The two sides had set a deadline of today to resolve issues including the project’s scale, public transit commitments, developer selection, and privacy and data issues before going further in the process.
With approval of the terms, Sidewalk’s proposal will move to a formal evaluation and further public consultations with a final vote on whether to approve the project set for March 31.
The terms approved by the board include reducing the scope of the project to the original set 4.8-hectare Quayside site, rather than a larger development proposed by Sidewalk Labs.
Google sister company Sidewalk Labs has also agreed to drop its proposal for an urban data trust and instead adhere to exiting laws, and Waterfront will lead a competitive bid for vertical development teams for the project, rather than Sidewalk.
Sidewalk also agreed not to make transit a prerequisite for moving forward with the project, in recognition that Waterfront Toronto, a tri-government body, doesn’t have jurisdiction over funding of transit.