Regent Park is a neighbourhood of Toronto, which was previously designated for public housing. This vibrant, multicultural community has recently begun a major rejuvenation program to redesign the neighbourhood, making it more modern and convenient for those who live there. Managed by the Metro Toronto Housing Authority, Regent Park is home to around 10,000 people. A multitude of real estate options now exist here for people of various income levels. Culturally diverse, Regent Park real estate attracts people from many international backgrounds. Regent Park also offers many opportunities for shopping, dining, and recreation, as well as options in education.
Built in 1949, in the district of Toronto formerly known as Cabbagetown, Regent Park is Canada’s oldest, and largest public housing project. Seated on 69 acres, Regent Park was designed to be a newer, more modern answer to the slum area of Cabbagetown; Regent Park real estate expanded throughout the second half of the 20th century. Located in the Old Town area, Regent Park is bounded by Gerrard Street to the north, Shuter Street to the south, and Parliament Street and River Street, to the west and east, respectively. Dundas Street East runs through the heart of Regent Park, dividing the neighbourhood; Regent Park South was developed in the 1950′s. Currently, Regent Park is undergoing a massive revitalization process, projected to cost around $1 billion, and to be completed over a 15-year period.
Regent Park real estate prices correlate to individual income, and housing choices are varied. Options for housing range from apartments in walk-up and high-rise buildings, townhouses, and row-houses. You will also start to see some new Regent Park real estate options as many condominiums and lofts are being built. Life in Regent Park is made convenient with retail and other businesses located on the main streets. Residents also enjoy a local community health centre, as well as other services to come, such as the Regent Park Art and Culture Centre, a new aquatic centre, a new community park, and the Regent Park Community Centre, which will include recreational and fitness facilities. Also nearby is the Parliament Street Library, and several public schools. Regent Park is a community on the upswing. Diverse and multicultural, Regent Park is poised for a new beginning.