Waterfront Toronto Revitalization Project...Waterfront Toronto is implementing a remarkable vision for the area that will link major waterfront destinations, create new public spaces

Waterfront Toronto Revitalization Project

Emre Cengiz 130302029

∗ Waterfront Toronto is building the largest urban revitalization project in North America.

What is Waterfront ?

Boundary of Toronto

∗ 1858 1910

Historical Overlay of Waterfront CA

General Information

∗ The revitalization of Toronto’s waterfront is one of the largest waterfront revitalization efforts ever undertaken in the world.

∗ On a world scale, Toronto’s waterfront revitalization is almost unequalled in size.

∗ It’s larger than Lower Manhattan south of Houston Street, and four times the size of Monaco.

∗ Expected to take 25 years to complete, the new blue edge will create approximately 40,000 new residences and 40,000 new jobs.

∗ Between 2001 and 2010, work on the waterfront had already generated approximately 9,700 full-time years of employment and contributed $1.9 billion to the Canadian economy.

∗ The total area being redeveloped is 800 hectares.

Focused on five broad goals Reduced energy consumption The construction of green buildings Improved air and water quality Expanded public transit Diverse, vibrant downtown communities

What are the goals of the project ?

Waterfront Revitalization Project;

Central Waterfront Easy Bayfront West Don Lands Lower Don Lands Port Lands

Central Waterfront

∗ 2.5 km stretch along most well-developed part of downtown Toronto’s waterfront

∗ Water’s edge promenade: 1.8 km connected by five timber footbridges

∗ Working with a comprehensive plan by West 8 + DTAH, the winners of the 2006 Central Waterfront Innovative Design Competition, Waterfront Toronto is implementing a remarkable vision for the area that will link major waterfront destinations, create new public spaces and give the city the grand waterfront boulevard it deserves.

∗ Ultimately, the goal is to create a powerful, world-class identity for the central waterfront that celebrates the Canadian lakefront experience and provides the public with access to the water’s edge.

Central Waterfront

East Bayfront

∗ Now, after years of planning and public consultation the transformation of this underutilized area which has been a reminder of Toronto’s industrial past is well underway.

∗ 23 hectares ∗ 6,000 new residential units ∗ 3 million square feet of commercial space ∗ 8,000 new jobs ∗ 5.5 hectares of parks and public spaces ∗ 1 km continuous water’s edge promenade

East Bayfront

West Don Lands

∗ The West Don Lands is being transformed from former industrial lands into a sustainable, mixed-use, pedestrian-friendly, riverside community.

∗ 32 hectares ∗ 6,000 new residential units ∗ 9.3 hectares of parks and public space

West Don Lands

Lower Don Lands

∗ Toronto plans to transform the largely underutilized industrial area into new sustainable parks and communities.

∗ 125 hectares ∗ 12,500 new residential units ∗ 3,000,000 sq. ft. of commercial and retail space ∗ 53 hectares of parks/public spaces including 24

hectares of park land with two event spaces

Lower Don Lands

Port Land

∗ History; Man-made area created by infilling what was once the largest wetland on the Great Lakes. Beginning in the 1880s, the area was gradually filled in to make more land available for industry and shipping.

∗ It will transform the southern portion of the Port Lands into part of a massive new park.

∗ Size of the area is 400 hectare

Port Land

∗ When Waterfront Toronto was established, the three orders of government each committed $500 million in seed capital to enable the organization to begin the revitalization process.

∗ To facilitate our revitalization program, Waterfront Toronto works with public and private partners who buy the land for development.

∗ As a tri-government organization, Waterfront Toronto is fully accountable to the governments of Canada, Ontario and the City of Toronto.

Stakeholders and Funding

∗ The cost of revitalization of Toronto’s waterfront was originally estimated (in 2001) at $17 billion, of which $4.3 billion would be funded from the public sector and remaining $12.7 billion from the private sector. Due to escalation in construction costs, the cost of revitalization is now estimated to be $34 billion.

Stakeholders and Funding

∗ To date Waterfront Toronto has concluded public and private sector development deals valued at $1.475 billion, far exceeding the $965 million of public funding spent to date.

∗ The returns on the investment in waterfront revitalization will dramatically increase over time.

∗ In addition to the long-term economic benefits from business development and tourism, upon full build out the City will receive approximately $136 million in annual property taxes from East Bayfront, West Don Lands and the Lower Don Lands. In East Bayfront the increased and incremental property tax assessment is estimated to be approximately $6 billion.

Funding

http://www.waterfrontoronto.ca http://www.youtube.com Google Earth

References