Newmarket Rental Wins Big, Sets Blueprint for Housing Solutions

NEWMARKET, ON – January 14, 2026 – A purpose-built rental building in Newmarket is gaining widespread acclaim, not just for its design and amenities, but for representing a successful new model for urban development in a region grappling with a housing crisis. The Rose Corporation’s Bakerfield II has been honored with a trifecta of prestigious industry awards in 2025, signaling a major validation of its approach to creating high-quality, community-focused rental housing.

The project was recognized with the BILD Award for Best Purpose-Built Rental Project, the OHBA Award of Distinction for Best Mid-Rise Building, and the FRPO MAC Award for Rental Development of the Year. This sweep of accolades from the development, building, and rental provider industries underscores the project's comprehensive excellence.

“We are deeply grateful for this recognition from three highly respected industry organizations and our peers,” stated Daniel Berholz, President of The Rose Corporation, in a recent announcement. “After almost 45 years in business and over a decade of delivering purpose built rental communities, The Bakerfield II stands out as something truly special.”

A Trifecta of Industry Recognition

The awards received by Bakerfield II represent the highest honors in their respective fields. The BILD (Building Industry and Land Development Association) Awards are one of North America's largest and most prestigious programs, recognizing excellence in the GTA’s new home market. Winning “Best Purpose-Built Rental Project” places Bakerfield II at the pinnacle of innovation and quality in a highly competitive sector.

From the Ontario Home Builders’ Association (OHBA), the Award of Distinction for “Best Mid-Rise Building” acknowledges superior architectural design, sustainability, and efficient use of space for buildings between four and ten storeys. Finally, the Federation of Rental-housing Providers of Ontario (FRPO) MAC Award for “Rental Development of the Year” is the premier honor within the province's rental industry, celebrating creativity, suite design, and community amenities. Securing all three confirms the project’s success from initial design to resident experience.

The Blueprint for a Housing Solution

Beyond its architectural merits, the success of Bakerfield II is rooted in its innovative public-private partnership model. The project is the result of a multi-year collaboration between The Rose Corporation and three levels of government: the Canada Mortgage and Housing Corporation (CMHC), York Region, and the Town of Newmarket.

This partnership was instrumental in transforming a derelict 4.5-acre industrial site into a vibrant, master-planned community. Over eight years, the collaboration delivered over 800 new purpose-built rental and condominium homes, now occupied by more than 1,500 residents. The project effectively demonstrates how private sector efficiency can be aligned with public sector goals to address critical housing needs.

Federal support, primarily through CMHC’s Rental Construction Financing Initiative (RCFi)—now the Apartment Construction Loan Program—provided low-interest loans crucial for stimulating the construction of purpose-built rentals. This financing is designed for projects that are financially viable and offer affordable units, high energy efficiency, and accessibility. At the same time, York Region and the Town of Newmarket provided the strategic framework, including incentives, supportive zoning along the Viva Rapid Transit corridor, and alignment with long-term housing targets. Newmarket, for instance, has a municipal target to build 1,100 new rental units by 2031, a goal that the Bakerfield community directly supports.

This model is emerging as a critical tool at a time when traditional development is facing headwinds. While overall housing starts in the Greater Golden Horseshoe (GGH) were down significantly in 2025, purpose-built rental starts saw a robust 42% increase, indicating a strategic market shift that these partnerships are well-positioned to capitalize on.

Redefining Rental Living in a Strained Market

The Bakerfield II development arrives as a welcome addition to Newmarket’s strained housing market, which has long been characterized by vacancy rates hovering near 1% and a shortage of modern rental options. The project directly addresses this gap by offering 175 new suites with an impressive 55 different floor plans, ranging from one-bedroom to three-bedroom plus den layouts. Crucially, the development includes both affordable and accessible units, catering to a diverse range of household incomes and needs.

What truly sets the building apart is its focus on creating a community rather than just providing shelter. Residents have access to an extensive list of amenities that rivals high-end condominiums, including a golf simulator, co-working spaces, a yoga studio, a pet spa, and EV charging stations. Social spaces like a screening room, games lounges, and a fireside lobby lounge are designed to foster interaction. This community-centric approach is further enhanced by the building’s LEED Silver certification, an independent verification of its high standards in energy efficiency and environmental design. This not only reduces the building’s carbon footprint but also translates into tangible benefits for residents, such as lower utility costs and healthier indoor air quality.

The suites themselves are designed for modern living, with floor-to-ceiling windows, open-concept kitchens featuring quartz countertops, in-suite laundry, and ample storage. This commitment to quality and lifestyle is a significant departure from the aging rental stock that has dominated the market for decades.

A Model for the Greater Golden Horseshoe

The success of Bakerfield II provides a powerful case study for other municipalities across the Greater Golden Horseshoe, many of which face similar challenges of rapid growth and a severe housing affordability crisis. The project demonstrates that it is possible to build high-quality, sustainable, and financially viable rental communities that serve a mix of income levels.

For The Rose Corporation, Bakerfield II is a key part of a broader strategy focused on purpose-built rentals since 2014. With a portfolio of over 10,000 new homes and lots recently completed or under development, the company has established a track record of delivering transformative projects in secondary markets like Newmarket and Kitchener, as well as urban hubs like Toronto. By successfully navigating the complexities of public-private partnerships and delivering a product that has earned both market acceptance and critical acclaim, the Bakerfield community serves as a tangible blueprint for progress. As the GGH continues to grow, this model of collaborative, community-focused development will be essential to building the homes needed for a sustainable and prosperous future.