Despite its Phenomenal Success, Waterfront Toronto Faces Uncertain Future

The revitalization of Toronto's waterfront has been a remarkable success, generating billions in economic development and thousands of jobs. As Waterfront Toronto's seed money runs out, why is the agency facing obstacles in raising more funds?

1 minute read

May 5, 2013, 7:00 AM PDT

By Jonathan Nettler @nettsj

"As investments go, Toronto’s waterfront has turned out to be one of the best," says Christopher Hume. "Starting in 2001 with $1.5 billion of public finding and 810 hectares of prime lakeside real estate, Waterfront Toronto has since signed private-sector deals worth $2.6 billion and created 16,000 full-time years of employment."

"Having spent $1.26 billion of its seed money, the agency will soon run out of cash," notes Hume. "That makes it a matter of some urgency."

"Waterfront Toronto’s success comes at an auspicious moment for the city. Given Mayor Rob Ford’s often repeated disapproval of government spending, it’s important to remember that public sector investment can pay off handsomely."

FULL STORY: Waterfront Toronto pumps billions into economy and now needs power to raise revenue: Hume

Thursday, May 2, 2013 in The Toronto Star

Urban Development Ontario Toronto Waterfont Toronto

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Learn More

Advertise with us

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.