May 31, 2021, Toronto, ON – The Request for Qualifications (RFQ) stage of the process for the Quayside Development Opportunity has closed for submissions, and Waterfront Toronto is proceeding with the evaluation as set out in the RFQ.
The RFQ generated substantial interest with 240 participants attending a virtual briefing event hosted by Waterfront Toronto, and 88 questions that were submitted through the procurement portal.
The submissions are a strong signal that Toronto is an enticing place for innovative developers to do business, that the city is poised for a strong recovery, and that the waterfront will play a key role in writing the next chapter of Toronto’s success for years to come.
Quayside will reorient the city to the lake, drive inclusive job creation, continue to expand on the supply of affordable housing, and set new standards for sustainable low-carbon communities, design excellence, and inclusive public realm.
Prior to evaluation, Waterfront Toronto will first review each proposal to determine compliance with the submission instructions provided in the RFQ. All compliant proposals will move forward for evaluation, which will be conducted by Waterfront Toronto staff, and representatives from the City of Toronto and CreateTO. The evaluation criteria can be found in the RFQ, released on March 10, 2021.
In July, Waterfront Toronto will release the names of the shortlisted proponent teams that will be invited to respond to a Request for Proposals (RFP). Following the selection of the Preferred Proponent from the shortlist and the conclusion of contract negotiations, there will be additional opportunities for public feedback as the vision for Quayside becomes a reality.
About the Quayside Development Opportunity
The Quayside Development Opportunity is a 12-acre area located at the foot of Parliament Street and Lake Shore Boulevard East in Toronto. Waterfront Toronto launched an international Request for Qualifications (RFQ) on March 10, 2021. The deadline for proponent teams to make a submission was May 28th, 2021. A shortlist of Proponents will be invited to participate in a second stage, a Request for Proposals (RFP) stage.
At the RFP stage, Waterfront Toronto will issue an RFP to the Shortlisted Proponents and invite them to enter into discussions through commercially confidential meetings and may use the results of those confidential discussions to define the terms of the agreement for the Quayside development. The Shortlisted Proponents will be asked to prepare and submit a financial proposal, development strategy, conceptual design and legal proposals to Waterfront Toronto. Waterfront Toronto intends to evaluate the RFP submissions to select a single Proponent (“Preferred Proponent”) with whom to enter into agreements for the Quayside development.
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