Brampton has seen plenty of condos, townhomes and detached homes rise as the city grows, but a local builder is now putting its money into something the city has been short of for years \u2014 purpose-built rental housing.<\/p>\n
Primont has broken ground on a new 14-storey, 298-suite rental building at Mississauga Road and Sandalwood Parkway, launching a new division of the company called Primont Rental Living.<\/p>\n
The project is significant in a city where purpose-built rental construction has been relatively rare. Brampton says only about two per cent of new developments over the past decade have been purpose-built rental housing, while the city\u2019s rental vacancy rate has remained below three per cent for years, indicating strong demand and limited supply.<\/p>\n
That shortage has left many Brampton renters looking to the secondary market, including condominiums and basement apartments, for a place to live. The city has even introduced incentives aimed at encouraging more purpose-built rental construction.<\/p>\n
Primont\u2019s first rental project is also notable for its focus on families.<\/p>\n
The building will include a range of suite sizes, with a significant number of three-bedroom units. Primont says it is also working with the Canada Mortgage and Housing Corporation (CMHC) to make a substantial portion of the homes more attainable.<\/p>\n
\u201cLaunching Primont Rental Living is an important milestone for our company,\u201d Primont president Joe Montesano said. \u201cWe see a growing need for quality rental housing that gives families more choice.\u201d<\/p>\n
Construction is scheduled to begin this year.<\/p>\n
For Primont, the project represents a new direction for a company with more than 50 years of experience building communities across the GTA. The family-owned developer says it has built more than 7,000 homes, with experience ranging from high-rise developments to townhomes, detached homes and master-planned communities.<\/p>\n
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The company has particularly deep roots in Brampton, where its projects have included MontVert, M Condos and Chateaus.<\/p>\n
Primont is also preparing to launch another Brampton project this fall. Cornerstone, scheduled to launch in October, will feature three- to five-bedroom townhomes and detached homes.<\/p>\n
The rental project, however, could fill a different and increasingly important role as Brampton tries to provide housing for people who cannot or do not want to buy.<\/p>\n
The city\u2019s housing research identifies a shortage of purpose-built rentals, multi-bedroom rental units and affordable housing options for large families, among others.<\/p>\n
And while the broader GTA rental market has seen some easing, with the purpose-built vacancy rate reaching three per cent in 2025, Brampton\u2019s long-term shortage of purpose-built rental housing remains a significant issue.<\/p>\n
Primont says the Mississauga Road project is only the beginning. The company plans additional purpose-built rental developments across the GTA, including future phases in Brampton.<\/p>\n
For a city accustomed to seeing new housing built primarily for ownership, the first Primont Rental Living project offers something different: hundreds of new homes intended from the outset to remain rental housing.<\/p>\n