Toronto’s waterfront is getting nearly $1 billion for new infrastructure to support thousands of new homes to be constructed over the next several years.
On Tuesday, officials from all three levels of government unveiled $975 million — split equally between the city, province, and federal government — for infrastructure, such as sewers and pipes, to serve the 14,000 new homes planned for Quayside and Ookwemin Minising, formerly known as Villiers Island.
“If you don’t have the infrastructure, you don’t have the roads and the pipes and the sewage, how are you going to build these homes? That’s why today’s announcement is so significant,” Mayor Olivia Chow said.
Construction of the necessary infrastructure will begin soon, with homebuilding expected to start in 2026, and residents moving in by 2031.
Ottawa is also chipping in another $200 million to further floodproof land east of the Don River, matching earlier money from the city and Queen’s Park.
Despite the uncertainty created by the looming federal and provincial elections, Chow said the money is guaranteed.
The money “is coming to Waterfront Toronto as we speak,” she said.
Chow also noted that the 14,000 new homes will house at least 25,000 people, emphasizing the need for better access to the neighbourhood.
“We need to have some ways to help people get in and out,” she said.
Tuesday’s announcement, however, didn’t mention any provincial or federal money for the Waterfront East LRT route, which would serve the eastern area of the waterfront from Bay Street to the Port Lands.
“It’s part of the negotiation,” Chow said. “We’ll continue to work towards it while we’re waiting.”
While the city has already earmarked nearly $140 million for the LRT’s design, it’s still seeking additional funding from the province and federal government to help cover the project’s $2.6 billion price tag.
In the meantime, city staff are working on a proposal to implement dedicated bus lanes along Queens Quay that could be up for council approval in the coming months.
