If you stand at the corner of Bathurst and Front Street you can still see the old development proposal sign for a mixed-use development that never came to be. And if Councillor Mike Layton’s proposal is approved—and we at Park People think it should—this currently vacant, somewhat triangular 2.3 acre piece of city-owned land will actually become a new park instead.
A staff report going to City Council next week seeks approval to re-designate the land to Open Space, preserving its future as a park. This would remove the ability of the land to be developed into residential or commercial. Before the site became a park, an existing agreement will see a temporary open-air shipping container market set up on the site for two to three years.
The site has a somewhat complex history. It was originally supposed to be part of the Front Street extension, but when that plan was abandoned in 2008 it was declared surplus by the City. In 2011, Council voted to move the property to Build Toronto, which is the development arm of the City that seeks to create value through real estate development.
A year later Build proposed a mixed-use development with three towers on a podium and a small park—the development sign that is there today—which was not supported by City Planning for a number of reasons. Build has said that because of the environmental remediation required, a development that conforms with the planning policies for the site is not financially feasible. City staff note that this same issue makes other mixed-use developments on the site challenging.
And so: a park.
This site is located within the extremely high-growth South Niagara neighbourhood—which is underserved by parkland. In fact, if you stand there today you can watch a new development going up right across the street. The park would also plug into the existing and future public space network in the area, connecting with the extension of the West Toronto Railpath and acting as a green link into the future Rail Deck Park, which would be to the immediate southeast. Its street frontage on Bathurst makes it a highly visible public space and the rail corridor along its southern edge means the park will have a unique view of the Fort York neighbourhood.
While the site is contaminated, as it’s a former location of a lead smelter, cleaning it up (which is estimated to cost at least $4 million) is still much cheaper than purchasing an equivalent-sized piece of land in the area—if you could even find a 2-acre site. Land prices in downtown can range from $30 to $60 million an acre, meaning a 2-acre park could cost as much as $120 million—and that’s just to buy the land, never mind actually design and build the park.
In this super-charged real estate market, it doesn’t just make sense, but becomes a necessity to seize opportunities like already City-owned land to create new public space. It is financially prudent.
For these reasons, we support the staff recommendation and Mike Layton’s proposal to create a new park in this area from this piece of city-owned land. If you do too, please make sure to let your local councillor and the mayor know before April 26.