Toronto approves $160 million for waterfront development

Ontario Construction News staff writer

Toronto’s waterfront development construction has received a vote of confidence from city council with a multi-year investment in parks and community centres in this year’s budget.

More than $160 million is available for projects that are underway, near completion or planned over the next five years.

“Each budget is an essential step towards long-term, impactful development of the waterfront, which has already been radically transformed over a generation of change,’ said deputy mayor Jennifer McKelvie. “The enormous multi-year commitment made by Toronto City Council of more than $160 million ensures that the waterfront continues its evolution into a more liveable and sustainable community.”

The plan is to create North America’s “largest urban redevelopment program and one of the most extensive waterfront revitalization efforts in the world.”

Parks-related and key state-of-good repair projects include:

  • Ferries and shoreline infrastructure – replacement of two ferries and electrical shoreline infrastructure at the ferry terminal ($75.9 million investment over three years, including $12.3 million in 2023)
  • Love Park – to be completed in 2023 ($15 million total budget)
  • Leslie Lookout Park – to be completed in 2023 ($2.7 million City investment)
  • One Yonge Community Recreation Centre – to be completed in 2023 ($19.1 million total budget)
  • Bathurst Quay Revitalization Projects – new waterfront park to be completed in 2024 ($8 million investment in the 2023 budget). This is the last of six recent projects to date totalling $47 million in spent and committed funding from the City and its partners.
  • Rees Street Park – expected to be completed in 2026 ($19.2 million total budget with $2.5 million invested in 2023)
  • East Bayfront Community Recreation Centre – expected to be completed in 2025 ($25 million total budget over the next three years with $1.3 million invested in 2023)
  • Shoreline improvements – rehabilitation of shoreline infrastructure for the High Lake Effect Flooding and Windstorm projects ($22.8 million investment in 2023 across the waterfront)

The city and its public and private sector partners continue to be guided by the 2003 Central Waterfront Secondary Plan.

More information about the waterfront revitalization plans and work is available on the city’s Waterfront Revitalization webpage.


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