Economic Development

We have provided some information below about what is in the MIDP to help inform your feedback. The survey questions follow at the bottom of this page. Once you have filled in your answers, please click “Submit." You can then either click “Next Section” to continue taking the survey or click “Done” to finish.

Waterfront Toronto asked for:

  • A plan focused on the urban innovation sector—including cleantech, building materials, and broader urban innovation related sectors—that expands the existing waterfront innovation corridor

Sidewalk Labs proposed:

  • The creation of an “urban innovation cluster” along the waterfront

  • Putting forward $10 million CAD in initial financing for an independent, non-profit Urban Innovation Institute. This institute would support both commercial product development and applied research

  • Putting forward $10 million CAD in seed funding for an early-stage urban innovation venture fund focused on local start ups. Sidewalk Labs has indicated that these initiatives, together with the Google Canadian Headquarters, could create the foundations for an urban innovation cluster

Other elements of Sidewalk Labs’ proposals:

  • Sidewalk Labs asserts their proposal could facilitate the acceleration of development in the Port Lands by 10 years and Sidewalk Labs has indicated that it would be possible to complete 77 hectares (190 acres) of development by 2040

  • The economic development outcomes in the Draft MIDP assumes accelerated public investment in the necessary municipal infrastructure (including the Waterfront Light Rail Transit line). Sidewalk Labs has proposed optional upfront financing to ensure that this infrastructure is built to meet the proposed development schedule

Map of the proposed IDEA District

Map of the proposed IDEA District

Waterfront Toronto's Note to Reader Review:

  • The accelerated Port Lands development timeline would require public investment in municipal infrastructure that is greater than currently planned

  • If the optional financing proposed by Sidewalk Labs is accepted, one method of repayment could be that municipal proceeds—such as development charges, incremental property tax and incremental land value—that are generated in the project area be used for repayment. Sidewalk Labs asserts that in this scenario, the revenues to government would be greater than at the base-case. This is only one idea around municipal infrastructure financing and other options could be explored

Waterfront Toronto’s early thinking on risks to consider:

  • Sidewalk Labs’ projected development timeline and their predicted government revenues associated with this are contingent on factors outside of their control

  • Sidewalk Labs’ relatively modest initial seed capital for the Innovation Venture Capital Fund creates a dependence on raising additional funds and uncertainty on whether the desired positive impact on an innovation ecosystem will be achieved. A similar risk pertains to the modest initial seed capital for the Urban Innovation Institute 

Waterfront Toronto’s questions for you about Economic Development

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How receptive are you to exploring this proposal from Sidewalk Labs?

Interested in taking a deeper dive into additional questions about Sidewalk Labs’ proposals for Economic Development? Fill out the survey form below to provide your feedback.

Additional Questions about Economic Development

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