I understand that this blog is about Mississauga but once in a while a topic comes along that needs to be blogged about. Today I want to talk about a huge (and I mean, HUGE) revitalization project that is currently taking place in Toronto. The land in question is approximately 800 hectares which will cost approximately $1.5 billion to revitalize and will create some 40,000 jobs (WaterfronToronto).
The key areas are: The Central Waterfront, East Bayfront, West Don Lands, and the Lower Don Lands.
The Central Waterfront
- Boundaries: From Bathurst Street to Lower Jarvis Street, south of Lake Shore Boulevard to Lake Ontario
- Size: 2.5 km stretch along most well-developed part of downtown Toronto’s waterfront
- Water’s edge promenade: 1.8 km connected by five timber footbridges
- Martin Goodman Trail: 2.2 km off-street Martin Goodman Trail bike and pedestrian trail next to Queens Quay Boulevard
New and improved public spaces in this area:
- Spadina WaveDeck: This new public space opened on 2008.
- Rees WaveDeck: This access was completed in 2009 and provides lakeside access.
- Simcoe WaveDeck: A very cool and dramatic urban dock that opened in 2009.
- Portland Slip: A brand new 130 metre stretch of the water's edge that will connect the Queens Quay to Ireland Park.
- Queens Quay Boulevard (West): This will be the areas main street – the revitalization efforts will allow the area to live-up to it's potential – both from an accessibility perspective, and a real estate perspective.
- York Quay: This will be a multi-phased project that will completely revamp the area into a waterfront destination.
- Five Footbridges: Five iconic footbridges will be created to allow people to walk along the inner harbour, the slip basins and inlets.
- Boundaries: From Lower Jarvis Street to Parliament Street, Lake Shore Boulevard to Lake Ontario
- Size:23 hectares (55 acres)
- Features: 6,000 new residential units, 3 million square feet of commercial space, 8,000 new jobs, 5.5 hectares of parks and public spaces, 1 km continuous water’s edge promenade
- Proximity: 10 minute walk to Union Station
This area has us extremely excited. The former industrial land in the prime waterfront location of Lakeshore Boulevard from Lower Jarvis Street to Parliament Street is being transformed into a thriving new destination for some 6000 new homes, 8000 jobs, and beautiful promenade and water edge. The area will have two signature parks: Sherbourne Park and Canada's Sugar Beach, along-with a water's edge promenade spanning both parks. Corus Entertainment have already begun constructing it's fantastic new headquarters, but the area will also house the new George Brown College campus – bringing students and jobs to the area. Other exciting developments to come to the area is a brand new project by Great Gulf Homes and designed by the world-renowned architect, Moshe Safdie. Great Gulf plan to create a premier residential and commercial address overlooking Sherbourne Park. The south-east corner is the largest parcel of land developed by Waterfront Toronto to-date. Led by Hines (a world-premier real estate firm), Bayside will be transformed from an industrial area into a hot new neighborhood right on the water's edge (WaterfronToronto).
West Don Lands
- Boundaries: From Parliament Street to the Don River, King Street to the Rail corridor
- Size: 32 hectares (80 acres), 6,000 new residential units, 9.3 hectares (23 acres) of parks and public space
- Proximity: 15 minute walk to downtown, next to the Distillery District
- Sustainability: Stage 1 LEED ND GOLD certification under the pilot program established by the U.S. Green Building Council
Another area that has us extremely excited and that has already seen some media spotlight due to the 2015 Pan American Games athletes' village and some excellent real estate developments (River City + the upcoming River City 2). This area is a 32 hectare brownfield site between Parliament Street and the Don River, and from King Street to the rail corridor. The plans in-place has it set to become a beautiful and sustainable riverside community. The plan is to feature some 6000 new residential units, employment opportunities, commercial users, and at least one elementary school and two child-care centres. Nine hectares have been set aside to allow for parks and public spaces (WaterfronToronto).
Coming back to the Athletes' Vilage, it will temporarily house all of the athletes during the games. Each unit will be divided to allow an athlete some private space. I have been told that the unit's will have kitchen rough-in's (but no completed kitchens!). Afterwards, there are plans to convert the village into housing options. Once the games are over, the unit's will be opened up and kitchens completed – then sold as fully-finished condo suites (WaterfronToronto) - pretty awesome!
Lower Don Lands
- boundaries: From Parliament St. to the Don Roadway, the Rail corridor to the Ship Channel
- size: 125 hectares (308 acres), 12,500 new residential units, 500,000 sq. ft. of commercial and retail space, 53 hectares (130 acres) of parks/public spaces including 24 hectares (58 acres) of park land with two event spaces
- proximity: 20 minute walk to downtown
The City of Toronto and WaterfronToronto are currently working to develop detailed plans for additional communities in the Lower Don Lands – this area is approximately 125 hectares of industrial land located south of the rail corridor in the City's east-end of the harbour. The City and the WaterfronToronto committee are also working to determine the future of the easternmost section of the Gardiner Expressway. This area is more-than-likely a 10-year plan and we are unlikely to see anything specific for a few years.
As a general overview, we at iMississaugaRealEstate and TalkCondo are extremely excited about this massive re-development. It is perhaps one of the largest waterfront revitalization projects in the world and with some of the thing's planned, it bodes extremely well for the City, the local economy, and the inhabitants.
A BIG thanks to WaterfronToronto for providing us the images.
If you would like to receive updates on this huge redevelopment and real estate projects that are heading there way, contact us below!
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