Helping transform Toronto's rental housing market
August 18, 2025
For the first time in over a generation, Scarborough is witnessing the launch of a major purpose-built rental housing development, as Oxford Properties broke ground on a new $750 million initiative at Brimley Road to deliver critically needed housing to a historically undersupplied area.
The project is one example of the work Oxford – the real estate arm of OMERS – is doing to help transform Toronto and Ontario’s housing landscape.
"This generational project signifies a model we hope to replicate across Canada in the years to come," says Daniel Fournier, Executive Chair at Oxford Properties, as groundbreaking ceremonies in July marked the beginning of something extraordinary.
When vision meets action
The story begins with a simple recognition: families deserve quality housing options at a variety of different price points. This development, situated on 3.4 acres on the west side of Oxford’s Scarborough Town Centre, isn't just another project; it's the largest single-phase rental development currently under construction in Toronto.
The development will deliver 1,285 purpose-built rental units across three residential towers, with 268 designated as affordable housing. This intentional design is meant to serve people across different income levels, age groups, and family structures.
The collaboration that made this possible demonstrates what happens when vision aligns with commitment. Oxford secured a record-setting $650 million loan through the federal government’s Canada Mortgage and Housing Corporation's (CMHC) Apartment Construction Loan Program. This is the largest single loan CMHC has approved in Toronto through this program.
Scarborough—Woburn MP Michael Coteau attended the July groundbreaking on behalf of the Government of Canada and applauded the effort by Oxford and OMERS.
Tyler Seaman, Oxford Properties Executive Vice-President, Head of Canada, thanked CMHC and recognized the efforts of all governments.
“At OMERS and Oxford, we are committed to making a meaningful contribution to Canada's housing crisis. We are leaning in when others are leaning out,” Seaman told the crowd gathered for the groundbreaking.
He added that building quality real estate projects in Toronto and around the world is part of Oxford’s commitment to supporting OMERS pension promise.
“Delivering for pension members is our ‘North Star,’” Seaman said.
More than just housing
The development, named Alta, reflects thoughtful community building. The 1,285 homes will offer 51 studios, 693 one-bedroom, 411 two-bedroom and 130 three-bedroom units, including 23 townhomes. But Alta goes beyond providing shelter; it's designed to create connections.
Extensive amenities include outdoor lounge areas, co-working spaces, a children's playroom and fitness facilities. A new 22,000 square foot public park will serve not just residents, but the broader Scarborough community. Environmental stewardship is woven throughout, with a geothermal heating and cooling system that will reduce energy use by 55% and greenhouse gas emissions by 74%.
A transit-connected future
Location matters, and Alta's positioning near Scarborough Centre TTC station, which is serviced by both TTC and GO Transit, with the future Scarborough Subway Extension on its way, demonstrates forward-thinking urban planning. This connectivity ensures residents can easily access opportunity across the Greater Toronto Area.
As Blake Hutcheson, President and CEO of OMERS, notes: "This development puts our members' dollars to work right here in Ontario in a project supported by federal funding, helping maximize the province and City of Toronto's substantial investment in rapid transit to Scarborough. It will help deliver returns for our members, while also improving housing choice in a community that so many of them proudly call home and serve.”
The Bigger Picture
Alta marks the first development within Oxford's master plan for Scarborough Town Centre. The multi-decade vision encompasses over 10,000 residential units across 89 developable acres, supporting Scarborough's evolution as a thriving urban hub.
Alta is about recognizing Scarborough's potential and investing in that future. When completed by summer 2029, it will serve as proof that bold partnerships between government and private sector can deliver meaningful solutions to address Canada's housing challenges.
Toronto Mayor Olivia Chow captured this collaborative spirit: "We are stronger together, working with the Government of Canada to create more affordable homes in Scarborough to meet the needs of our growing city."
Deputy Mayor Paul Ainslie attended the groundbreaking and applauded the fact that the area is undergoing "transit transformation with housing at its centre."
Building Community
By breaking ground on this project, Oxford is establishing new community gathering spaces and demonstrating that large-scale housing solutions are achievable when stakeholders commit to working together.
As construction progresses over the next four years, Alta will stand as a testament to what's possible when vision, partnership and commitment converge. For Scarborough families who will soon call Alta home, this groundbreaking marks the beginning of a new chapter, one built on community, sustainability and opportunity.