Billion-dollar waterfront revitalization plan would include new island at mouth of Don River
Posted July 14, 2015 8:30 am.
Last Updated July 14, 2015 11:27 pm.
This article is more than 5 years old.
A billion-dollar plan to revitalize Toronto’s waterfront is moving forward, Mayor John Tory announced on Tuesday, saying it would transform the Port Lands, creating thousands of new jobs and new affordable housing.
But first the area must be flood-protected and studies and environmental assessments are the first step towards making the ambitious vision a reality.
Currently, 715 acres, including parts of south Riverdale and Leslieville, are at risk of flooding.
On Tuesday, Mayor John Tory announced $5 million to fund those studies and assessments, saying they are the “next necessary step” in a project to be funded by all three levels of government.
“I believe this next stage is going to be transformational for the city,” the mayor said.
The plan seeks to “take underused land and transform it into a valuable living asset for the city,” Tory stressed, saying it would “unlock the environmental and economic potential of these lands.”
The studies are expected to be finished by November with construction on the project pegged to begin in 2017.
The final plans include a new urban island which would be created at the mouth of the Don River, close to Cherry Street and Lake Shore Boulevard East.
Called Villers Island, it would help divert water, creating protection from possible flooding.
The area has seen massive redevelopment in recent years, spurred by the creation of the Athletes’ Village for the 2015 Pan/Parapan American Games. Those buildings, part of the Canary District neighbourhood, will be turned into condominiums. The project also includes a YMCA, affordable housing, and residences for George Brown students.
