TORONTO -- Toronto Mayor Rob Ford's executive committee approved a 30-year revitalization plan for a massive waterfront site southeast of the city's downtown on Monday.
City staff's final report on the Port Lands was unanimously passed one year after city council endorsed a protocol for collaboration between the city, Waterfront Toronto and the Toronto Port Lands Company.
The plan will now go to council for final approval in October.
Revitalizing the sprawling site is expected to cost $1.9 billion, with most of the funding coming from the private sector, land sales, and development charges.
The plan envisions a neighbourhood with 8,700 housing units, office and retail space, and a 375-room hotel.
The plan recommended that phased development should be focused on three areas in the site south of Lake Shore Boulevard East: Cousins and Polson Quays on the western edge of the site, and the Film Studio district on the eastern part of the site.
Coun. Paula Fletcher, whose riding includes the Port Lands site, expressed her enthusiasm after the plan was passed.
"We're moving in the right direction," she said. "The overall time frame is still very long, but we're able to accelerate the start, the management of the phases, and the precinct planning."
Fletcher also addressed recent resistance to the development plan from Lafarge, a cement firm that has operated out of the Port Lands for over 80 years.
In a letter to the mayor, councillors, and the president of Waterfront Toronto which was received on Friday, the cement company expressed concern that it hadn't been properly considered in the staff report.
"As a landowner and long-time industrial steward at the Port, Lafarge intends to remain at our current location and any redevelopment must reflect this," the letter stated.
Fletcher introduced a motion requesting that the company's concerns be addressed during the planning process.
The executive committee also passed motions on Monday to strengthen their commitment to the naturalization of the Don River as development progresses.
The Port Lands project had initially been put on hold because the area needed to be protected from Don River flooding, which came with a $643-million price tag.
Officials have recently said that flood-proofing the area can be done for $130 million less than anticipated.
Development of the Port Lands came under the spotlight in August last year when the mayor's brother, Coun. Doug Ford, put forward his own proposal for the site. His plan suggested the city take control of redeveloping the area with a marina, a Ferris wheel, a shopping zone and a sports centre on the waterfront.
That plan did not get the support of city council.
