Toronto's Moneymaker
Reports are supposed to be boring, right? Tell it to the crowd at Corus Quay yesterday eager to hear how Waterfront Toronto has benefited from government investment. (Besides paternity tests, can you think of a time you were more eager for results?)
Cityzen Development Group prezSam Crignanoadmitted his company probably wouldn't havebuilt by the water if federal, provincial, and municipal governments didnt pony up cash to develop in the area. But they did, to the tune of$1.26B in public investment. (It's like your parents offering you money to finish your Brussels sprouts, and then you realize you love Brussels sprouts.) Cityzen has several projects in various stages of development in the Queens Quay area.
According to Waterfront Toronto, public investment by Canada, Ontario, and the City of Torontoproduced $3.2B in output for the Canadian economy. Waterfront Toronto CEO John Campbell says This was a historic collaboration. We are focusing on smart city building. A new waterfront is rising before our eyes." The study, he says, shows that waterfront revitalization is a major economic engine in its own right. Also on hand:Federal Minister of Labour Lisa Raitt, Provincial Minister of Infrastructure and Transportation Glen Murray, and Toronto City Councillor and chair of the Economic Development and Culture Committee Michael Thompson.
