Tedco to remove rail lines obstructing Queens' Quay
A press release was issued by Cityhall this afternoon with great news for bicyclists and pedestrians on the waterfront. Find it below.
TORONTO ECONOMIC DEVELOPMENT CORPORATION
media release
Toronto – July 17, 2008:
TEDCO and Redpath Sugar Agree to Improve Public Realm
The Toronto Economic Development Corporation (TEDCO) announced today that it has entered into an agreement with Redpath Sugar Ltd. to end its lease of TEDCO’s railway lines along Queen’s Quay Blvd. East.
Redpath agreed to give up its lease of the railway lines in a generous effort to support the City of Toronto and all potential users of the waterfront. With the railway tracks removed, the eastern portion of Queen’s Quay Blvd. will become more accessible to bicycle paths, be more pedestrian-friendly and remove barriers for redevelopment along the waterfront.
As part of revitalization of the surrounding area, Redpath Sugar will remain part of the City’s mixed-use waterfront as reflected in the Central Waterfront Plan confirmed by City Council. This agreement allows further redevelopment of the East Bayfront area to proceed and will also help accommodate the new Jarvis Slip park to be named Sugar Beach.
“With this agreement TEDCO continues to help make revitalization of the waterfront a reality,†said Jeffrey Steiner, President and CEO of TEDCO. “Part of the dynamic of a mixed-use waterfront is the fact that we have active, interesting and productive employment uses in close proximity to institutional, residential and commercial development.â€
Jonathan Bamberger, President of Redpath Sugar Ltd. said, “We have worked hard with TEDCO to ensure the development of a vibrant waterfront as well as the continuity of our business. Losing the rail line is not positive for us but we felt the benefit to the City outweighed our concerns. We believe that this agreement is in the public interest and hope that careful thought is given to the interface of different types of waterfront users.â€
“The city’s precinct plan did not specifically call for the removal of the rail lines so Redpath has been a good and cooperative corporate citizen in contributing to a better public realmâ€, TEDCO’s Steiner added.
The East Bayfront area consists of a mix of public and private land between Jarvis Street and Parliament Street, south of Lakeshore Blvd. The area will be transformed into a mixed-use community with employment, institutional, cultural and residential uses as part of a precinct plan developed by Waterfront Toronto.
TEDCO’s Corus Entertainment office and broadcast building is currently under construction just south of Queens Quay East which will employ more than 1,300 knowledge workers with occupancy slated for the fall of 2009.
TEDCO is the principal redevelopment corporation for the City of Toronto focused on commercial, industrial and mixed-use projects. Incorporated in 1986 as an Ontario Business Corporation, TEDCO plays a key role in brokering private and public sector partnerships to advance city building initiatives.
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For more information:
Eva Varangu
Director, Communications & Public Affairs
Toronto Economic Development Corporation (TEDCO)
416.981.3869
evarangu@tedco.ca
www.tedco.ca