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TORONTO \u2013 The Governments of Canada, Ontario and the City of Toronto have announced $975 million to accelerate the delivery of Waterfront Toronto\u2019s revitalization plan.\u00a0<\/span>\u00a0<\/span><\/p>\n According to a release, the plan will help create over 14,000 new homes along Toronto\u2019s waterfront at Quayside and Ookwemin Minising (formerly Villiers Island). Once complete, this investment will create an estimated 100,000 skilled trades jobs on Toronto\u2019s waterfront and add $13.2 billion to the economy.<\/span>\u00a0<\/span><\/p>\n To prepare for the construction of the new homes beginning in 2026, site servicing work will begin shortly with the goal of first occupancy in 2031.\u00a0<\/span>\u00a0<\/span><\/p>\n This work represents the next phase of waterfront revitalization, the province states, and builds on previous tri-government investments including the $1.4 billion Port Lands Flood Protection Project. Waterfront Toronto will continue as the revitalization lead for this work.<\/span>\u00a0<\/span><\/p>\n \u201cAs never before, cities are competing to attract investment, talent and tourism dollars. We\u2019ve seen what can be accomplished when all orders of government work together to make the best of life and the best of Canada converge. We look forward to building upon our 25 years of transformative revitalization work by delivering the next phase of the waterfront in partnership with governments.\u201d said Jack Winberg, board chair of Waterfront Toronto, in a statement.<\/span>\u00a0<\/span><\/p>\n The breakdown in funding is distributed equally with the city, province and federal government each contributing $325 million.\u00a0<\/span>\u00a0<\/span><\/p>\n The Government of Canada is also investing an additional $200 million to match earlier contributions from the Province of Ontario and the City of Toronto. This will support the completion of the Broadview Eastern Flood Protection project.<\/span><\/p>\n<\/p><\/div>\n