Toronto is Canada's largest city with a rapidly growing metropolitan region on the north shore of Lake Ontario. A continental gateway and a crossroads for the world, Toronto, Canada's business, research and cultural capital ranks alongside economic powerhouses such as New York, Boston and Chicago. With its knowledge-based work force, leading-edge research institutions, a cost-competitive commercial climate and exceptional quality of life, Toronto is one of the best global cities for business.
The revitalization of Toronto's waterfront is one of the largest downtown revitalization projects underway in North America - transforming 800 hectares (2,000 acres) of largely underutilized land on the edge of Lake Ontario, right next to the central business district.
Under the leadership of Waterfront Toronto, the city's waterfront will welcome 40,000 new residences, 40,000 new jobs and 300 hectares (740 acres) of parks and public spaces.
The project represents a $17 billion investment over 25 a year time frame - supported by a $1.5 billion government investment. The result will be a dynamic and integrated series of 21st century showcase waterfront communities.
Roughly the same size as Canary Wharf and Battery Park City, East Bayfront is the jewel in the waterfront crown. Located right on the water, this 22 hectare (55 acres) site is within walking distance of downtown Toronto, several established neighbourhoods and many entertainment and cultural attractions.
East Bayfront is being targeted as a prime site to attract significant new employers to the city. The new district will have 6,000 residential units, jobs for 8,000 people and a 1.5 km continuous water's edge promenade.
East Bayfront Highlights:
- 5.5 hectares of parks and public open spaces including Sherbourne Park, Sugar Beach and the water's edge promenade
- 5,000 units of market housing
- 1000 units of affordable rental housing
- Public transit within a five-minute walk of residences
- Low scale development along the water's edge
- 230,000 m2 (2.5 million sq. ft.) of commercial space
East Bayfront Investment Summary (PDF)