Governments Commit $975 Million to Transform Toronto’s Waterfront

Governments Commit $975 Million to Transform Toronto’s Waterfront

On Feb 11, 2025

The Government of Canada, the Government of Ontario, and the City of Toronto have announced a $975 million investment to fast-track the revitalization of Toronto’s waterfront. The funding will support the creation of over 14,000 new homes, including affordable rental units, and drive economic growth through job creation and infrastructure development.

The initiative focuses on Quayside and Ookwemin Minising (formerly Villiers Island), positioning these areas as future urban hubs. Once completed, the project is expected to generate 100,000 skilled trades jobs and contribute $13.2 billion to the economy. Alongside housing, the investment aims to enhance Toronto’s waterfront as a global attraction, building on recent developments such as Biidaasige Park, which is set to welcome over a million visitors annually.

Site servicing work is set to begin soon, paving the way ...