I was walking back to the office along Queens Quay on my way home from some appointments earlier today and I peered across the street to see the rapid development of a sales centre for the brand new controversial project: Pier27.

I'm pretty upset at the city for allowing Pier27 (www.pier27.ca) to go up at the foot of Yonge on the south side of Queens Quay.  So much for revitalizing the waterfront and all the talk about how building residential on the south side of QQ is a no-no.  That area has the potential to be so much more as a public area... I mean it's the water's edge at the end of the longest street in the world! 

Corrupt I tell you... I'm sure it's going to be gorgeous (and DAMN EXPENSIVE), but that's not the point.  All this unregulated urban sprawl is exactly why we're no "Vancouver" and never will be! We dont' have a first class waterfront, so we'll never be able to get the $1,000 + / sqft prices that other major cities get for their waterfront properties.

Mind you, if the building sells for record high prices per sqft, it will surely help the values of surrounding buildings (which I have a vested interest in), but uggg... I'm still very disappointed because the land could be used for so much more.   We'll see what happens...

Click Here to read more about the project in the Toronto Star from Toronto's Urban Affairs Columnist, Christopher Hume