Ontario Construction News staff writer
It will be the first ground-up purpose-built housing development for the KingSett Affordable Housing Fund. Phase one includes 494 units – 172 affordable. Initial occupancy for Phase 1 of Valhalla Village is expected in the third quarter of 2026.
BDP Quadrangle is the lead architect. Reliance Construction Group will lead the construction of the project, and Purpose Building Inc. provided sustainable design services to the development with three towers and one mid-rise building, with a total of 1,135 homes.
“Breaking ground at Valhalla Village is a critical first step in KingSett’s ambitious goal of developing a portfolio of affordable housing that leads the industry in terms of depth, product design, and sustainability,” said Jeff Thomas, group head, development at KingSett Capital. “The location and scale of Valhalla Village presents a compelling opportunity to create purpose-built affordable housing at a critical time for the local community.
“We are very excited to be moving ahead with this extraordinary development.”
The development is designed to be net-zero carbon through geothermal heating and is on track to achieve the Canada Green Building Council’s Zero Carbon Building – Design (ZCB) Standard™ certification in 2024.
The site, which will also include a community agency space and public park, is zoned to allow for a second phase to be constructed at a later date.
KingSett has secured construction financing through the federal government’s Apartment Construction Loan program, previously known as the Rental Construction Financing Initiative (RCFi). Through the City of Toronto’s Open Door program, Toronto City Council approved financial incentives, such as property tax and development charge exemptions and permit fee waivers, to support affordable housing at this site.