A Google subsidiary is reportedly close to finalizing a deal with the City of Toronto for a “digital-city project,” according to the Wall Street Journal.
Sidewalk Labs, a company that “imagines, designs, tests, and builds urban innovations to help cities meet their biggest challenges,” wants to develop a 12-acre section of Toronto’s eastern waterfront.
According to the WSJ, Waterfront Toronto — the group tasked with bolstering development along Toronto’s waterfront — is expected to approve the project sometime later this month.
Details of the plan are currently under wraps, but the project is estimated to cost more than $1 billion USD, “based on construction costs of similar projects.”
Sidewalk has been pursuing this development deal since May 2017.
Source: The Wall Street Journal