Medallion Corporation plans to start four rental-housing projects containing 1,500 units in the Greater Toronto Area, according to a recent report.

Daily Commercial News reported that Medallion intends to develop six buildings altogether on four sites in Toronto and its Ajax, Ont.; and Oshawa, Ont., suburbs. The 591 Sherbourne project in Toronto will rank as the largest, rising 51 storeys and containing 532 suites.

Medallion also plans to construct to construct 178 units in a nine-storey apartment building at 3101 Bathurst in Toronto, according to the report. On Rossland Road East in Ajax, the company intends to create two eight-storey buildings with a total of 357 units; and at 135 Bruce Street in Oshawa, the firm is aiming for two rental buildings of 22 and 10 storeys containing a total of 509 units.

Rad Vucicevich, Toronto-based Medallion’s director of development and construction, told Daily Commercial News that the company is relying on shrewd land assembly, close consultation with long-time trade partners, collaboration with municipal partners on permitting and a variety of relatively new tax breaks and financing relief available from four levels of government.]

Vucicevich cited the federal government’s Apartment Construction Loan program and decision to scrap the G.S.T. on rental-housing projects, along with the Ontario government waiver of provincial tax on such developments, as game-changers for the company. He also lauded the province’s decision to cut development charges on rental projects and the City of Oshawa’s decision to offer tax incremental financing, according to Daily Commercial News.

“First of all, it comes down to land,” Vucicevich told Daily Commercial News. “We purchase land very well and very aggressively. And, we buy where others might not. For example, [we] make bigger projects where condo builders would not venture. We end up revitalizing that neighbourhood.”

Rendering: Medallion Corporation