Toronto’s Waterfront will soon offer a glimpse into the future of what real estate development projects could look like.
Neighbourhoods as we know them generally take form in informal ways as cities grow, but there may be a different way of doing things. Developments like the one being planned by Sidewalk Labs, a sister company of Google, will display how a newly conceived neighbourhood can be designed and created ‘from the internet up’.
Beginning in as few as 3 years, a 12 acre plot of land on Toronto’s Waterfront will be developed into a high-tech neighbourhood known as ‘Quayside’. This project will be taken on by one of the world’s largest technology companies as part of their $50 million investment in the property.
The Quayside area has been home to industrial buildings and large parking lots for decades but with this new development will be turned into a neighbourhood unlike anything else in the city. Although few details about the space are known as of yet, this project will look to incorporate innovative modes of transportation and modern residences.
A $1.25 billion investment was also announced recently for flood protection and revitalization in the Waterfront area. This announcement came from the federal, provincial, and municipal governments and could play into a larger overall transformation of the area.
Photo Courtesy of Parkmerced2016