Job Creation
The Province of Ontario's investment in the project is attracting investors, creating business opportunities for local companies and providing a boost to the local and regional economies by creating and sustaining approximately 5,200 jobs. EllisDon Ledcor PAAV Inc. estimates at the peak of construction approximately 700 people will be working on the site.
The project, one of the most significant developments in Toronto, is accelerating the pace of development in the West Don Lands and has attracted investment from Dundee Kilmer Development Limited (Dundee Kilmer), George Brown College and the YMCA, all of which will be contributing toward the development of a mixed-use community.
Dundee Kilmer has committed to completing the project in time for the Toronto 2015 Pan/Parapan American Games.
To ensure the project is on time and on budget, its construction partner, EllisDon Ledcor PAAV Inc., will create employment opportunities for trades such as carpenters, concrete finishers, crane operators, welders, electricians, stone masons and bricklayers. The purchase of supplies and materials will also create economic spin-offs that will benefit the entire region.
These projects are already contributing to the Greater Toronto Area's economy and creating and sustaining jobs in the region, with construction crews laying sanitary and storm utility lines and building roads to prepare the West Don Lands for residential and commercial uses.
Economic Returns
Development of the West Don Lands will dramatically improve area property value. At full build out, the increased and incremental property tax assessment value is estimated at $3.7 billion and the annual property taxes for the West Don Lands are estimated to be $30 million.