Condo builders to fund $1-million Bixi expansion

A Toronto councillor has convinced three condo developers to build new Bixi stations in her ward if the city waives parking space requirements, the Toronto Star reports.

The paper said Coun. Kristyn Wong-Tam got Canderel, DiamondCorp and Lanterra Developments to put a combined $1 million towards 20 new bike stations close to the highrises they’re building in Toronto Centre-Rosedale.

There are currently 80 stations downtown.

Candarel will give $500,000 for a project at Yonge and College streets; $200,000 will come from DiamondCorp’s condo at Wellesley and Sherbourne streets; and Lanterra’s Sutton Place redesign will bring in $300,000.

Under Section 37 of Ontario’s Planning Act, city council can allow developers to create fewer parking spaces in exchange for other amenities.

Bixi, which launched in May 2011, is carrying a $3.9-million debt.

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