Quayside will be a master-planned mixed-use complete community that builds on development in the adjacent Bayside and Dockside lands, and the emerging Keating Channel West Precinct. Quayside is a 4.9 hectare area on Toronto’s waterfront, located at Queens Quay East and Parliament Street.
Waterfront Toronto, in collaboration with the City of Toronto, is leading the design and construction of streets, servicing and public spaces to support Quayside revitalization. This includes improvements to Parliament Street (between Lake Shore Blvd and Queens Quay East), Bonnycastle Street, Small Street and Queens Quay East from Bonnycastle to just east of Parliament Street. This also includes new parks and public spaces at the foot of Parliament Street and along either side of Parliament Street, south of Lake Shore Blvd. With the new and improved infrastructure, roads and public realm, five new development blocks will be created.
On June 29 and 30, 2023, the City of Toronto received eight development applications from Waterfront Toronto and their development partner, Quayside Impact Limited Partnership, pertaining to the development of the five Quayside blocks. Applications for 259 Lake Shore Blvd East are for Blocks 1 and 2. Applications for 333 Lake Shore Blvd East are for Blocks 3, 4 and 5.
The development applications propose seven new mixed-use buildings across Blocks 1-4 with a total of 4,634 residential units; 869 of which will be affordable rental units and approximately 200 will be affordable ownership units. The affordable rental housing will ultimately be owned and operated by the City of Toronto in partnership with a not-for-profit housing operator. A key driver for Quayside is the provision of affordable rental housing as well as improvements to create a publicly accessible inclusive waterfront. Block 5 is being planned as a future mixed institutional site that will be home to a new public elementary school as well as a potential cultural institution. Waterfront Toronto’s plans for Block 5 are in the early stages of consideration and will be guided by input from the Mississaugas of the Credit First Nation, Toronto Lands Corporation and Toronto District School Board. To review details of the Quayside development applications, please visit: www.toronto.ca/259LakeShoreBlvdE and www.toronto.ca/333LakeShoreBlvdE.
Waterfront Toronto estimates that Quayside will be developed between 2024 and 2034
A staff report and Business Implementation Plan to guide and support Quayside redevelopment was adopted at the July 19, 2022 City Council meeting. City staff will be reporting back to Council in 2024 on the progress of the affordable housing delivery, development applications and land transactions associated with Quayside.
Quayside is a 4.9 hectare parcel of land on Toronto’s waterfront, located at Queens Quay East and Parliament Street. The majority of the site is owned by Waterfront Toronto. However, it also includes lands owned by the City of Toronto and CreateTO (through the Toronto Economic Development Corporation operating as T.P.L.C.). In addition, the property at 307 Lake Shore Boulevard East which abuts Block 3B to the north is privately owned by Plaza Partners.
Quayside straddles two precincts: Blocks 1 and 2 are sited within the East Bayfront Precinct and Blocks 3B, 4 and 5 are within the Keating Channel West Precinct. Refer to below maps for details.
The Quayside Project will take place in the following phases:
Waterfront Toronto estimates that Quayside will be developed between 2022 and 2031.
Over the past year, Waterfront Toronto has conducted a procurement process to secure a development partner for Quayside. This included an R.F.Q. issued in March 2021 and an R.F.P. issued in July 2021. Ten submissions were received in response to the R.F.Q. and a shortlist of four proponents were selected to participate in the R.F.P. process.
To ensure that the process was open, fair, transparent and equitable to all proponents, Waterfront Toronto retained The Right Honourable Justice Beverly McLachlin, former Chief Justice, as a fairness monitor to provide independent attestation that the process was conducted fairly.
On February 15, 2022, Waterfront Toronto’s Board of Directors approved a recommendation from its Investment and Real Estate sub-committee with the Preferred Proponent known as ‘Quayside Impact Limited Partnership’ (QILP), led by Dream Unlimited and Great Gulf Group. Terms relating to the development of the project are set out in a Project Agreement between Waterfront Toronto, as revitalization lead with responsibility for the overall coordination of the project and infrastructure, and QILP as Development Lead. It is anticipated that the Project Agreement (PA) will be finalized and executed in fall 2022, after which, the Preferred Proponent will become the Development Partner.
More information about the proposal can be found on the Waterfront Toronto website.
The City has multiple roles and interests in Quayside: as land owner, as owner/operator of municipal infrastructure, parkland and services, as provider of affordable housing and as the local planning authority.
Staff Reports
Applicable Planning Policy