Waterfront Toronto and Quayside Impact confirm agreement to develop Quayside

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Ontario Construction News staff writer

Waterfront Toronto has signed an agreement with Dream Unlimited Corp. (Dream) and Great Gulf Group – Quayside Impact Limited Partnership to develop a 12-acre site at Parliament and Queens Quay into housing and new public spaces, creating Canada’s largest all-electric, zero-carbon master-planned community.

“This agreement is another step toward Quayside becoming the world-class, complete community that Toronto was promised,” said George Zegarac, Waterfront Toronto CEO. “It codifies the vision for this neighbourhood, and all the hopes that we heard from the public and from our partners in government: Quayside will be a community that is dynamic, inclusive and resilient.”

QILP was selected in February through a competitive process and the plan includes:

  • 800+ affordable housing units, with more than half being family-sized
  • Affordable housing will be built in each phase of the development
  • 3.5 acres of public space, including a car-free green oasis from Parliament Street to Bonnycastle Street to connect projects west towards Jarvis Street.
  • Innovative low-carbon development, including Canada’s largest tall-timber structure.

“Even as the economic climate makes development projects more difficult, the board was pleased to see how this deal advances Waterfront Toronto’s public good mandate and the important commitments made by all parties,” said Jack Winberg, chair of Waterfront Toronto’s Investment and Real Estate Committee.

Quayside Impact’s original proposal for Quayside featured five towers, designed by renowned architects including Sir David Adjaye, Alison Brooks, and Henning Larsen.

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