Oct. 31 deadline for Sidewalk Labs transformation a scary proposition
An Oct. 31 Halloween deadline to resolve major issues with Waterfront Toronto has been set for the game-changing Sidewalk Labs development proposal – a date some consider a scary proposition. If a deal can move forward, another six-month period will be allowed to finalize the biggest and most advanced redevelopment project in North America. If agreement isn’t reached, another partner may be sought.
Sidewalk is the developer and sister company of Google chosen in 2017 by Waterfront Toronto to develop a 12-acre, smart-city site at downtown Toronto’s eastern waterfront called Quayside. The new community would include a mix of housing types (including tall wood construction), financing for light-rail transit and walkable, bicycle-friendly streets.
Part of the proposal is the Innovative Development and Economic Acceleration district (IDEA) district, a 190-acre project on the eastern waterfront that builds on Quayside. It would include a new Canadian headquarters for Google and an $80-million pre-fabricated construction manufacturing hub to build its mass-timber neighbourhood.
According to Sidewalk, its proposal would create an estimated 93,000 jobs and $4 billion in annual tax revenue by 2040.
“But Toronto has had challenges in making big-vision projects a reality to take it to another level, as well as streamlining a clogged development and building approvals process,” says Richard Lyall, president of the Residential Construction Council of Ontario. “It’s not surprising that the two big issues in the last Toronto election were transit and housing. We are not developing enough of either to support our population growth.”
As it stands, the Toronto region is second only to Dallas-Fort Worth-Arlington as the fastest growing major metropolitan area in North America, Lyall adds.
Sidewalk can introduce critical innovations in building information modelling, supply chain management and the regulatory approvals process, Lyall says, and it holds the promise for environmentally friendly affordable housing.