City of Toronto is proposing to spend 22 million dollars to purchase 70 condo units in the East Bayfront Community from Hines and Tridel for Affordable housing.

City of Toronto is proposing to spend 22 million dollars to purchase 70 condo units in the East Bayfront Community from Hines and Tridel for Affordable housing. The Money would come from the affordable housing program from the federal government which gave the city 15 million for programs related to the cause. The remaining 7 million would come from the management company which would recoup the money from rents to pay down the mortgage on the balance.

East Bayfront of the Don Lands, and the mouth of the Don River. This is a huge development which will have a major impact on the size of downtown, as these current browfields are remade into idealic living settings for thousands of new residents to Toronto.

Hines Canada - Their East Bay Front Proposal is Huge









This post is regarding the redevelopment of the East Bayfront of the Don Lands, and the mouth of the Don River. This is a huge development which will have a major impact on the size of downtown, as these current browfields are remade into idealic living settings for thousands of new residents to Toronto.

Hines Canada, a subsidary of the US Real Estate Giant Hines, is in the process of preparing a plan for subdivision applications for the East Bayside Lands. They will through the retention of various consultants and advisors to address issues such as traffic, infastructure servicing and community facilities. Part of this process will involve Hines and Waterfront Toronto meeting with City Hall Staff to ensure that the application addresses all issues that have immediate impact on those lands. In support of the Hines Application, Waterfront Toronto will retain consultants for enviromental consultants to ensure that all approvals are in place for the development when construction is set to commence.

The project was to have commenced this year, however due to market conditions not being right at this moment I would look for work to begin sometime in late 2013 with sales of some condo projects beginning at that time as well.