Waterfront Toronto announced today that the development team of Urban Capital Property Group, Toronto and Redquartz Development, Dublin has been selected to lead the development of the first phase of West Don Lands, Toronto’s first new waterfront neighbourhood.
The first phase of West Don Lands revitalization, known as River Square Neighbourhood, includes 850 units of housing and is located in the area that runs from King Street in the north to the new Don River Park in the south and from St. Lawrence Street in the west to Bayview Avenue in the east.
The Urban Capital Property Group and Redquartz Development team also includes Montreal-based Saucier + Perrotte Architects, who will be providing design services, and Waterloo-based Enermodal Engineering, who will be ensuring that the developments achieve a LEED Gold benchmark, a key objectives in Waterfront Toronto’s overall scheme.
In June 2007, Waterfront Toronto launched the developer selection process with the issuance of a Request for Qualifications (RFQ). Five teams were short-listed in September of 2007 and asked to respond to a full Request for Proposals (RFP) in February 2008. A Steering Committee comprised of members from Waterfront Toronto as well as external sustainability, development and design experts evaluated the RFQ’s and RFP’s. The entire selection process was overseen by provincial Integrity Commissioner, The Honourable Justice Coulter A. Osborne.
At full build-out, West Don Lands will be a vibrant, green neighbourhood that will be home to 10,000 people and will feature pedestrian friendly streets, exceptional parks and public spaces, market and affordable housing, public transit within a five minute walk of all residences, schools, childcare and recreation centres.
The revitalization of West Don Lands will proceed over the next 10-12 years in four phases. The sales launch for Phase One is expected for January 2009, with construction scheduled to begin in 2010, and first phase occupancy in 2011.
In addition to the 850 market housing units, Phase One development also includes 130 units of affordable housing that is being developed by Toronto Community Housing Corporation. Construction is expected to start with this project in the fall of 2008.
The announcement marks the first step towards a $250-300 million private-sector investment in waterfront revitalization and demonstrates private-sector commitment to partner with Waterfront Toronto.