Toronto Mayor John Tory, Deputy Mayor Pam McConnell, Waterfront Toronto’s vice president of Development Meg Davis, Hines managing director Avi Tesciuba, Tridel president Leo DelZotto, and Artscape CEO Tim Jones gathered to break ground on the first of eight buildings in the 13-acre, $910-million Bayside Toronto development, which is Waterfront Toronto’s largest private-sector development project to date and will connect Toronto’s downtown to the water’s edge along Queens Quay East.
When development is complete, there will be two new office buildings with 400,000 square feet of space for more than 3,000 jobs, and 1,800 units in six residential buildings. One of those building will be the Aqualina. The start of construction is an important milestone for purchasers as well as the Hines/Tridel development team that recently launched Aquavista, the second residential project in Bayside. Aquavista will feature 80 affordable rental units to be operated by Toronto not-for-profit Artscape.
The larger Bayside development aims to be Toronto’s first LEED-ND Gold neighborhood, and all buildings will target LEED Gold certification, with both Aqualina and Aquavista targeting LEED Platinum certification. Waterfront Toronto’s policy provides for at least 20 per cent of all residential units to meet City standards for affordable rental units, while at least 7.5 per cent will also be designated market rate rental units. So far, 80 affordable rental housing units are planned for Bayside, with those tenants paying subsidized rates for access to Beanfield Metroconnect’s ultra-high speed broadband network.
Located on the east side of Sherbourne Common, Aqualina is designed by Arquitectonica. It will be defined by a series of distinctive cubes made of glass and steel with angled windows and balconies to maximize views of the skyline and lake. Ranging from one-bedroom to family-friendly three-bedroom residences, its 362 condominium suites will be ready for occupancy in July of 2017, with final completion scheduled for September of 2017.