Developers Tridel and Hines have released new details about Bayside Toronto, a neighbourhood planned for Toronto's waterfront.
For years, Waterfront Toronto has been touting its redevelopment plans for an ex-industrial section of the Lake Ontario shoreline it calls East Bayfront, between Jarvis and Parliament Streets. Now, here’s a glimpse of what the future holds for the district, courtesy of some of the developers that plan to build condos there.
Earlier today, Toronto developer Tridel and U.S. real-estate firm Hines announced the first residential phase of Bayside Toronto, a 13-acre development that, if all goes as planned, will span the area between Sherbourne Common park and the Parliament Street slip, south of Queens Quay East.
The first condo planned as part of the redevelopment will be a 13-storey, 363-unit condo tower called Aqualina. You can see a rendering of its planned exterior if you click through the image gallery, above. Tridel intends to build the place so that it qualifies for LEED Platinum designation, which is the highest level of environmental certification offered by the U.S. Green Building Council.
The developers say that the finished development, a rendering of which you can see above, will include more than 2 million square feet of residential and commercial space, with 1900 residential units. The whole project is expected to cost $1.1 billion, and to take a decade to build.
The new condos and offices will join a few other waterfront pioneers that have already set up shop on former industrial land in the district, including George Brown College and Corus Entertainment.
Despite all this, the area is plagued by spotty public transit (the City is exploring options for funding a chronically delayed effort to build East Bayfront a streetcar line, but in the meantime the 6 Bay bus is the only viable connection to Union Station) meaning this supposedly environmentally friendly development may end up playing host to more than its share of new cars.