Sidewalk Labs, the urban innovation arm of Google’s parent company Alphabet, has announced it will no longer be pursuing its Toronto “internet-up “project.
The company, which was working with Waterfront Toronto on the 12-acre project, had faced a number of challenges and controversies in its quest to deliver a blueprint for a city built from the internet up.
Sidewalk Labs chief executive Dan Doctoroff released a statement today confirming the scheme would no longer be going ahead.
He said: “It is with great personal sadness and disappointment that I share that Sidewalk Labs will no longer pursue the Quayside Project.
“For the last two-and-a-half years, we have been passionate about making Quayside happen — indeed, we have invested time, people, and resources in Toronto, including opening a 30-person office on the waterfront.
“But as unprecedented economic uncertainty has set in around the world and in the Toronto real estate market, it has become too difficult to make the 12-acre project financially viable without sacrificing core parts of the plan we had developed together with Waterfront Toronto to build a truly inclusive, sustainable community. And so, after a great deal of deliberation, we concluded that it no longer made sense to proceed with the Quayside project, and let Waterfront Toronto know yesterday.”
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