Phase 1 — Purpose-Built Rental at 9320 Goreway Drive
A comprehensive market feasibility analysis for a proposed 326-unit, 26-storey rental tower in one of Canada's fastest-growing cities.
Population
791K
2024 — Statistics Canada
Median Age
36
Youngest large city in Canada
Brampton East Vacancy
3.5%
CMHC Zone 22, Oct 2025
Avg 2-Bed Rent
$2,032
Brampton City — CMHC 2025
01
Subject Site — Phase 1 PBR
A three-phase master-planned community on Goreway Drive. Phase 1 delivers a 26-storey purpose-built rental tower with 326 units, followed by two condominium towers in subsequent phases.
Architectural rendering and plans by Kohn Partnership Architects Inc. Three-tower master plan at 9320 Goreway Drive, Brampton.
Master Plan — Three Phases
Total project: 969 residential units + 17,000 sq ft office/retail across all phases.
Phase 1 — Key Metrics
Development Details
- Address
- 9320 Goreway Drive, Brampton, Ontario
- Architect
- Kohn Partnership Architects Inc.
- Master Plan
- 3 Towers — Phase 1 PBR, Phase 2 & 3 Condominiums
- Phase 1 Type
- Purpose-Built Rental (PBR)
Parking & Amenities
- Phase 1 Vehicle Parking
- 511 spaces (494 res. / 17 visitor)
- Bicycle Parking
- 250 stacked spaces
- Amenity Space
- 3,600 sq m total (1,421 sq m indoor / 2,179 sq m outdoor)
Nearby Amenities
- Bramalea City Centre (5 min drive)
- Trinity Common Mall
- Claireville Conservation Area (540 acres)
- Toronto Pearson International Airport
- Highway 410, 427, 407 access
Location & Nearby Amenities
Interactive map showing 9320 Goreway Drive and key amenities within the surrounding area, including transit, schools, shopping, parks, and highway access.
Subject site shown in teal. 25 km comparable search radius shown as circle overlay.
02
Rental Market Analysis
The Brampton rental market is characterized by low vacancy rates and high demand, creating a significant opportunity for new purpose-built rental development. All data below is specific to Brampton and the Peel Region.
Vacancy Rates — Year-over-Year
CMHC Rental Market Survey, 2-Bedroom — Oct 2024 vs Oct 2025
Rental Rate Comparison
Brampton City vs Brampton East vs Projected New PBR ($/mo)
CMHC Average Rents — Brampton Zones
October 2025 vs October 2024, Purpose-Built Rental Stock
| Zone | Studio | 1-Bed | 2-Bed | 3-Bed+ |
|---|---|---|---|---|
| Brampton East (Zone 22) | $1,320 | $1,770 | $1,993 | $1,879 |
| Brampton West (Zone 21) | $1,510 | $1,782 | $2,058 | $2,343 |
| Brampton City | $1,430 | $1,778 | $2,032 | $2,046 |
| Peel Region | $1,303 | $1,754 | $2,013 | $2,051 |
Note: These are average rents for existing PBR stock. New PBR buildings typically command a 15–25% premium over existing stock.
Source: CMHC Rental Market Survey, October 2025
"Only 744 new purpose-built rental units were created in Brampton over the last decade — against a backdrop of 26,000+ registered secondary rental units and 250,000+ new residents."
Source: City of Brampton 2025 Housing Needs Assessment
03
Demographics & Demand
Brampton's rapid population growth, young demographics, and immigration-driven demand create an exceptionally strong foundation for rental housing. The city requires an estimated 15,000+ new PBR units by 2031 to meet provincial housing targets.
Brampton Population Growth
Historical and projected population (Statistics Canada, Brampton Official Plan)
Canada's Fastest-Growing Large City
Population grew 17% from 656,480 (2021) to 791,486 (2024). 250 cultures, 171 languages spoken. AAA credit rating from S&P Global.
Estimated PBR Units Required in Brampton
Brampton committed to building 113,000 new homes by 2031 under provincial housing targets. With only 11,457 existing PBR units and 744 new units added in the last decade, the city faces a severe rental housing deficit. Based on the 2025 Housing Needs Assessment, an estimated 15,000–20,000 new PBR units are needed by 2031 to address the gap — supported by the city's DC Incentive Program allocating 4,000 units at reduced or zero development charges.
City of Brampton 2025 Housing Needs Assessment15K+
PBR units needed by 2031
Key Demand Drivers
+17%
growth 2021–2024
Rapid Population Growth
Brampton is the fastest-growing large city in Canada, surpassing Mississauga as Ontario's third-largest city. Population grew 17% from 656,480 (2021) to 791,486 (2024).
36
median age
Young Demographics
With a median age of 36, Brampton has one of Canada's youngest populations — a prime renter demographic driving demand for modern rental housing.
52.9%
born outside Canada
Immigration-Driven Demand
Over 52.9% of residents were born outside Canada. New immigrants are a significant source of rental demand, especially in the first 5–10 years after arrival.
744
new PBR units in 10 years
Severe PBR Shortage
Only 744 new PBR units were created in the last decade despite adding ~250,000 residents. 60% of new rental supply came from basement ARUs, indicating massive unmet demand.
3.6
avg household size
Large Household Sizes
Average household size of 3.6 persons drives demand for larger 2 and 3-bedroom rental units — a segment underserved by most new PBR developments.
100%
max DC reduction
DC Incentive Program
Brampton offers up to 100% DC reduction for PBR projects with 4,000 units allocated, significantly improving development economics for qualifying buildings.
Brampton Economic Snapshot
226K
Estimated Jobs
110,000+
Registered Businesses
$6.8B
Construction Value (3yr)
AAA
S&P Credit Rating
04
Comparable Properties
A survey of new and recent purpose-built rental and condominium rental projects within a 25km radius of the subject site, benchmarking unit mixes, sizes, and rental rates.
Story of Brampton Central
2 Nelson St W, Brampton, ON L6X 1B7Developer
Hazelview Properties
Storeys / Units
12 st. / 340 units
Size Range
700 – 1,200 sq ft
Rent PSF
$3.20 – $3.50
2 months free rent on select suites
The Manett Urban Rentals
40 Sunny Meadow Blvd, Brampton, ON L6R 3Y6Developer
LiUNA / Fengate
Storeys / Units
10 st. / 288 units
Size Range
692 – 1,170 sq ft
Rent PSF
$3.30 – $3.50
Up to $200 off rent for 14 months
CityPointe Heights
8863 The Gore Rd, Brampton, ON L6P 0B1Developer
Poetry Living / HBNG Holborn / TACC
Storeys / Units
35 st. / 658 units
Size Range
450 – 900 sq ft
Rent PSF
$3.56 – $4.00
Parking, Wi-Fi, Gas, A/C included in some listings
Developer
QuadReal
Storeys / Units
35 st. / 560 units
Size Range
546 – 1,115 sq ft
Rent PSF
$3.80 – $4.20
2.5 months free rent, 1 year free parking
Church & Main
2 Chapel St, Brampton, ON L6W 2H4Developer
LiUNA / Fengate
Storeys / Units
35 st. / 400 units
Size Range
TBD
Rent PSF
TBD
LEED Gold target, completion 2029
CastlePointe Luxury Rental
9280 Goreway Dr, Brampton, ONDeveloper
PRG MFT
Storeys / Units
25–30 st. / 1015 units
Size Range
TBD
Rent PSF
TBD
1,015 units across 3 phases, completion 2028–2033
Comparable Summary
Rents are based on asking rents as of February 2026 and may not reflect net effective rents after incentives. Click property names to view on Google Maps.
| Property | Type | Status | Size Range | Rent PSF | Distance |
|---|---|---|---|---|---|
Story of Brampton Central 2 Nelson St W, Brampton, ON L6X 1B7 | Purpose-Built Rental | Now Leasing | 700 – 1,200 sq ft | $3.20 – $3.50 | 8.5 km from subject site |
The Manett Urban Rentals 40 Sunny Meadow Blvd, Brampton, ON L6R 3Y6 | Purpose-Built Rental | Now Leasing | 692 – 1,170 sq ft | $3.30 – $3.50 | 14.2 km from subject site |
CityPointe Heights 8863 The Gore Rd, Brampton, ON L6P 0B1 | Condominium (investor-rented units) | Completed 2025 — Leasing Up | 450 – 900 sq ft | $3.56 – $4.00 | 3.2 km from subject site |
Brightstone 7070 Saint Barbara Blvd, Mississauga, ON L5W 0E6 | Purpose-Built Rental | Now Leasing | 546 – 1,115 sq ft | $3.80 – $4.20 | 18.5 km from subject site |
Church & Main 2 Chapel St, Brampton, ON L6W 2H4 | Purpose-Built Rental | Under Construction | TBD | TBD | 8.5 km from subject site |
CastlePointe Luxury Rental 9280 Goreway Dr, Brampton, ON | Purpose-Built Rental | Planning (OPA/ZBA) | TBD | TBD | Adjacent to subject site |
05
Recommended Unit Mix — Phase 1
Based on the analysis of market demand, demographic trends, comparable properties, and the KPA Suite Study by Kohn Partnership Architects, the following unit mix and sizing is recommended for the Phase 1 PBR tower (326 units).
326
Total Units
Phase 1 PBR
| Unit Type | % Mix | Units | Size Range (sf) | Projected Rent |
|---|---|---|---|---|
Studio | 3% | 10 | 375 – 449 | $1,650 – $1,800 |
1-Bedroom | 27% | 89 | 450 – 519 | $2,100 – $2,300 |
1-Bed + Den | 28% | 91 | 520 – 619 | $2,250 – $2,500 |
2-Bedroom | 19% | 62 | 620 – 699 | $2,500 – $2,750 |
2-Bed + Den | 12% | 38 | 700 – 819 | $2,700 – $2,950 |
3-Bedroom | 11% | 36 | 820 – 1,000 | $2,900 – $3,200 |
| Total | 100% | 326 | 375 – 1,000 | Avg ~$2,415/mo |
Unit Size Distribution
Weighted average unit size of 620 sq ft. Unit sizes based on the KPA Suite Study by Kohn Partnership Architects, with configurations ranging from compact 375 sf studios to family-sized 1,000 sf 3-bedrooms.
Analyst Note — Studio Addition
The architectural plans show 0% studios. Based on market demand analysis — particularly the young median age (36), immigration-driven rental demand, and comparable projects like CityPointe Heights and Brightstone offering studio units — we recommend allocating approximately 3% (10 units) to studios. This captures the entry-level renter segment while maintaining the family-oriented mix that Brampton's demographics require.
06b
Financial Pro Forma — Phase 1
Projected rental revenue, operating expenses, and net operating income based on the recommended 326-unit mix and current market rents. All figures are stabilized Year 1 estimates.
Revenue by Unit Type
| Unit Type | Units | Avg Size | Rent Range | Midpoint | Monthly Rev | Annual Rev |
|---|---|---|---|---|---|---|
| Studio | 10 | 420 sf | $1,650 – $1,800 | $1,725 | $17,250 | $207,000 |
| 1-Bedroom | 89 | 475 sf | $2,100 – $2,300 | $2,200 | $195,800 | $2,349,600 |
| 1-Bed + Den | 91 | 565 sf | $2,250 – $2,500 | $2,375 | $216,125 | $2,593,500 |
| 2-Bedroom | 62 | 675 sf | $2,500 – $2,750 | $2,625 | $162,750 | $1,953,000 |
| 2-Bed + Den | 38 | 750 sf | $2,700 – $2,950 | $2,825 | $107,350 | $1,288,200 |
| 3-Bedroom | 36 | 940 sf | $2,900 – $3,200 | $3,050 | $109,800 | $1,317,600 |
| Total Residential | 326 | $809,075 | $9,708,900 | |||
Income & Expense Summary
Revenue to NOI Waterfall
Key Assumptions
Projections based on stabilized Year 1 operations. Rents benchmarked against CMHC Zone 22 data (Oct 2025) and comparable new PBR asking rents. Operating expenses based on industry benchmarks for new PBR buildings in the GTA.
06
DC Incentive Program
The City of Brampton has introduced a development charge incentive program specifically for purpose-built rental projects, significantly improving development economics.
DC Reduction by Unit Type
Brampton Municipal Development Charges — PBR Incentive Program (4,000 units allocated)
View Official Program Guidelines| Unit Type | DC Reduction | Base DC Rate | Savings / Unit |
|---|---|---|---|
| 1-Bedroom | 50% | $23,628 | $11,814 |
| 1-Bed+Den / 2-Bed | 75% | $38,395 | $28,796 |
| 3-Bed / 2+Bed Mixed | 100% | $38,395 | $38,395 |
Program Timeline
Effective immediately until November 14, 2026. Applications must be submitted before the deadline.
Regional DC Reduction
Peel Region has also reduced regional residential DCs by 50% (July 10, 2025 – Nov 13, 2026), further improving project economics.
Total DC Impact
Total includes Peel Region, GO Transit, and education levies.
Source: City of Brampton / Councillor Santos07
Conclusion
The market for new purpose-built rental housing in Brampton is exceptionally strong, supported by robust demographic and economic fundamentals. Phase 1 of the 9320 Goreway Drive development is well-positioned to achieve rapid lease-up.
"The proposed Phase 1 PBR tower at 9320 Goreway Drive — 326 units across 26 storeys — is well-positioned to capitalize on Brampton's severe rental housing deficit and achieve rapid lease-up at or above market rental rates."
Key Takeaways
Brampton is the fastest-growing large city in Canada, growing 17% from 656,480 to 791,486 residents between 2021 and 2024
Severe shortage of PBR stock — only 744 new units in the last decade despite adding ~250,000 residents. An estimated 15,000+ new PBR units are needed by 2031
Young median age (36) and large household sizes (3.6) create strong demand for diverse rental unit types, from studios to 3-bedrooms
Brampton East (Zone 22) vacancy rate of 3.5% remains healthy, with average 2-bed rents at $1,993 and new PBR commanding a 15–25% premium
DC incentive program offers up to 100% reduction for 3-bedroom units (4,000 units allocated), significantly improving project economics
Recommended Phase 1 unit mix of 326 units across 6 unit types with projected average rent of ~$2,415/mo and weighted average size of ~598 sq ft
Sources & References
[1] CMHC Rental Market Survey, Toronto CMA — October 2025
[2] Urbanation — GTHA Rental Market Data, Q4-2025
[3] City of Brampton 2025 Housing Needs Assessment
[4] Invest Brampton Economy Fact Sheet, January 2026
[5] Brampton GeoHub — Population & Dwelling Profiles
[6] Statistics Canada — Census 2021, Brampton Profile
[7] City of Brampton — PBR DC Incentive Program Guidelines
[8] Councillor Santos — PBR Incentive Program Overview
[9] Apartments.com — CityPointe Heights, Brampton
[10] QuadReal — Brightstone, Mississauga
[11] The Manett Urban Rentals — Brampton
[12] Hazelview — Story of Brampton Central
[13] KPA Suite Study — Kohn Partnership Architects Inc.
[14] 9320 Goreway Dr Concept Package — Kohn Partnership Architects / ATRIA Development
[15] Phase I Project Summary — ATRIA Development, April 2025
Phase 1 PBR — Market Research Proposal
9320 Goreway Drive, Brampton, Ontario
Prepared by: Harsh Pabla, PRG Corp. | Manus AI
February 2026 — Data current as of Q4 2025