Toronto port lands to undergo $1.185B facelift over 7 years
Could unlock development, create 1,500 jobs
The governments of Canada, Ontario and Toronto Wednesday announced a $ 1.185- billion cleanup of the city’s port lands, that will eventually protect up to 240 hectares of space, a move designed to safeguard southeastern portions of downtown Toronto f rom f l ooding and unlock potential development in the area.
The investment includes up to $ 384 million from the f ederal government and $ 400 million each from the provincial government and the city.
Last year, all three governments announced $ 65 million in infrastructure funding under the Clean Water and Wastewater Fund, a local Toronto project that is included in the $1.25-billion figure announced Wednesday.
“There are two big reasons to make these investments; the first is to protect these lands and area from flooding. Flooding happens and it is happening more regularly and its effects can be felt across the whole city,” said Prime Minister Justin Trudeau at a press conference.
“We need to take steps now to ensure that the land we are gathering in can be safely used and enjoyed for years to come.”
He said the second reason was the economic benefits of cleaner and better protected port lands.
“As many as 1,500 jobs will be created in the cleanup and development phases,” said the prime minister, adding 80,000 jobs could be created in the port lands and the east harbour area on completion.
He said 12 million square feet of new commercial development space will be added to Toronto’s downtown once the project is completed. The area is expected to accommodate housing for as many as 30,000 people, with 20 per cent of the units set aside for affordable housing.
The project, which will take about seven years to complete and result in 1.5 million cubic metres of excavated soil, will impact the Don River on the eastern end of Toronto’s waterfront.
Waterfront Toronto, a public development corporation created in 2001 by the three levels of government to lead a revitalization of Toronto’s waterfront, says The Port Lands Flood Protection Project will create “two new outlets for the Don River — including a wide river valley — that will safely convey flood waters into Lake Ontario, as well as provide new parks, aquatic habitat and infrastructure such as roads, bridges and a transit right-of-way.”
Mayor John Tor y described his city as the economic engine of the country and said it’s easy to see why three levels of government were able to come t ogether on t he remediation project.
“This large piece of our waterfront is the largest undeveloped piece of land in a North American city,” said Tory.