Toronto’s apartment tower renewal initiative: infusing value into surplus lands for community development
thesisposted on 25.05.2021, 07:14 authored by Frederick Thibeault
Toronto is home to over 1,189 apartment towers built between 1945 and 1984, following LeCorbusier’s “tower in the park” model. Today, many apartment towers communities are fraught with issues that demand immediate and focused attention. Several towers are now approaching 50 years of age, and are beginning to show signs of decay, neglect, and decline, presenting concerns surrounding their physical condition, environmental impacts, and access to essential amenities within close proximity. The former Mayor of Toronto David Miller responded by initiating a study to identify solutions to growing concerns, and financing strategies to achieve it. Notwithstanding these issues, tower neighbourhoods have access to an exorbitant amounts of surplus lands that could accommodate infill activities, and spur investments in these neighbourhoods. The goal of this paper is to assess if surplus lands can be leveraged as the primary funding source to finance the goals and objectives of Toronto’s tower renewal initiative.