New project underway for city’s waterfront
Posted August 19, 2010 7:12 pm.
This article is more than 5 years old.
TORONTO, Ont. – Details of a new $800-million development project for the city’s waterfront were unveiled on Thursday.
The plan, called the Bayside Development is meant to bring the city to the waterfront with a new 10 acre neighbourhood bordered by Lake Ontario to Queen’s Quay and Parliament to Sherbourne streets.
John Campbell, CEO of Bayside Development, said the heart of this project is transit, and he believes the TTC will play a crucial role in building Toronto’s newest community.
“If we can get transit going relative to the opening of the building, soon thereafter we can influence people to say (to themselves) ‘we don’t need to buy a parking spot, we don’t need to buy a car’,” he told reporters.
The neighbourhood will include 1,700 homes to be developed by the real estate company, Hines, as well as restaurants and condominium buildings.
The plan has been approved by the city’s executive committee and goes before city council next week. If council gives them the green light, construction is scheduled for 2013 with the hope it will be completed by 2021.
