TORONTO — Waterfront Toronto says it has approved an agreement with two companies that will develop a swath of lakeside land a Google affiliate once hoped to turn into a high-tech neighbourhood.
The organization overseeing the city’s waterfront says the agreement with Dream Unlimited Corp. and Great Gulf Group. to develop the 12-acre neighbourhood known as Quayside was endorsed Thursday.
The companies together known as Quayside Impact Limited Partnership say the neighbourhood they will develop will be Canada’s largest all-electric, zero-carbon master-planned community.
It will have more than 800 affordable housing units, with more than half being family-sized with at least two bedrooms.
Another 3.5 acres will feature a car-free green space stretching from Parliament Street to Bonnycastle Street and there will be a low-carbon development, including Canada’s largest tall-timber structure.
Waterfront Toronto’s announcement comes after Google affiliate Sidewalk Labs walked away from developing the land in May 2020 because of “unprecedented economic uncertainty.”
This report by The Canadian Press was first published Dec. 13, 2022.