Toronto’s East Bayfront neighbourhood is about to get a $700-million makeover. Daniels Waterfront will be transforming the former site of Guvernment nightclub into a mix-used community where people can “live, work, learn, play and create.”
Tom Dutton, senior vice-president, The Daniels Corporation, shared his excitement with New Home and Condo Guide, stating that “The coolest feature is the fact that we’re bringing together so many different elements and so many different components and putting them all together in one place… The city is emerging as an art centre in North America and we saw the opportunity for that to be strengthened by doing what we’re doing here. By embedding the arts into our community, we thought it was a great way to not only support the arts but add enormous value to our residential offering that we’re bringing to the market place in the fall.”
Daniels Waterfront – City of the Arts will be developed in two phases. The first phase of development will be the southern part of the property, which will include 28,000-sq.-ft. of commercial offices in two towers as well as a 27,000-sq.-ft. retail space with local and national brand stores, restaurants and coffee shops. Occupants, including the Daniels Corporation headquarters, will start moving in mid 2018.
The Creative Industries Hub will also be built in phase one. Guvernment Nightclub was an iconic entertainment venue in the city of Toronto and was widely known for it’s various events and concerts held throughout the years. Daniels Corporation was keen on maintaining the site’s legacy by creating a 150,000-sq.-ft. space to house leading arts and cultural organizations.
The second phase of development will also include a 240,00-sq.-ft. academic space for George Brown College and OCAD University and 650,000 sq. ft. of residential space containing more than 900 suites in two towers. The 48-storey Lighthouse Tower will be coming to the market fall of 2016.