Waterfront Revitalization Initiative Budget
The Waterfront Secretariat leads the Toronto Waterfront Revitalization Initiative on behalf of the City. Secretariat staff work with federal and provincial partners and Waterfront Toronto to ensure the right structures, agreements, and supports are in place to advance revitalization in the Designated Waterfront Area. The Secretariat’s key functions include administering project funding, approving long-term funding proposals, coordinating development activities, obtaining approvals, and minimizing risk exposure for the government.
The revitalization of Toronto’s waterfront is the largest urban redevelopment project underway in North America; it is one of the world’s largest waterfront revitalization efforts. Through revitalization, the initiative unlocks underused land in Toronto’s waterfront and transforms it into vibrant and sustainable mixed-use communities.
Download the Budget Analyst Notes for Waterfront Revitalization Initiative for detailed information on service levels, key initiatives, challenges and performance measures. You can also review budget highlights below.
Capital Budget and Plan
Projects in the Waterfront Revitalization Initiative’s $366.9 million 10-Year Capital Plan are considered growth-related projects as the initiative unlocks underutilized land to new development. Included in the Capital Plan are the following significant projects:
- The Cherry Street Stormwater and Lakefilling project.
- The East Bayfront Environment Reserve Fund.
- The East Bayfront Local Infrastructure Charge.
- The East Bayfront Public Art Plan.
- The Port Lands Flood Protection project.
- The Precinct Implementation Projects.
- The Regional Sports Centre.
- Implementation of the Port Lands Flood Protection within the time constraints to retain the funding from the Tri-government Contribution Agreement signed on May 2018.
- Coordination of the infrastructure projects in the Lower Don.
- Continued implementation of Waterfront 1.0 projects in the West Don Lands and East Bayfront.
- Clarification of next steps for the Waterfront Revitalization Initiative.
- Securing additional funding for the Waterfront Transit through the Federal Public Transit Infrastructure Fund – Phase 2.
- Continuing to work closely with Waterfront Toronto and partners to oversee revitalization in the Port Lands and in the Lower Don.
- Delivery of a child care and recreation centre in the East Bayfront community.
- Staff to report to Council in 2019 on the next phase of the waterfront revitalization, as well as the Quayside proposal.
Highlights – 1 Year
- $5.160M Continue the infrastructure improvements in the East Bayfront and adding public art.
- $5.0M Complete the Cherry Street Stormwater and Lakefilling to create a new landmass and stabilize the dock walls.
- $0.741M Continue the implementation of infrastructure improvements identified in Waterfront 1.0.
- $0.200M Start the public realm improvement project Leslie Street Greening, adding green space to the east and west side of Leslie Street.
Highlights – 10 Years
- $260.5M Implementation of the lakefilling and flood protection in the Port Lands to unlock underused lands for development.
- $32.311M Addition of a regional sports centre to service the revitalized Port Lands.
- $27.854M Infrastructure development and public art funding in the East Bayfront.
- $19.730M Continuation of the Waterfront 1.0 infrastructure improvements in the East Bayfront, Central Waterfront and West Don Lands.
- $17.091M To construct the Bayside Phase 2 Water’s Edge Promenade.
Find more information on specific City issues, opportunities and challenges in the briefing notes and reports prepared by City staff. Documents will be posted as they become available.
Presentations made to committee and City Council provide an overview of the 2019 City budget. Documents will be posted as they become available.