Waterfront Toronto is undertaking one of the largest waterfront revitalization initiatives in the world with the transformation of 800 hectares of formerly industrial, underused lands into new showcase mixed-use communities.
The revitalization effort is backed by a $1.5 billion tri-government investment. Public sector funding is being used for all the initial community building aspects of development such as: planning and design, undertaking required remediation work, building necessary civic infrastructure, and developing parks and public spaces.
Partners from both the private and public sectors also play a major role in revitalization. Publicly owned waterfront land is sold and leased to partners who develop it based on approved plans and zoning.
There are unparalleled opportunities for commercial investment and development throughout the waterfront. Waterfront Toronto has already engaged development partners for a number of projects representing 380,000 square meters (4 million square feet) of development, much of which is currently underway.
The revitalization of Toronto's waterfront is a 25 to 30 year project, and Waterfront Toronto is implementing development in a phased approach to ensure the success of each individual project. The market place and the City can only absorb a limited amount of residential and commercial space each year, and flooding the market with 40,000 residential units and one million square meters of employment space in a short period of time would not be commercially viable.
In the next few years, there will be opportunities in East Bayfront, West Don Lands and the Lower Don Lands. All opportunities will be posted on our website.
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