These future revenues, based on the anticipated increase in land value once homes and offices are built on the derelict Port Lands, are estimated to be $6 billion over the next 30 years. Even a small portion of this could amount to a large, recurring revenue stream diverted from the city into private hands.
The California-based tech giant envisions redevelopment on 350 acres in the Port Lands area — an area almost 30 times larger than Quayside — by financing underground infrastructure and a light rail line. The slides also indicate Google’s Canadian headquarters will be built on Villiers Island.
It’s not the large map of the entire waterfront, only the port lands, but it’s getting bigger…