The Ontario government in its $178-million investment in Scarborough Junction LP and its assets The Ontario government in its $178-million investment in Scarborough Junction LP and its assets

On June 3, 2026, the Ontario government announced that it is investing $178 million through the Building Ontario Fund. This will support the construction of approximately 1,700 new rental homes, including a target of 340 affordable units with below–market rents, in Scarborough.

The investment is the first material equity investment of its type and involved significant, complex affordability and governance arrangements. 

The Scarborough Junction project is a 26.23-acre, multi-phase, mixed-use community expected to include up to 14 residential towers, up to 7,655 residential units, approximately 200,000 square feet of ancillary commercial and retail space, community amenities and open spaces, and direct integration with the Scarborough GO Station through a proposed new station entrance and connected pedestrian and cycling routes. The joint venture contemplates a minimum affordability requirement for Phase 1 of at least 20% of all residential units, with affordable units to remain affordable for no less than 40 years.

Building Ontario Fund is an independent, board-governed Crown agency that leads private and institutional investment into revenue-generating infrastructure projects through Ontario.

Osler, Hoskin & Harcourt LLP advised Building Ontario Fund with a team consisting of Ricco Bhasin, Kai Sheffield, Tina Mirzaei and Jameel Manji (Corporate PE Infrastructure); Savvas Kotsopoulos and Dakota Secours (Real Estate); David Davachi and Alan Kenigsberg (Tax); Jennifer Fairfax and Shelby Wilson (Environmental); and Chris Barnett (Regulatory).