The Metrolinx GO station under construction adjacent to Woodbine Racetrack is the driving force behind an ambitious plan to build the largest development in the Greater Toronto Area — a mixed-use community of tens of thousands of residents on 684 acres anchored by the racetrack complex.
“It is really going to be a crown jewel in the history of Toronto and its development,” says Chris Caverson, executive vice-president of development, Woodbine Entertainment (WE).
WE, which operates like a not-for-profit corporation, is contributing $170 million to the completion of the Metrolinx station expected to open its doors in five years.
The new community will be “a city within the city” with a balance of homes, office and associated services that could take up to 25 years to complete.
The GO station will be strategically linked to the UP Express from downtown Toronto to Pearson International Airport and possibly by an extension of the Finch LRT from Humber Polytechnic to the new station.
WE will develop and retain ownership of the land, but it will form joint ventures to generate ongoing revenue that will help support horse racing at its facilities.
Caverson, who was raised in Etobicoke and has driven by the property many times over the decades, says one of WE’s goals is to see a number of projects rise in time with the GO station’s completion.
How that unfolds will depend on market conditions.
“It is not a great time to be building from a new home perspective. A lot of companies have pivoted to rental. That really fits within the model of what we’re looking to achieve, which is to maintain ownership of as much of the lands as we can.”
Caverson says the next two or so years “are going to be very telling” on how the development plays out, including how many residential units might be constructed in time with the GO station’s opening.
WE’s priority is the development of four identified “character areas” surrounding the new station and the racetrack/casino.
The individual properties include 185- and 70-acre mixed-use parcels, and a 70-acre “employment” plot that could be an innovation hub supporting Canadian businesses. The fourth area is 10 acres with an unidentified use to date, he says.
“We want to establish a theme to our overall development and that is walkability, inclusion…a vibrant place for people to be.”
The developer will have to go through an extensive planning and approvals regime before beginning any projects.
“There is a lot of work…and we’re going to move as fast as the approvals process lets us move,” says Caverson, adding the development has garnered “a lot of buy-in” from key stakeholders such as the City of Toronto.
Woodbine Racetrack’s infrastructure will also be on tap for change, including updating, replacing and relocating dormitories for backstretch workers who maintain the 1,700 stabled horses.
Caverson says full buildout of the 684 acres is expected to create upward of 43,000 construction jobs over the 25-year span.
The new station is on the Kitchener GO Line and is expected to serve about 7,000 riders a day by 2041. The project falls under the province’s $13 billion GO Expansion program.
