In 2005, there was a glimmer of hope for the corner Albion Rd. and Highway 27 when a massive project, Woodbine Live, was announced. But as discussion waned, hope dwindled as well.
Now the wheels are now back in motion with construction slated to begin this Fall!
The development will include:
a 450-room hotel, a 5,000-seat live performance venue, a big-box retail centre, a movie theatre, smaller upscale shops and bars and restaurants. The Star
In addition, there will be an employment centre set up to give north Etobicoke residents first crack at the 3,000 new jobs resulting from the development.
Rexdale has disproportionately high unemployment, which this new complex should help. But there are also fears that hopes are too high. The Queen’s Plate should bring extra stimulus to Rexdale, but year after year it amounts to a procession of expensive cars going in and out without spending much money in the area.
But at least the development is moving forward and 30% of the jobs have been promised to Rexdale residents (in exchange, of course, for $120 million worth of property tax breaks over 20 years). Construction is slated to begin in the fall for the first phase.