By Ainsley Smith and Jordan Biordi
Waterfront Toronto and Menkes Developments Ltd. (Menkes) announced its plans for a new 350,000-square foot Waterfront Innovation Centre on Friday.
It is expected to provide an estimated 2,000 new jobs and attract cutting-edge businesses to the city.
The building, which is completely funded by the private sector, will be located on city-owned land in the East Bayfront precinct of the waterfront, next to Sugar Beach.
John Campbell, Waterfront Toronto President and CEO, said one unique feature would be Internet connection speeds that are exponentially faster than the North American average.
The announcement comes one day after Tory reiterated his desire for more collaboration between the city, provincial and federal governments at the big city mayors summit.