Long-awaited federal and provincial funding to help the city protect the Port Lands from flooding has been secured, an official in the mayor’s office confirms to CP24.
According to a report in the Toronto Star, the three tiers of government will invest $83 million in remaking the area around the old Essroc quay, located at the western end of the Keating Chanel.
The initiative is believed to be the first step in a more substantial plan to naturalize and reroute the Don River to the middle of the Port Lands between Ship Channel and Keating Channel.
That plan, which is necessary to unlock the surrounding area for redevelopment, carries an estimated $975 million price tag.
The Toronto Star says that the initial $83 million investment will be made with $32.5 million in funding from the federal government and a further $16.3 million from both the city and the province.
“Since coming to office, the mayor has been focused on getting this project going,” John Tory’s spokesperson Amanda Galbraith told the newspaper. “This means we will finally begin the flood protection work necessary for development of the Port Lands.”
Last week, a spokesperson for Tory's office confirmed that discussions were ongoing with the provincial and federal governments to obtain funding for the Don River project and that news could be forthcoming in the "near future."
Today’s announcement will take place alongside the south side of Keating Chanel near Cherry Street at 12:30 p.m.
Federal Minister of Infrastructure and Communities Amarjeet Sohi and Ontario Minister of Infrastructure Bob Chiarelli will both be in attendance.
