The federal, provincial, and City of Toronto governments are investing a combined $975 million to expedite the development of the waterfront, resulting in over 14,000 new homes, including affordable housing. This initiative is expected to generate approximately 100,000 skilled trades jobs and add $13.2 billion to the economy. Construction is set to begin in 2026, aiming for an opening to residents by 2031. Mayor Olivia Chow emphasized the significant impact on housing and job creation during the announcement, reiterating the commitment to affordable housing options.
Once complete, this investment will create an estimated 100,000 skilled trades jobs on Toronto's waterfront and add $13.2 billion to the economy.
It means housing, good jobs, people coming here, coming to life.
Each level of government is contributing $325 million, with construction expected to begin in 2026.
Depending on the area, between 20 to 30 per cent of the new housing units will meet the city's definition of affordable.
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