Worldwide call for development of a waterfront in Canada

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Worldwide call for development of a waterfront in Canada

Ontario's government has launched a worldwide search to find a private sector partner, or partners, with the best, most remarkable concepts to transform Ontario Place into the world-class destination. Ontario Place is a 155 acres waterfront property with entertainment, park, marina, etc., located at the heart of the City of Toronto. 

The Call for Development was issued by Government´s advisors KPMG and Colliers

The Government is seeking a visionary partner (or partners) with concepts that will deliver transformational change, aligned with the Government’s vision for the Site as a world-class, year-round destination with global appeal – attracting millions of local, provincial, national and international visitors to its landmark entertainment, sports, commercial, recreation and / or leisure attractions. The scale and profile of the Site demand big, bold ideas, and Ontario is open for business. The Site includes up to 68 acres of land and 87 acres of water, which provides the rare opportunity to comprehensively develop and reinvent the entire Site.

The province is encouraging interested parties to take a fresh look at this unique waterfront asset. The province is seeking transformational ideas that are financially viable from partner(s) who have the right experience and capacity to design, implement and operate their development on the site. Residential developments or casinos will not be considered.

Development concepts are encouraged to be ambitious and based on the following parameters:

  • The Government will enter into a long-term land lease with selected partner or partners.
  • Proposals may be for a portion of the Site or for the entire Site.
  • Across the Site, a minimum of 7.5 acres of parkland must be provided. Submissions that propose the use of any part of the existing Trillium Park will be required to develop new park space of equivalent size.
  • Other than residential development and casino uses, which will not be considered, there are no limitations
    on proposed land uses.
  • Proposals that require building capital or operating grants from the Government will not be considered.
  • Reconfiguration of the Site and/or adaptive re-use of existing structures may be contemplated.

This Call for Development follows the government's invitation in January to interested parties to submit their ideas early. Submissions should be commercially feasible and reflect the province's vision for the site as a spectacular destination that could include sport and entertainment landmarks, public spaces and parks, recreational facilities, as well as retail.

The timeline for the proposed project is the following: 

  • Submission Deadline: September 3, 2019
  • Assessment and Due Diligence of Submissions: September - November 2019
  • Target Selection Date: Fall 2019
  • Commercial Negotiations and Closing: 2020

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