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Toronto capital budget proposal includes nearly $143 million for waterfront redevelopment

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by Daily Commercial News

Staff from the City of Toronto presented a proposed tax-supported budget to the budget committee. The document includes a proposed $14.8-billion capital budget for 2012-21, which includes bicycle path, library and bridge construction projects, plus two separate proposals for waterfront redevelopment with a combined total of $142.625 million.

Staff from the City of Toronto presented a proposed tax-supported budget to the budget committee Monday. The document includes a proposed $14.8-billion capital budget for 2012-21.

Both the 2012 operating budget and 2012-21 capital budget presented to the budget committee will be reviewed and voted on by the full council January 17 through 19.

The capital budget includes two separate proposals for waterfront redevelopment with a combined total of $142.625 million.

The presentation prepared by city staff includes $137.477 million from 2012-16 to develop the West Don Lands and East Bayfront precincts, which are located west of the Don River and north of the shore of Lake Ontario and designated for conversion from brownfield to mixed use by Waterfront Toronto. That total also includes a Queens Quay Revitalization. In addition, staff are proposing $5.148 million from 2012 through 2016 to develop other waterfront sites including Port Union, Sherbourne and Don River Park.


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Other big-ticket items in the 2012-21 capital budget proposal include:

• $87.209 million over 10 years for cycling infrastructure, including the completion of up to 100 kilometres of off-street bicycle paths, 80 kilometres of on-street connections for cyclists and 8,000 new bike parking spaces;

• Nearly $20 million over two years to revitalize Nathan Phillips Square, so the public space in front of City Hall at Queen and Bay Streets can host a greater number and variety of public activities;


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• $17.942 million in 2013 to construct a pedestrian and cycling bridge over the Canadian National Railway tracks between Strachan Avenue and Bathurst Street near the historic Fort York;


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• $8.31 million from 2015 through 2015 to construct the Fort York/Bathurst Library at Fort York Boulevard and Bathurst Street, a stone’s throw southeast of historic Fort York near the CityPlace cluster of high-rise condominiums; and


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• $8.067 million over three years for the construction of a library in the Scarborough Civic Centre area, near McCowan Avenue and Highway 401.


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The capital budget also includes a plan to redevelop the Six Points Interchange, where Kipling Avenue, Dundas and Bloor Streets meet about 15 kilometres west of the downtown.


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DCN DIGITAL MEDIA

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