Quayside will be a master-planned mixed-use complete community that builds on the development in the adjacent Bayside and Dockside lands, and the emerging Keating Channel West Precinct. Quayside is a 4.9 hectare parcel of land on Toronto’s waterfront, located at Queens Quay East and Parliament Street.
An estimated 6,100 people will live in 3,500 housing units in Quayside and the area’s commercial space will support approximately 1,600 jobs. A key driver for Quayside is the provision of affordable rental housing units, estimated to deliver between 800 and 875 affordable rental units and approximately, a further 200 affordable ownership units. In addition, a new park and public realm, streets and infrastructure will be built.
Waterfront Toronto estimates that Quayside will be developed between 2022 and 2031.
A staff report and Business Implementation Plan was adopted at the July 19, 2022 City Council meeting.
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