Entertainment district parking lot could soon become parkette

A parking lot in the heart of the entertainment district could soon be getting back to nature.

The city is looking into the idea of turning a plot of land on Richmond Street West, near John Street, into a parkette.

Last month, Coun. Joe Cressy brought forth a motion to have city staff look into finding a plot of land in the King Street West and Spadina Avenue area that could be transformed into a park.

“It’s critical that we as a city make the investments to make sure our downtown neighbourhoods, just like neighbourhoods right across the city, are livable,” Cressy said.

After some consultation, the deputy city manager, chief financial officer and city solicitor came to the decision that 229 Richmond St. W. would be the best fit. The parking lot, which is 28,363 square feet, is located next to The Ballroom.

Currently about 20,000 people live in the neighbourhood. Cressy said that number is expected to double.

“By the time everything that has been approved is built, new condos that is, there will be more than 50,000 people living there,” Cressy explained. “Meanwhile, we haven’t built a park.

“If you want to build a livable neighbourhood, if you want to ensure that downtown remains livable — the park becomes your backyard if you’re living in a condo,” he continued.

Officials are now looking into two possible ways for the city to acquire the land — purchase or acquisition.

There has been no word on just how much the plot of land could be worth, but the cost of either proposal would be funded through the 2016 council-approved capital budget for Parks, Forestry & Recreation Land Acquisition.

Under Section 42 of the Planning Act, condo developments must provide either parkland on site or cash in lieu that the city must use to purchase parkland.

“In my ward in downtown Toronto, we have accumulated tens of millions of dollars that can only be used to buy parkland. It’s time to spend that money,” said Cressy.

According to Cressy, the city has done a cost analysis for the property and he believes it is “affordable.”

However, the report states that the owners of the land were approached by city staff to determine their willingness to sell. The owners advised city staff that “their valuation of the lands vastly exceeded the valuation undertaken by City staff.”

Because of this, the report states “the acquisition of the lands by way of negotiated settlement highly unlikely.”

A full appraisal of the property will now be done and presented to city council in September.