For those living in the brand new rental building at 25 Nicholas Ave., there are several amenities, including co-working spaces, an outdoor terrace and a fitness room. Steps away from the EVOLV building are the Regent Park Athletic Grounds, and the neighbourhood’s aquatic centre is a block away.
In what was once Canada’s biggest social housing neighbourhood, how did a unit for one reach this red-hot price? We spoke with our expert,This 360-square-foot studio includes a dishwasher and washing and drying machines, plus a city and park view, according to the listing on rentals.ca. The only utility included in the rent price is heating.
But what’s more is that even when compared to Toronto overall, this unit still comes out more expensive. Across the city, the average monthly price to rent a studio is $1,895 as of June — a 25 per cent increase since the same time last year,“The rental market is on fire right now,” Litchmore said. “That’s what they’re trying to get you on — the location and the finishes, the relative newness,” Litchmore said.Seeing a unit in Regent Park listed so high above market rate could be especially jarring considering the controversy surrounding the revitalization and gentrification of the area.
They should have increased density but the NIMBYs in the hood don’t like tall buildings and shadows. Textbook NIMBY case. BTW, Regent Park is a social housing success story. They integrated low income with market housing amd it works. Except for the NIMBY part.
Yeah no thank you My mortgage is less than this
Did people not realize the purpose for redeveloping Regent Park was always to enrich developers and politicians who approved this? Does anyone remember the bulldozers waiting outside the homes of people who refused to be uprooted day give up there unit and go to Scarborough?