TORONTO – Regarding Waterfront Toronto’s decision to proceed with formal evaluation of Sidewalk Labs’ development proposals for Quayside, a 12-acre parcel of land on Toronto’s waterfront: “The Statement of Principles reached today by Waterfront Toronto and Sidewalk Labs paves the way for on-going discussions that will bring jobs, innovation, economic development and affordable housing to the City of Toronto and Province of Ontario. Our guiding principles for the development of Toronto’s waterfront continue to be respect for taxpayer dollars, strong oversight and the protection of people’s privacy, and our government believes the Statement of Principles provides a strong platform for the formal evaluation. Waterfront Toronto will now move to begin the formal evaluation of the Master Innovation Development Plan. Our government is pleased that Waterfront Toronto and Sidewalk Labs have resolved the key threshold issues in the best interests of the public, and that the Master Innovation Development Plan will be focused on the 12-acre Quayside parcel. Our government would like to thank the Chair and the Waterfront Toronto Board of Directors along with Sidewalk Labs for the work they have done to achieve this exciting economic milestone. The Province and its other government partners will continue working to ensure the development of Toronto’s waterfront proceeds in a responsible way that maximizes economic development and job creation opportunities.”