A major condo developer and Waterfront Toronto will team up to revitalize the city’s shoreline with a new project.
Menkes Development Ltd. was chosen to work with Waterfront Toronto to create the Waterfront Innovation Centre, a 350,000-square-foot commercial space next to Sugar Beach in the city’s new East Bayfront Community.
The development project, which will make use of an ultra high-speed broadband network, is seen to be a major development for the private sector, due to its ability to streamline work flow and bring more industries closer to where people live.
“Because of its location within the new East Bayfront community, potential employees in the Waterfront Innovation Centre will have the opportunity to live in the same community where they work, fulfilling a growing demand in Toronto for downtown live-work-play neighbourhoods,” a press release for Waterfront Toronto said on Feb. 6.
The innovation centre aims to meet the demand for specialized work-spaces. The centre is expected to attract more than 2,000 employees to Toronto’s shoreline, contributing to the next step in commercial work environments and redefine how employees collaborate with member in other fields.
The Waterfront Innovation Centre will add to a $1.27-billion investment to revitalize the city’s waterfront, along with parklands like sugar beach and joint property used by George Brown College and Corus Entertainment.