No. GC003/02For release - October 17, 2002
TORONTO — The official Development Plan and Business Strategy for the revitalization of Toronto's waterfront was formally presented today to the Government of Canada, the Ontario Government and to the City of Toronto for review and approval.
"A revitalized waterfront will enhance Toronto's economic vitality, social development, transportation systems and environmental sustainability," said Transport Minister David Collenette. "I am pleased to receive this Development Plan and Business Strategy, which my officials will be reviewing thoroughly."
"We are committed to promoting new growth and new opportunities in Toronto and throughout Ontario," said Janet Ecker, the Ontario Minister of Finance and Minister responsible for SuperBuild. "This plan will help determine how to move forward to improve Toronto's waterfront."
"For decades, Torontonians have been dreaming of a waterfront that they can live, work and play on," said Toronto Mayor Mel Lastman. "The release of this business strategy brings us one step closer to making that dream a reality and I can't tell you how thrilled I am to see it happening."
The strategy was prepared by the Toronto Waterfront Revitalization Corporation (TWRC), which is mandated by the three levels of government to oversee waterfront revitalization. The strategy is expected to achieve key environmental, housing, transit, transportation and economic objectives.
The plan presented to the governments today includes a network of 500 acres of new and improved public parks, including Lake Ontario Park, which would be as large as Stanley Park in Vancouver. The plan also calls for the development of more than 40,000 new residential units and more than 7.6-million square feet of new commercial space.
The Development Plan and Business Strategy incorporates public views gathered in 2000, 2001 and 2002. The complete Business strategy will be released for further public consultations starting in November 2002 and be coordinated by the TWRC and the City of Toronto.
The TWRC has $1.5 Billion in interim funding ($500 million from each jurisdiction level), which it is using to move forward with several initial projects, including the extension of Toronto's Front Street West to provide access to the new waterfront.
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Contacts:
Anthony PolciDirector of CommunicationsOffice of the Minister, Ottawa(613) 991-0700
Kristin JenkinsToronto Waterfront Revitalization Corporation(416) 214-1344 ext. 223
Danièle GauvinOntario SuperBuild Corporation(416) 325-5620
Scot MagnishMayor's OfficeCity of Toronto(416) 395-6482
Transport Canada is online at www.tc.gc.ca. Subscribe to news releases and speeches at www.tc.gc.ca/e-news and keep up-to-date on the latest from Transport Canada.
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