Regent Park’s residential dwellings, prior to the ongoing redevelopment, were entirely social housing, and covered all of the 69 acres (280,000 m²) which comprise the community. The original neighbourhood was razed in the process of creating Regent Park. The nickname Cabbage town is now applied to the remaining historical, area north and west of the housing project, which has experienced considerable gentrification since the 60s and 70s.

More than a half-century old, the Regent Park projects were aging rapidly and in need of costly repairs. The city government developed a plan to demolish and rebuild Regent Park, with the first phase having started fall 2005.

The addition of market units on site will double the number of units in Regent Park. Former street patterns will be restored and housing will be designed to reflect that of adjacent neighbourhoods (including Cabbage town and Corktown), in order to end Regent Park’s physical isolation from the rest of the city. In support of the Clean and Beautiful City campaign by former Toronto Mayor David Miller and to further the goal of renewing architecture in all Toronto Community Housing projects, an architectural competition was held for the design of the first apartment building in the complex.

Toronto-based architects, Alliance was selected winner of the competition, with a modern glass point tower set on top of a red-brick podium structure in their proposal. While phase two had not yet been completed, the third stage of the revitalization plan began in May 2014, which will include newer or updated facilities.

The revitalization plan has five phases. Phase two of the revitalization plan was completed in 2018 with the third phase set to be completed by 2021/2022.