City Council Approves Waterfront Toronto’s Bayside… - Hines

City Council Approves Waterfront Toronto’s Bayside Development Project

(TORONTO) – Toronto City Council has overwhelmingly approvedWaterfront Toronto’s selection of premier international real estate firm Hines to develop a prominent waterfront site minutes from downtown. The sale and lease agreements for the city-owned parcel were brought to City Council on the recommendation of Waterfront Toronto following a competitive two-stage bidding process.

The Hines plan will transform the Bayside development site into an active and diverse mixed-use community connected by major parks and public spaces.

Complete with 1,700 homes, a bustling main street and office and employment space for 2,400 jobs, Bayside is the single largest parcel of land to be developed by Waterfront Toronto.

“Today’s approval is a huge milestone not only for waterfront revitalization but for the City of Toronto,” said John Campbell, President and CEO of Waterfront Toronto. “With Hines, we can now move forward with reconnecting the city to the waterfront by building a liveable, walkable, community defined by beautiful parks and public spaces.”

Backed by an $800 million private sector investment, the Bayside development will result in approximately $1.6 billion in total economic activity and $20 million in development charges for the City of Toronto.

To promote lasting economic development, Bayside is being targeted as an employment hub on the waterfront, particularly for knowledge-based industries such as information and communication technology companies and the creative sector.

The new neighbourhood, located on a 4-hectare (10-acre) site between Lower Sherbourne and Parliament Streets, is expected to be constructed in phases with first occupancy of buildings and completion of new public spaces as early as 2014.

The entire project is expected to be completed by 2021.

"We are delighted with City Council's approval and to be working with Waterfront Toronto in creating a dynamic new live/work/play neighbourhood on the harbour,” said Avi Tesciuba, Hines vice president of Canadian operations.

“Bayside is an extremely important development for Hines, and we look forward to the excitement of bringing the vision to fruition."

Hines assembled an internationally renowned design team led by luminary architects Cesar Pelli, Fred Clarke and Stanton Eckstut to develop its plans for Bayside. The plans will deliver a vibrant new neighbourhood built on a human scale, with mews and small streets that promote a sense of closeness and community all year round.

The neighbourhood’s main street — Bonnycastle Street — will draw visitors from across the city and will provide connections to neighbouring public spaces, including the soon-to-be-completed Sherbourne Common, Queens Quay linear park, and the Water’s Edge Promenade.

The Bayside development is an integral part of the remarkable transformation already well underway in the new East Bayfront precinct that Waterfront Toronto is developing. Employees have now moved into the area’s first commercial building, Corus Quay, the new headquarters of Corus Entertainment.

Construction is well underway on George Brown College’s new state-of-the-art Health Sciences Campus. Canada’s Sugar Beach and the first stretch of the Water’s Edge Promenade are now open and next month Waterfront Toronto will open Sherbourne Common, the area’s other major new park.

The governments of Canada and Ontario and the City of Toronto created Waterfront Toronto to oversee and lead the renewal of Toronto’s waterfront. Public accessibility, design excellence, sustainable development, economic development and fiscal sustainability are the key drivers of waterfront revitalization.

Contact Hines

Headquarters

Global Headquarters

2800 Post Oak Blvd.
Houston, TX 77056-6188
United States
1 713 621 8000
Contact Hines

European Headquarters

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900

Regional Offices

U.S. East Region

345 Hudson Street
12th Floor
New York, NY 10014
United States
1 212 230 2300

U.S. Midwest Region

444 West Lake Street
Suite 2400
Chicago, IL 60606
United States
1 312 419 4900

U.S. Southeast Region

5 Ravinia Dr NE
Atlanta, GA 30346
United States
1 770 206 5300

U.S. Southwest Region

609 Main St.
Suite 2400
Houston, TX 77002
United States
1 713 237 5600

U.S. West Region

101 California Street
Suite 1000
San Francisco, CA 94111
United States
1 415 982 6200

Asia Pacific Region

1 Connaught Road, 28F
Central, Hong Kong

Eurasia Region

Gasheka Street 6
Ste. 820
Moscow 125047
Russia
7 495 785 05 00

European Region

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900

International Offices

Australia

20 Hunter St
Level 10
Sydney, NSW 2000
Australia
61 2 9232 3137

Brazil

Av. das Nações Unidas, 12901
Torre Norte - 6 ° andar
São Paulo 04578-910
Brazil
55 11 5504 7600

Canada

200 King Street West
Suite 1805
Toronto, ON M5H 3T4
Canada
416 595 1949

China

Suite 333, Hyundai Motor Tower
38 Xiaoyun Road, Chaoyang District
Beijing, PRC 100027
China
8610 8453 8855

France

66 Avenue Charles de Gaulle
Neuilly-sur-Seine, IDF 92522
France
33 1 41 45 80 80

Germany

Hines Immobilien GmbH
Joachimsthaler Str. 1
D - 10623 Berlin
Germany
49 30 726241 100

Greece

Voukourestiou 19
Athens 106 71
Greece
30 210 364 7895

India

One Horizon Center
12th Floor
Gurgaon, Haryana 122002
India
91 124 480 2222

Ireland

Block 2, First Floor
Clanwilliam House, Clanwilliam Place
Dublin 2
Ireland
353 1 7999900
Dublin.OfficeAdmin@hines.com

Italy

Via Broletto, 35
Milan 20121
Italy
0039 02 8962921

Japan

Akasaka K Tower Level 4
1-2-7 Motoakasaka, Minato-ku
Tokyo 107-0051
Japan
81 90 9854 5236

Luxembourg

35 F, John F. Kennedy
Luxembourg L-1855

352 264 337 1

Mexico

Torre del Angel
Reforma 350
Mexico D.F. 06600
Mexico
52 55 52428809

The Netherlands

Gustav Mahlerplein 28
Amsterdam, NH 1082 MA
Netherlands
31 6 30 70 81 29

Nordic Countries

Forbindelsesvej 4
Copenhagen 2100
Denmark
44 7815 285 191

Panama

Torre B Piso 15
Torre de las Americas
Punta Pacifica, Panama City
Panama
507 028 20 7375

Poland

Prosta Street 68
Warsaw 00-838
Poland
48 22 351 2400

Russia

Gasheka Street 6
Ste. 820
Moscow 125047
Russia
7 495 785 05 00

Spain

Sor Ángela de la Cruz, 2° - 2° C
Edificio Cuzco III
Madrid 28020
Spain
34 91 703 00 23

South Korea

Glass Tower, Level 20
534 Teheran-ro, Gangnam-gu
Seoul 06181
Republic of Korea
82 2 3439 9141

United Kingdom

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900