Toronto's waterfront revitalization shifts eastwards
Dubbed the Quayside Project, Queens Quay and Parliament will be the first part of the ongoing redevelopment process.
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One of the waterfront’s most neglected intersections is about to get a facelift.
Queens Quay and Parliament will be the first part of the ongoing eastern waterfront revitalization process. Aptly named the Quayside, the project aims to transform a 4.9-hectare site into an accessible and sustainable urban community.
Waterfront Toronto is currently looking for private technology investors to help get the project off the ground. They will later call upon developers and contractors to make their pitches for condos, rental units and office spaces.
The idea is to create a community hub that provides inclusive and affordable housing while staying environmentally friendly, said Waterfront Toronto chief development officer Meg Davis.
“We’re always trying to demonstrate the ability to build these complete communities,” she said, noting the focus is on improving walkability and green spaces in public places. The ideal community would combine academic, residential, cultural and commercial amenities all in one place.
“That’s a model that can allow people who live and work in the downtown core to basically stay in the downtown core.”
As a pilot project for the broader redevelopment of East Bayfront, the Quayside project will serve as an example for how urban areas can apply innovative solutions for energy conservation, carbon reduction, housing and job growth.
While the project doesn’t have a fixed timeframe yet, Davis is confident buildings could start construction within two years.
“We just want to put the focus on sustainability, affordability and the beauty of the waterfront,” she said.