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Federal $165M Low-Cost Loan Breaks Ground on Bull Tower in Downtown Toronto, 370 Rental Homes
The federal government is providing a $165-million low-cost loan through the Apartment Construction Loan Program for The Bull Tower at 128 Peter Street in Toronto's Entertainment District, delivering 370 rental homes.
Why it matters
The federal government is providing a $165-million low-cost loan through the Apartment Construction Loan Program (ACLP) for The Bull Tower at 128 Peter Street in Toronto's Entertainment District, which will deliver 370 rental homes. The groundbreaking was announced on October 16 by Spadina–Harbourfront MP Chi Nguyen on behalf of Housing Minister Gregor Robertson.
The details
The developer is Kingdom Development Inc. (CEO Jason Yang). The funding is a low-cost loan, not a grant, and forms part of the $55-billion ACLP, which aims to support 131,000 rental homes by 2031–32. As of June 2026, CMHC had committed $32 billion in ACLP loans supporting 81,918 rental homes.
Context
The project is part of the Build Canada Homes push for affordable rental construction. It shares the broader housing-supply agenda with the $2.7-billion federal–Toronto housing package announced in August, but is a standalone project groundbreaking.
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