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WATERFRONToronto, Toronto, Canada

Thursday 24 Apr 2008
 

WATERFRONToronto scores first private investment

 
 
 
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Editorial

First confirmed private investment announced for Toronto's sustainable overcrowding solution 

John Campbell, President and CEO of WATERFRONToronto, this week welcomed a coalition development team as the first private sector investment and development partners in a $300 million sustainable project. Urban Capital Property Group, Toronto and Redquartz Development, Dublin will work together on the West Don Lands development at WATERFRONToronto.

West Don Lands is an extension of the WATERFRONToronto development which was created in 2001 by Canada’s three levels of government as a solution to overcrowding in the Canadian city. Toronto is Canada’s largest city with a population of 2.5 million people. The regeneration project will update and expand into the shore lining Lake Ontario. WATERFRONToronto’s vision for West Don Lands is to transform the area into an urban sprawl interlaced with extensive green spaces, pedestrianised streets, affordable housing and public transport links within 5 minutes of all housing and amenities.

Canada’s Environment Minister, John Baird, said: “Our government is dedicated to working with WATERFRONToronto and the other government partners to create a world renowned model for sustainability on the shores of Lake Ontario.”

The newly appointed developers are said to bring a “bold architectural response” to the 850 homes at River Square, the first neighbourhood of the West Don Lands project designed by Saucier + Perrotte Architects, Montreal, with ZAS Architects, Toronto, and Stoss Landscape Urbanism of Boston.(pictures of the winning designs will be released shortly)

Urban Capital and Redquartz will work with one of Canada’s top LEED consultancy firms, Enermodal Engineering to work on a “solid plan” to achieve LEED Gold, North America’s award for sustainable development.

Campbell said of the investors: “We are thrilled to be able to partner with the Urban Capital/Redquartz team. We believe they are the right team with the right vision for delivering the first phase of what will be a showcase, green neighborhood in the West Don Lands.”

Niki May Young
News Editor

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