Toronto land developers lend support for removal of Gardiner East

WATCH: Possible options for the Gardiner under consideration

TORONTO – A group of Toronto business leaders and land developers have banded together to support the tear-down option of the eastern portion of the Gardiner Expressway.

“Mr. Tory, tear down the Gardiner East,” said CityBuilders member Alfredo Romano, President of Castlepoint Numa in a media release.

“Removing the barrier between the city and a new and vibrant, revitalized waterfront will benefit Torontonians for generations to come.”

Calling themselves the CityBuilders, the group is the latest to pick sides on the controversial future of Gardiner East.

READ MORE: Close vote expected at council next week on future of Gardiner East

In a letter to councillors, the group said the boulevard option has the potential to attract $2 billion in investments and save taxpayers in excess of $500 million compared to the hybrid option, which would have a portion of elevated roadway maintained.

“The capital costs for the status quo, or so-called ‘hybrid proposal,’ are more than double those for the ‘boulevard’ option,” Romano said.

“This money is badly needed for other critically important citywide initiatives, including the delivery of SmartTrack.”

The CityBuilders group is composed of investors and landowners such as Tridel Group of Corporations, Daniels Corporation, Distillery Historical District and Streetcar Developments.

The group said a number of CityBuilders are corporations that own or control approximately 51 hectares of prime Toronto waterfront land and considers the Gardiner East tear-down option a key to the area’s success.

“With the right decision on the Gardiner East, these areas collectively have the potential to provide thousands of new ownership and rental residential units, extensive affordable housing, new cultural landmarks, parks, schools and a substantial number of jobs,” the group said.

Council is scheduled to vote on the Gardiner’s future next Wednesday.