On Oct. 19, Google's parent company Alphabet announced it will heavily invest in Toronto as part of a partnership with the Waterfront Toronto initiative. Alphabet's Sidewalk Labs arm will funnel U.S.$50 million into the city's waterfront area to build a new headquarters for Google's Canadian arm.
The project will provide new office, residential and commercial properties, too. These spaces will cover 3.3 million square feet. Writing for the Globe and Mail, Sidewalk Labs CEO Daniel Doctoroff and Alphabet Creative Chairman Eric Schmidt said the project seeks to infuse the benefits of a digital world into urban planning. They said Toronto was the perfect location because of the city's diversity.
In total, the site will cover 12 acres on Toronto's southeastern waterfront. In addition to the space giving residents a Google-powered lifestyle, it will help maintain Canadian culture while bringing jobs to the neighborhood. Even Prime Minister Justin Trudeau is excited for the employment possibilities.
"This project offers unprecedented opportunities for Canadian innovators and will create thousands of good, middle class jobs," Trudeau said, according to the announcement.
Waterfront Toronto believes the project will build on the city's current success in its tech sector. Once development begins, the first step will be to move Google's headquarters.