Private developer building new bus terminal for Toronto's Metrolinx

There is some good coverage of the recent deal inked in Toronto for a private developer to replace the main downtown bus terminal as part of their new development.

“When we looked around for the available [bus terminal] sites at that time, in about 2008-2009, there really was only one undeveloped site left that was in close proximity to Union Station and the Gardiner [Expressway] and Lakeshore Boulevard – 45 Bay was that site,” says Metrolinx president and CEO Bruce McCuaig. “And it was owned by Ivanhoé Cambridge.”

That means the blockbuster deal that was announced in September for the $2-billion project that includes the bus terminal and two office towers was first kindled more than five years ago, when Metrolinx knew it wanted to be on that site.

 - Tara Perkins, The Globe and Mail

The transit agency's press release includes the following gem:

"At Ivanhoé Cambridge, we believe it is important for the private sector to create public benefit in the communities in which we operate and invest and this project achieves that goal. Our project will also include a new, larger modern GO bus terminal located at the base of 45 Bay that will provide easy accessibility to Union Station, the financial district, the waterfront and the PATH," said Paul Gleeson, Executive Vice President Global Development Ivanhoé Cambridge. "By creating more opportunity for commuters, residents and tourists to get around, whether it is on the GO, through the PATH, or on the newly created green space, we are creating an integrated, forward-thinking sustainable development that will make a significant contribution to the evolution of our downtown and help it achieve its full potential."