TORONTO – The province, in consultation with the City of Toronto, is working on a Transit Oriented community (TOC) development proposal that would transform Exhibition Station into a connected transit hub with new housing, office and retail space.
Exhibition Station would be the western terminus of the Ontario Line. Transit riders will be able to connect to GO Transit, the TTC and the Ontario Line subway.
The location consists of two sites, both of which have been designated for TOC use. They will be developed by the province in line with the stated objectives of the TOC program.
The introduction of Liberty New Street between Dufferin and Strachan, as well as new and enhanced pedestrian access across the rail corridor, will support the re-integration of Liberty Village and Exhibition Place with the surrounding street and block network, indicates the project website. The street will be complemented by courtyards, forecourts, parkettes and privately-owned publicly accessible spaces.
The proposed public area and landscape design draws on the distinct character of the historic former industrial area and builds on the pattern of existing mid-block passageways.
The development would also deliver about 24,100 square metres of office space with the potential to attract major commercial tenants and would accommodate about 988 people and 1,347 jobs in the south end of the Liberty Village Employment Area.
The project also creates over 4,400 square metres of new retail space, which will help activate the public right-of-way and support local economic development.
Furthermore, the proposed development is anticipated to deliver approximately 568 residential units.
Why are we building office space when we have 18% vacancy rate in our office buildings now?