The revitalization of Toronto's waterfront is a massive project that will take at least 25 to 30 years to complete. To be fiscally responsible and to ensure the commercial success of each individual project, Waterfront Toronto is taking a phased approach to revitalization.
When Waterfront Toronto was established, the three orders of government each committed $500 million in seed capital to enable the organization to begin the revitalization process.
The vast majority of the land in the waterfront revitalization area is owned by the governments and they also gave the organization development control over their land.
To facilitate our revitalization program, Waterfront Toronto works with public and private partners who buy the land for development. Our funding model leverages the public capital by working with private development partners who buy the land for development, and the money earned is used to further fund public infrastructure.
Under Waterfront Toronto’s initial seed funding allocation from government, there are several projects that received some funding for planning and design work, but not for construction. These projects are expected to be developed in the future when appropriate funding is available.
In addition to those projects listed, there are numerous projects – parks and public spaces, streets and infrastructure, as well as development sites – that will be planned, designed and built in the future phases of waterfront revitalization.