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.”
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."
Ian Carlton is a transportation and land use expert specializing in transit-oriented development (TOD). He helps clients - including transit agencies, planning departments, and landowners - optimize real estate development around transit.
Special thanks to Burt Gregory at Mithun for permission to use the Portland Streetcar image above.