nearly two decades, thanks to a joint venture between Daniels Corp. and Choice Properties.

The project, Mount Pleasant Village, named after nearby Mount Pleasant Go Station, is a sprawling master-planned community with a 26-storey rental tower—Brampton’s first in 17 years—36 stacked townhomes and a six-storey mid-rise condominium building.

Amy Chan, VP of development, design & engineering at Choice Properties, says it’s a head-scratcher that Brampton has gone so long without new rental stock, given how quickly it’s growing and years of strong demand. At 26 storeys, Mount Pleasant Village’s rental component can at least try to make a dent.

“We found there was quite a lot of demand,” she said. “There’s always a need in the GTA for rental housing, and at the end of the day we saw an opportunity to be integrated into the community long-term. The site is exceptional—you see it with the GO Station across the street, which is beautifully designed, and the development’s proximity to transit makes it a fantastic site."

“For people who can’t afford to purchase, they still have an opportunity to access transit and all the services that are close by, including the community centre and skating rink up the street. It’s a little bit of an oasis away from the city. I think it’s something for people who can’t afford to live in Toronto but can still afford to rent here.”

According to Dil Banga, a sales agent with Royal LePage Flower City Realty who works in Peel Region, the paucity of new rental buildings in Brampton hasn’t gone unnoticed. He noted that the site is near the proposed (and contentious) Highway 413, which will span Halton Hills, Brampton and Vaughan before connecting to Highway 400, indicating that the area is sure to see additional development.

“Daniels made a wise decision because that section of land has Mount Pleasant GO Station there, so having accessibility in and out of Brampton, and being close to the 400-series highway, was their end goal. People can live and work there,” he said. “Rents are cheaper in Brampton than they are in downtown Toronto, but you can still get downtown in 45 minutes.”

More development is sure to follow. The City of Brampton’s planning and development website has designated Mount Pleasant Village an “urban transit village.”

“The Village is centred around a landmark public amenity complex – a cultural and education centre including a community centre located within a reconstructed Brampton train station (the former downtown CPR station), a library and a two-storey elementary school sharing facilities with the library and community centre. At the heart of the Village is the public square framed by a three-storey row of live-work units that are accommodating commercial and service space.”



Post a Comment



Most Trending News

Canadian buyers returning to major cities, expecting to spend more: BMO survey
News

The survey shows that buying a home in a major city centre has risen 5% since last year.

Read More
Hiking development charges will only make homes more unaffordable
News

The more time and money a developer spends navigating the extensive labyrinth of procedural processes, the costlier it becomes to build a new home.The more time and money a developer spends navigating the extensive labyrinth of procedural processes, the costlier it becomes to build a new home.

Read More
Upcoming Multifamily Conference offers investors unmatched opportunities to learn, network and grow
News

Coming to Toronto May 14-15 is an in-person event discussing multifamily investing and the benefits it can have for new and experienced investors.

Read More