A rendering of the completed waterfront revitalization project. Image c/o waterfronttoronto.ca.
Toronto’s waterfront is home to numerous communities. In terms of size, it stretches 46 kilometres from Marie Curtis Park at the Etobicoke Creek all the way to Rouge River in the east end of the city. To give our readers some perspective, that’s about four times the size of Monaco! Currently, the waterfront is undergoing a revitalization project. This project happens to be the largest of its kind underway inNorth America. Completion of the entire project is expected to take 25 years. Overall, it will create 40,000 new residences and 40,000 new jobs for Torontonians. Part of the goal is to haveToronto’s Waterfront become a magnet for tourism and, in this way, create job and investment opportunities.
So far, the revitalization has had a large impact on the economy. Between 2001 and 2010 it has already created about 9,700 full-time years of employment and contributed $1.9 billion to the Canadian economy.
The new waterfront will have communities continuously hosting art festivals, bike and boat races, as well as other events.
It will also include an abundance of green space, boardwalks, and trails. In fact, one of the biggest parts of the revitalization is the project’s dedication to environmental sustainability. Plans in this regard include an increased focus on alternative forms of transportation, like walking and cycling. There is also talk of re-routing the mouth of theDon Riverto help protect different areas from flooding and to attract new wildlife.
The first step in the revitalization process was for planners to develop a long-term vision of all the public space. To do that, Waterfront Toronto launched a design competition. The winner, West 8 + DTAH, put forth a clear and simple vision that included the creation of a continuous promenade and the transformation of Queens Quay into an innovative boulevard.
Since then, the central waterfront has been awaiting the development of a Master Plan, which will translate the vision for the waterfront into an action plan. Waterfront Torontohas also held many public meetings and events, with the goal of obtaining community involvement.
As of now, construction for the Central Waterfront will start this spring. Queens Quay will be transformed into an efficient and beautiful street. The project will feature a tree-lined promenade, a bike lane, a dedicated transit line, and traffic lanes on the north side. Construction is scheduled to be complete by 2014.
The revitalization is sure to have a large impact on the enrichment of life for members ofToronto’s waterfront communities. We are looking forward to seeing all the changes as they take place and encourage you to stay tuned for future updates.
In the meantime, if you are thinking of moving to this thriving neighbourhood, please feel free to contact us at (416) 929-1660 or email us at resupport@axoncapitalrealty.com. We’d be happy to help you in your search.
Sources:
http://www.waterfrontoronto.ca/widgets_newsletter/read-newsletter/id/31
http://www.toronto.ca/waterfront/
