TORONTO – Developers and city officials held a ceremony to break ground on a $910-million residential and commercial development for Toronto’s waterfront on Friday.
Aqualina, the first building in the 13-acre Bayside Toronto project, is as a mix of residential, employment, cultural and commercial space.
It is the first of eight buildings slated for construction as part of the Toronto waterfront makeover.
The area currently under development is Queens Quay East to the north, Parliament Slip to the east, Lake Ontario to the south, and Sherbourne Common to the west.
The Toronto waterfront is currently undergoing a significant revival.
Developer Daniels Corporation revealed a plan in March for a mixed-use condo project at the site of the former Guvernment nightclub in Toronto’s waterfront district.
The project will include office space, retail, residential, academic and cultural components with a price tag of $700-million.
Meanwhile, an ultra-high-speed fibre-optic network will be a driving factor in bringing nearly 2,000 high-tech jobs to the new “innovation centre” that will be built on Toronto’s waterfront.
Menkes Development will begin construction in 2016.
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