There is no question that construction, a key indicator of economic vitality, is booming in Toronto. The city is also benefiting from a surge of investment in public infrastructure and transit to meet the needs of this rapidly expanding region.
The LEED Gold-designated Southcore Financial Centre has recently increased premium office space in downtown Toronto by 1.4 million square feet and Toronto currently has more than 9 million square feet (840 thousand square metres) of new office projects under development. The 49 storey CIBC Square 1, scheduled to open end of 2020 will be home to the new Microsoft headquarters in downtown Toronto. The Well, a mixed-use development along Front Street will include one million square feet of rental space including a 38-storey office tower at Front and Spadina. The 46-storey development at 160 Front Street West tower, scheduled to open at the end of 2022, will bring an additional 1.2 million square feet of office space to Front and Simcoe.
Union Station, Canada’s busiest, most important multi-modal passenger transportation hub has undergone a major redevelopment. Toronto’s waterfront revitalization is the largest urban renewal project currently underway in North America. The ground-breaking Regent Park Revitalization project is transforming the former 69-acre social-housing development into a self-sufficient mixed income, multi-use community.
In the past 40 years, Toronto’s downtown population doubled and one-third of all jobs in the city are now within the core.
The City of Toronto Planning division works with communities to create a green, liveable city that fosters creativity and opportunity. Learn more about Toronto’s City Planning.
With 120 cranes at work, Toronto has the largest number of major construction projects among the 13 largest cities in North America
–RLB Crane Index (North America), July 2019
Metropolitan Toronto’s growth of 125,298 persons during the 12 months ending July 1, 2018 was the second largest growth among urban centres in North America.
–Ryerson University, Centre for Urban Research and Land Development