Google Sidewalk Labs is approved to build Toronto neighborhood

A conceptual illustration for Sidewalk Labs’ Quayside
neighborhood.
Sidewalk
Toronto

• On Tuesday morning, Waterfront Toronto’s board
  unanimously approved Sidewalk Labs’ plans to develop a 12-acre
  swath of the city into a high-tech neighborhood.
• Sidewalk committed $10 million for planning process,
  and an additional $40 million in investment has now been
  unlocked. The entire development is expected to cost at least
  $1 billion.
• The company has been quiet about the exact plans for
  the neighborhood, but its CEO, Dan
  Doctoroff, has spoken about
  how self-driving cars, embedded sensors that track energy
  usage, machine learning, and high-speed internet could improve
  urban environments.

Sidewalk
Labs 
— the urban innovation arm of
Google parent company Alphabet — just got the green light to
build a high-tech neighborhood on Toronto’s
waterfront. 

On Tuesday morning, the board of Waterfront Toronto
— the organization administering revitalization
projects along the Canadian city’s waterfront — unanimously
approved the company’s plans.

Called
Quayside, the neighborhood’s plan will prioritize
“environmental sustainability, affordability, mobility, and
economic opportunity,” according to Sidewalk Labs. The city of
Toronto and Sidewalk Labs call the larger
project “Sidewalk Toronto.”

Sidewalk has already committed $10 million for planning
process, and an additional $40 million in investment has now been
unlocked with the board’s approval. The entire 12-acre
development is expected to cost at least $1 billion,
however. 

“This agreement … lays out a path towards a transparent,
collaborative partnership with Waterfront Toronto and the people
of Toronto,” Josh Sirefman, Sidewalk Labs’ Head of
Development, told Business Insider in a statement. “We look
forward to working together to develop a groundbreaking plan to
improve the lives of people living in Toronto and cities like it
around the world.” 

An aerial view of the site for Sidewalk Labs’ Quayside
neighborhood.
Sidewalk
Toronto

The company has been quiet about the exact plans for the
neighborhood, but Sidewalk Labs’ CEO, Dan
Doctoroff, has spoken about
how self-driving cars, embedded sensors that track energy usage,
machine learning, and high-speed internet could improve urban
environments.

“We are excited to take this next step with Sidewalk Labs
to set the stage for a transformational project on the waterfront
that addresses many critical urban issues faced by Toronto and
other cities around the world,” Waterfront Toronto tweeted
Tuesday.

Based on these 2017 renderings, it looks like Sidewalk Labs
wants Quayside to be a mixed-use, pedestrian-friendly
neighborhood. The preliminary illustrations include bikeshares,
apartment housing, bus lines, and parks.

Sidewalk
Toronto

The project has been in the works for more than a
year. In March 2017, Sidewalk Labs responded to Toronto’s
request for proposals to redevelop the waterfront parcel. The
planning process kicked off with a community town hall in
November, where residents discussed their thoughts and
concerns about the project.

As Business Insider previously
reported, locals
have expressed worries that Quayside could become a “new
Silicon Valley,” bringing issues like gentrification, higher
housing prices, and income inequality.

The Plan Development Agreement will become public on
Tuesday afternoon after Waterfront Toronto and Sidewalk Labs sign
the deal.