- Livable Neighbourhoods
Until recently, the land had consisted of both privately held and City-owned parcels. The owners of the private parcel, Diamond Corp., had understood the potential on this site and started to move forward with plans to erect a condominium development on their site.
Although their plans were at an advanced stage, moving forward on this private development would have limited the ability to offer the City a larger plan to make the most of this significant corridor – a new, completely integrated and pedestrian focused mixed-use community.
Recognizing the importance of a comprehensive City-Building vision, Build Toronto, to which ownership over the City-owned parcels was transferred to, worked with Diamond Corp. on a holistic approach to develop the entire quadrant. Rather than working separately, the two owners in partnership ensured the planning of a responsible, truly mixed-use development that was able to integrate a proposed pedestrian and cycle bridge within the area. The master plan for this development includes 4-acres of new public park and the creation of an eight-park network leading to the waterfront.
Build Toronto is providing funding for 25 affordable housing units in this development through a partnership with Habitat for Humanity. A new model for Habitat for Humanity, the affordable home ownership units will be made available within the condominiums.
Build Toronto supports investment in new neighbourhoods and will be looking at integrating this new model within several other developments across the City.