A few weeks ago, we spoke about the dramatic change that Toronto's East Bayfront has undergone over the last two decades. It's now a place. I also shared a time-lapse video from Waterfront Toronto showing how the Parliament Slip was landfilled in order to improve the street network in this area. If you missed it (and you like to nerd out on construction), it's worth watching.
In addition to this, Waterfront Toronto has (just?) released this interactive website showing in more detail what's planned for the Quayside area. And if you make it all the way to the end of the experience, you'll land on the below image, which shows some towers and the site earmarked for a school and potential cultural destination.
Clicking on the site leads to this pop-up:
Schools are obviously critical. Education is the number one predictor of household wealth. Build it. But I also think it's important that we take advantage of this opportunity to build a truly remarkable cultural destination on Toronto's doorstep. This is an opportunity for a globally recognized symbol that elevates the city's brand, drives tourism, and serves as an economic development catalyst.
So I would like to encourage those in charge to take this seriously. (If Globizen can help in any way, give us a call.) The right way to do it would be to host an international design competition and put the challenge to the world's best architects. This is not the time or place to be timid. Rather, it's the time and place to beat our chests. This could be a Sydney Opera House or Bilbao moment.
Actually, it could be something even greater: The Toronto Effect.
Cover photo by Antonio Gabola on Unsplash
In June of this year, Sidewalk Labs released its draft Master Innovation and Development Plan (MIDP) for Toronto's eastern waterfront. I wrote about it here. It was a draft document that was subject to further discussion and refinement, with October 31, 2019 being an important deadline for a lot of that to happen.
Some of the critical issues included project scope (just Quayside?), the possibility of a Waterfront LRT (needs to happen), data governance (who owns and manages the data that will be generated by this new smart city?) and, of course, land value. How much is Quayside worth?
A number of these key issues have now been "realigned," including the land value piece. Waterfront Toronto and Sidewalks Labs have agreed on a fair market value of $590 million (before accounting for any investments that will be required in order to achieve Waterfront Toronto's goals).
For a summary of the critical issues and what has been agreed to, click here. With these items now firmed up, Waterfront Toronto's board voted unanimously to proceed to the next phase. The next critical date is March 31, 2020, which is when the project will seek final approval. Mark your calendars.
A few weeks ago, we spoke about the dramatic change that Toronto's East Bayfront has undergone over the last two decades. It's now a place. I also shared a time-lapse video from Waterfront Toronto showing how the Parliament Slip was landfilled in order to improve the street network in this area. If you missed it (and you like to nerd out on construction), it's worth watching.
In addition to this, Waterfront Toronto has (just?) released this interactive website showing in more detail what's planned for the Quayside area. And if you make it all the way to the end of the experience, you'll land on the below image, which shows some towers and the site earmarked for a school and potential cultural destination.
Clicking on the site leads to this pop-up:
Schools are obviously critical. Education is the number one predictor of household wealth. Build it. But I also think it's important that we take advantage of this opportunity to build a truly remarkable cultural destination on Toronto's doorstep. This is an opportunity for a globally recognized symbol that elevates the city's brand, drives tourism, and serves as an economic development catalyst.
So I would like to encourage those in charge to take this seriously. (If Globizen can help in any way, give us a call.) The right way to do it would be to host an international design competition and put the challenge to the world's best architects. This is not the time or place to be timid. Rather, it's the time and place to beat our chests. This could be a Sydney Opera House or Bilbao moment.
Actually, it could be something even greater: The Toronto Effect.
Cover photo by Antonio Gabola on Unsplash
In June of this year, Sidewalk Labs released its draft Master Innovation and Development Plan (MIDP) for Toronto's eastern waterfront. I wrote about it here. It was a draft document that was subject to further discussion and refinement, with October 31, 2019 being an important deadline for a lot of that to happen.
Some of the critical issues included project scope (just Quayside?), the possibility of a Waterfront LRT (needs to happen), data governance (who owns and manages the data that will be generated by this new smart city?) and, of course, land value. How much is Quayside worth?
A number of these key issues have now been "realigned," including the land value piece. Waterfront Toronto and Sidewalks Labs have agreed on a fair market value of $590 million (before accounting for any investments that will be required in order to achieve Waterfront Toronto's goals).
For a summary of the critical issues and what has been agreed to, click here. With these items now firmed up, Waterfront Toronto's board voted unanimously to proceed to the next phase. The next critical date is March 31, 2020, which is when the project will seek final approval. Mark your calendars.
Today I am going to talk about 3 things that recently happened and/or that are on my mind.
Sidewalk Labs pulled out of Toronto. I think this is sad. A lot of people have said that they're surprised, but not surprised. The official reason is that this unprecedented environment has made it financially infeasible for them to develop the 12-acre site, while still adhering to their core principles. I don't have any inside knowledge of the situation, but I can't help but think that this is probably just an opportune excuse. They were getting beat up pretty badly by Toronto on all fronts, even though they had put forward an incredibly ambitious development proposal. As I said before, I can't imagine many (or any) "conventional" developers coming forward with something like this. The last plan I saw was 1/3 non-residential, and 40% of the residential component was to be priced below market. And never mind all of the other innovations that were being contemplated.
In other tech news, Uber just led a $170 million investment in Lime (the micromobility scooter company). I think this is smart -- both from an overall mobility standpoint and, selfishly, as a shareowner of $UBER. It is being reported that this round of investment values Lime at about $510 million. This is a 79% decline from April 2019 when it raised its last round. So presumably, Uber is getting a pretty good deal here. The bet is that the urban landscape demands multi-modal transportation solutions, everything from bikes and scooters to cars and public transit. There is also an argument to be made that in the short-term, our post-pandemic world is going to gravitate toward individual mobility and away from things like public transit. I've heard a few people say that, as we re-open the global economy and try to maintain social distancing, we're going to face two major mobility bottlenecks: transit and elevators. Sounds like more testing would be a prudent idea.
Above, I was very careful to say "in the short-term" because I think the narrative that is emerging around the demise of urban density is entirely overblown. Few of us are clamoring to jump back into a mosh pit right now (perhaps a metaphorical mosh pit), but I also don't believe that we will suddenly look to sprawling Brasilia as a source of urban inspiration. While it is true that "disease did shape architecture in the 20th century" (Alex Bozikovic wrote a good piece on this over the weekend) and that there have been oscillations in terms of how we view urbanity, I also know that this isn't the first pandemic that our cities have lived through. The Hong Kong flu of 1968 is thought to have killed one million people around the world after, allegedly, emerging in one of the densest cities ever created. Hong Kong's relationship with Beijing is a tenuous one right now, but it still remains one of the world's most important global cities.
Perhaps cities are more resilient than we give them credit for.
Photo by Touann Gatouillat Vergos on Unsplash
Today I am going to talk about 3 things that recently happened and/or that are on my mind.
Sidewalk Labs pulled out of Toronto. I think this is sad. A lot of people have said that they're surprised, but not surprised. The official reason is that this unprecedented environment has made it financially infeasible for them to develop the 12-acre site, while still adhering to their core principles. I don't have any inside knowledge of the situation, but I can't help but think that this is probably just an opportune excuse. They were getting beat up pretty badly by Toronto on all fronts, even though they had put forward an incredibly ambitious development proposal. As I said before, I can't imagine many (or any) "conventional" developers coming forward with something like this. The last plan I saw was 1/3 non-residential, and 40% of the residential component was to be priced below market. And never mind all of the other innovations that were being contemplated.
In other tech news, Uber just led a $170 million investment in Lime (the micromobility scooter company). I think this is smart -- both from an overall mobility standpoint and, selfishly, as a shareowner of $UBER. It is being reported that this round of investment values Lime at about $510 million. This is a 79% decline from April 2019 when it raised its last round. So presumably, Uber is getting a pretty good deal here. The bet is that the urban landscape demands multi-modal transportation solutions, everything from bikes and scooters to cars and public transit. There is also an argument to be made that in the short-term, our post-pandemic world is going to gravitate toward individual mobility and away from things like public transit. I've heard a few people say that, as we re-open the global economy and try to maintain social distancing, we're going to face two major mobility bottlenecks: transit and elevators. Sounds like more testing would be a prudent idea.
Above, I was very careful to say "in the short-term" because I think the narrative that is emerging around the demise of urban density is entirely overblown. Few of us are clamoring to jump back into a mosh pit right now (perhaps a metaphorical mosh pit), but I also don't believe that we will suddenly look to sprawling Brasilia as a source of urban inspiration. While it is true that "disease did shape architecture in the 20th century" (Alex Bozikovic wrote a good piece on this over the weekend) and that there have been oscillations in terms of how we view urbanity, I also know that this isn't the first pandemic that our cities have lived through. The Hong Kong flu of 1968 is thought to have killed one million people around the world after, allegedly, emerging in one of the densest cities ever created. Hong Kong's relationship with Beijing is a tenuous one right now, but it still remains one of the world's most important global cities.
Perhaps cities are more resilient than we give them credit for.
Photo by Touann Gatouillat Vergos on Unsplash
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