From WT CEO's Report to end-June meeting:
Work is ongoing on the subdivision application for Bayside, with a target submission date of the end of July. As part of this process, Hines and Waterfront Toronto (“WT”) will be hosting a stakeholder meeting prior to submission. On a going forward basis, the Plan of Subdivision process is a statutory process that will involve public engagement and consultation throughout. Assuming traditional processing timeframes and an overall support for the plan, it is expected that draft plan approval would be granted in the spring of 2012, that servicing of the first phase of the project will be shortly thereafter and, subject to market conditions, the first buildings could be under construction as early as 2013. In order to meet these timelines it is anticipated that the Canpar warehouse will be demolished this fall, while work on the reconfiguration of a portion of the temporary Corus parking lot is already underway.
Hines has also indicated a desire to commence marketing of their first commercial building, given the long lead times for such a project, in the next month or so. Marketing of the first residential building will not begin until the spring of next year.