The Value of Investing in Canadian Downtowns - International ...

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Public Investments in Downtown Toronto 2000-2010 (Value of Institutional Building Permits Issued 2000-2010) 96
Pattern of Investment Downtown Toronto has seen significant public and quasi public investment in the past decade. These investments have predominantly been in ‘education’ and ‘arts and culture’ and tend to be clustered around existing institutions, the heart of downtown (Yonge- Dundas) and supported by access to the Yonge and University Subway lines. The other key cluster of investment is around Union Station and along the waterfront of Lake Ontario. It is also apparent that the stable neighbourhoods on the east and west side of the core, have undergone minimal change over the past decade. 1. The Heart of the City There is a strong cluster of public and quasi public investments in the heart of downtown. These investments primarily include upgrades to Ryerson University, Ted Rogers School of Management and the proposed Student Learning Centre. Yet, investments have also been made in Nathan Phillips Square (at the front of City Hall). These investments have been dramatically increasing the vibrancy of the core and helped it emerge as a 24/7 place to live, work and play. 2. Downtown University Campuses One interviewee commented: ‘All the universities want to get into the downtown, there is huge demand.’ This trend is strongly reflected in the three nodes of Educational Investments on the Capital Projects Map. As one of the most significant institutional players in the downtown, the University of Toronto has invested around $90 million into their downtown facilities over the past decade. Ryerson University has invested approximately $11 million along Dundas Street, while George Brown College has also made significant investment in its campus and its satellite waterfront campus, to the tune of approximately $14 million. 3. Arts and Entertainment Facilities Downtown Toronto has also benefited from a strong investment in ‘arts and entertainment’ facilities. This investment has been concentrated in the south west quadrant of the downtown in facilities such as the Art Gallery of Ontario, Sony Centre for the Performing Arts, The Rogers Centre, Air Canada Centre and several of the downtown theatres. Significant investment was also made in the Royal Ontario Museum. These investments provide the downtown with state of the art facilities to host all manner of artistic, sporting and cultural events. 4. Enhancing, Redeveloping and Connecting the Waterfront The revitalization of Toronto’s waterfront is the largest urban redevelopment project currently underway in North America, and it is one of the largest waterfront revitalization efforts ever undertaken in the world. 19 Strategic public investments have been made to unlock the development potential of the waterfront area and attract private development. These have included investments in municipal utilities, flood protection, development approvals, master planning, and environmental approvals to spur private investment. Investment has also been made in parks and public spaces including building Canada’s Sugar Beach, Sherbourne Common, the water’s edge promenade and the wave decks. Investments have also been made in the Pan Am Athletes Village at the eastern edge of the downtown core. The map also reflects investment in ‘infrastructure, utilities and transportation’ to support the emerging neighbourhoods along the waterfront and south of the rail line. For example, many of these types of investments are clustered around City Place or the emerging Pan Am Games Athletes’ Village. Investments in ‘Community Facilities and Services’ are also stronger in these new neighbourhoods. 19 Waterfront Toronto. (2012). Waterfront Toronto. Retrieved from: http://www.waterfrontoronto.ca/. Accessed 2012 February 3. 97
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ACKNOWLEDGEMENTS This project would
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CONTENTS ACKNOWLEDGEMENTS .........
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Additionally this project aims to b
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with the selected downtown study ar
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KEY FINDINGS The project team devel
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Downtowns are iconic and powerful s
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Victoria have very sensitive downto
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PROSPERITY Does the downtown have a
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These are very promising signs, yet
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Downtowns are making a major contri
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The densest downtown is Vancouver a
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Downtowns are important places for
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Winnipeg Fredericton Edmonton Halif
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Downtown Toronto and downtown Vanco
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Municipal Investments (mapped inves
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DOWNTOWN CASE STUDIES 32
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Downtown Halifax Timeline 1749 - 20
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VISIBILITY Does the downtown have a
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VISIONARY Does the downtown have st
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LIVEABILITY Is the downtown vibrant
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sites for redevelopment that are cu
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Summary of Municipal Investments Pr
Page 48 and 49: Key Patterns of Investment: 1. Cent
Page 50 and 51: Future Investments The proposed Con
Page 52 and 53: Downtown Fredericton Timeline 1749
Page 54 and 55: VISIBILITY Does the downtown have a
Page 56 and 57: PROSPERITY: Is the downtown’s eco
Page 58 and 59: Municipal Tax Base Since 1995, the
Page 60 and 61: Public Realm Downtown Fredericton h
Page 62 and 63: 60 Municipal Investments in Downtow
Page 64 and 65: 2. Enhancing the waterfront Committ
Page 66 and 67: Downtown Ottawa Timeline 1792 - 201
Page 70 and 71: charges have recently been reinstat
Page 72 and 73: Many of the federally occupied buil
Page 74 and 75: Safety Downtown Ottawa is seen as a
Page 76 and 77: transit service downtown and across
Page 78 and 79: Summary of Public Investments Publi
Page 80 and 81: Key Patterns of Investment: Convent
Page 82 and 83: Downtown Toronto Timeline 1793 - 20
Page 84 and 85: Context Map: Key Assets and Feature
Page 86 and 87: The downtown study area differs sli
Page 88 and 89: http://www.architravel.com/architra
Page 90 and 91: Office Development Downtown Toronto
Page 92 and 93: Municipal Tax Base The downtown mak
Page 94 and 95: Safety Crime indicators for the Cit
Page 96 and 97: STRATEGY Is the City Strategically
Page 100 and 101: 5. Strengthening Communities Invest
Page 102 and 103: Downtown London Timeline 1840 - 201
Page 104 and 105: VISIBILITY Does the Downtown have a
Page 108 and 109: LIVABILITY Is the downtown vibrant,
Page 110 and 111: picnic tables, cafe tables with umb
Page 112 and 113: Summary of Capital Projects: 1998-2
Page 114 and 115: Key Patterns of Investment: The Cit
Page 116 and 117: WINNIPEG Growing in strength and co
Page 118 and 119: Context Map: Key Assets and Feature
Page 120 and 121: VISIONARY Does the downtown have st
Page 124 and 125: LIVABILITY Is the downtown vibrant,
Page 128 and 129: 126 Major Public Investments in Dow
Page 130 and 131: Ship Street, Sky, and The Strand. T
Page 132 and 133: Downtown Saskatoon Timeline 1903 -
Page 136 and 137: Leadership and Collaboration The Ci
Page 138 and 139: Office Development Private office s
Page 140 and 141: LIVEABILITY Is the downtown vibrant
Page 144 and 145: Key Patterns of Investment: 1. Conn
Page 146 and 147: EDMONTON a downtown filled with mom
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Context Map: Key Assets and Feature
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UNITY Does the downtown have strong
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Retail Development It has been obse
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LIVABILITY Is the downtown vibrant,
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STRATEGY Is the City Strategically
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156 Municipal Investments in Downto
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downtown zoning bylaws ensure that
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Downtown Vancouver Timeline 1859 -
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PROSPERITY Is the downtown’s econ
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The downtown also generates a fifth
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Eastside community, which could pot
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uild freeways into downtown Vancouv
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172 Downtown Vancouver Capital Proj
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2. Building complete communities In
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Context Map: Key Assets and Feature
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The City has also taken strong lead
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downtown is striving to offer a uni
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Safety Downtown Victoria has faced
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STRATEGY Is the City Strategically
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Pattern of Investment: Investing in
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QUICK WINS FOR CANADIAN DOWNTOWNS O
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Connecting the Downtown with Natura
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comprehensive planning processes to
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uilding and reconnect it with surro
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198 APPENDICES
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Yet, where the municipality had not
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Data Gaps From the outset of this p
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The foundation of the five principl
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was also collected that examines pr
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APPENDIX 2 - PHOTO CREDITS Front Co
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Context Map The Harbour: http://www
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Toronto 212 Confederation Square: h
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214 Rebuilt Covent Garden Market: h
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Parking lots: The Alberta Legislatu
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Victoria Cover Page Red Second post
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APPENDIX 3 - REFERENCE LIST City of
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City of Edmonton. (2010). Capital C
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City of Vancouver. (2007). Downtown
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Condos Victoria BC. (2011). The Atr
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Harris Consulting (2007). City of V
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The Star Phoenix Website. (2011). S
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