Affordable Rental Suites at 3030 Pharmacy Avenue
One bedroom, one plus den, two bedroom, two plus den, three bedroom and three plus den affordable suites will be ready for occupancy October 1st, 2025. This building is brand new at Finch and Pharmacy Avenues.
Please make sure that you review and understand the Eligibility and Frequently Asked Questions sections on this page before submitting an online Expression of Interest for Random Selection.
Please read the full eligibility criterion for Affordable Housing Rental Suites.
To qualify for an Affordable Housing Rental Suite, an applicant’s household annual net income cannot exceed four times the annual rent of the suite they are applying for.
Please see the table below for income limits for the Affordable Rental Suites at 3030 Pharmacy Avenue:
| Bedroom Size | * Monthly Rent (Including Utility Allowance Credit) |
|---|---|
| 1 Bedroom | $1,594 |
| 2 Bedrooms | $1,818 |
| 3 Bedrooms | $2,075 |
| Bedroom Size | * Monthly Rent (Excludes utilities) | Minimum Net Household Income per Year | Maximum Net Household Income Limit per Year |
|---|---|---|---|
| 1 Bedroom | $1273 | $15,276 | $61,104 |
| 2 Bedroom | $1467 | $17,604 | $70,416 |
| 3 Bedroom | $1648 | $19,776 | $79,104 |
* The rents are subject to rent increases as per Rent Increase Guidelines.
Income
Under the Affordable Housing Program, affordable housing rental units are given only to those households that meet the specified program income criteria before the household’s move-in date. Under the terms of our agreement with the City of Toronto, Park Property Management must confirm the applicant’s income is at or below the initial income limit.
This means that an applicant’s household’s net income must be at or below four times the annualized monthly rent for the affordable housing rental unit.
Monthly rent is the total monthly rent payable to Park Property Management for a suite. It does not include charges for utilities, parking, cable, internet, telephone or any other like charges.
Utilities (hydro, heat, water, and hot water) are not included in the monthly rent. Hydro, heat, water are separately metered and paid to the utility provider directly by the household. The monthly rent will be reduced by a utility allowance determined by the City of Toronto. This allowance is published on the City’s website.
Initial income limit means a household’s net income that is at or below four times the annualized monthly rent for the affordable housing rental unit that the household is applying for.
Calculation Guide
For affordable housing rentals, Park Property Management only documents and determines the household income once. This happens before the household moves into the affordable housing rental unit.
To calculate eligibility for, please refer to the following calculation guide:
If the rent is $1,500 per month, the maximum annual household income limit to be eligible for the unit is, $1,500 x 4 x 12 Months = $72,000. Therefore, the applicant’s annual household income must be at $72,000 or less to meet the income criteria for this example.
Note: The total household income is calculated by adding the income of all members of the household who are aged 16 years or older. Members who are attending a Recognized Educational Institution as a full-time student would be excluded from the household income.
Occupancy
The household must include a minimum of one person per bedroom, and couples must share a bedroom. No more than 2 persons per bedroom.
3030 Pharmacy Avenue
- 24 Affordable Rental Suites
- Smoke-free building
- 15 and 16 storeys
- Occupancy October 2025
- Parking is Available for $125 per space
- Lounge, party room, games room, co-work space, gym, yoga room, dog run, community garden plots
Building Interior Gallery
Building Exterior Gallery
Available Affordable Rental Suites:
One Bedroom: 4 Suites
View Sample Floor Plan [PDF]
One Bedroom Plus Den: 2 Suites
View Sample Floor Plan [PDF]
Two Bedroom: 12 Suites
View Sample Floor Plan [PDF]
Two Bedroom Plus Den: 1 Suite
View Sample Floor Plan [PDF]
Three Bedroom: 4 Suites
View Sample Floor Plan [PDF]
Three Bedroom Plus Den: 1 Suite
View Sample Floor Plan [PDF]
Use the online form before the deadline closes. The deadline to submit is September 30th, 2025 at 5pm. Expressions of Interest for Random Selection submitted after this deadline will not be accepted.
The online form must be completed in one sitting. Only one submission per household will be accepted. Duplicate or INCOMPLETE submissions will not be processed.
Park Property Management will not accept Expressions of Interest for Random Selection by email, mail or in person. To express interest in these units and to be considered for the random selection, you must submit a form through the online portal for the bedroom size that you would like.
Please select one of the forms below to submit your application:
One Bedroom/One Bedroom Plus Den Expression of Interest Form
The form must be completed in one session. All fields are mandatory.
Two Bedroom/Two Bedroom Plus Den Expression of Interest Form
The form must be completed in one session. All fields are mandatory.
Three Bedroom/Three Bedroom Plus Den Expression of Interest Form
The form must be completed in one session. All fields are mandatory.
Applicants will be assigned a random number. This number will be their place on the applicant list for this new building. The City of Toronto will provide oversight of the selection process to make sure it is fair.
- Applicants will be randomly assigned a position.
Once the deadline for the online Expression of Interest for Random Selection passes, applicants will be randomly assigned a position on the applicant list. - Applicants will be contacted in order.
After the applicant list is created, applicants with the lowest randomly assigned numbers [depending on the number of available suites] will be contacted first to start the eligibility review process. Once contacted, applicants will have three business days to respond with the completed Application and supporting documents for all household members listed on the Expression of Interest for Random Selection form. No extensions will be granted. Supporting documents include:
1.) Proof of Status in Canada
2.) 2024 Notice of Assessment
3.) Proof of Full Time Studies [if applicable]If you do not respond by the deadline, you will not be given another opportunity to apply for an Affordable Housing rental suite at 3030 Pharmacy Avenue.
- Approved Applicants are Notified
Approved applicants will be notified about which suites are available. They can then rank the units in order of preference. Park Property Management will try to offer applicants the suites they ranked as most desirable. There is no guarantee that applicants will receive their first choice. Approved applicants will be required to submit last month’s rent deposit within two business days of approval.
- Approved Applicants are offered a unit
Park Property Management can only offer suites to approved applicants. Applicants should not give notice to their current landlord unless they are advised by a Park Property Management leasing consultant that they have been approved.
- If the offer is declined
If the applicant declines the suite offered to them, the applicant will not be offered another suite at 3030 Pharmacy and will be removed from the applicant list.
Frequently Asked Questions
Where is this new building with affordable housing rental apartments?
The new building is located at 3030 Pharmacy Avenue, on the north west corner of Finch and Pharmacy Avenues. There are 2 buildings with 15 and 16 storeys.
When will this building open?
The building began taking in occupants in March 2025. Affordable Rental Suites will available for occupancy as of October 2025.
Why is Park Property Management holding a random draw for the Affordable Housing rental suites?
A random draw is a fair process for allocating affordable housing rental units. The random draw means that every eligible household will have an equal chance of renting a unit. Eligible households must have submitted a complete Expression of Interest for Random Selection form online during the collection period.
How does a random draw work?
After the collection period has ended, Park Property Management and the City of Toronto will oversee a process to randomly assign a number to each complete online Expression of Interest for Random Selection. The applicant list will then be sorted. Applicants with the lowest randomly assigned numbers will be contacted first to start the eligibility review process. This process will continue until approved applicants have accepted all units.
Will Park Property Management contact me once they have done the draw?
All applicants will be randomly assigned a number in the applicant list. Once that process is done, you will receive an email notifying you of your place on the list. Park Property Management will contact applicants with the lowest assigned numbers to start the eligibility review.
Is there parking at 3030 Pharmacy Avenue?
Yes, parking spaces can be rented at $125 per month. Electric vehicle charging spaces are $150 per month plus the cost of hydro.
What is a smoke-free building?
3030 Pharmacy will be a smoke-free building. This means that tenants will not be allowed to smoke and/or vape inside any of the suites, on the balconies or terraces, the indoor communal areas of the building, or outside near any entrances or exits to the building.
What makes these rental units affordable?
Affordable housing rental units are offered at 100% of the Average Market Rent (external link), as established by the Canada Mortgage and Housing Corporation and the City of Toronto.
Who is eligible to apply for these units?
At least one member of the applicant household must be at least 16 years old and have legal status in Canada. They must be either:
- a Canadian citizen;
- a permanent resident of Canada or an applicant for permanent resident status; or
- a refugee claimant or Convention refugee.
Applicants in Canada under a student/visitor visa or work permit are not eligible for an affordable housing unit under this program.
What information is needed to submit an online Expression of Interest for Random Selection?
Before you submit the online Expression of Interest for Random Selection, you will need to determine who will live with you in the unit if you are selected. You will need the following information for each household member:
- First and last name
- 2024 Notice of Assessment income information (Line 236) for household members receiving income
- Whether you own a residential property that can be lived in year-round
- Current rent amount and the date you moved in
- Landlord name and phone number for reference check
- Whether you have been pre-approved for a Rent Supplement
Note: Falsifying any information on your online Expression of Interest for Random Selection form will result in your submission being removed from the applicant list.
Will I receive confirmation when I submit my Expression of Interest for Random Selection?
Once you have submitted the online Expression of Interest for Random Selection form, you will receive an email with a confirmation number. Only complete submissions will receive a confirmation number.
Can I refuse the unit offered to me?
If you refuse the unit offered to you, we will remove your name from the applicant list.
I am already in an affordable housing rental unit at 3030 Pharmacy Ave. Can I apply for a transfer?
You may not transfer from one affordable housing rental unit to another. However, you may apply for other affordable developments once the one-year lease term for your current unit has expired.
What if my income is just slightly higher than the limit?
If your household’s income is higher than the income threshold outlined above, you are not eligible for an affordable housing rental unit.
If offered a unit, we will verify your income before you sign a lease.
I have no rental history. Am I still eligible?
Yes. We will take each individual case and circumstance into consideration.
Will I have an opportunity to view the unit?
No. You will have to base your decision on the unit floor plans and renderings shown to you.
Who can I contact if I have questions regarding submitting an Expression Of Interest (EOI)?
Please submit all inquiries to valuesuitesinfo@