The Gardiner is actually city-owned. Much land is freed up when the Gardiner and its concomitant ramps are removed. As for the wider plots of land between about Parliament and the DVP, the city already has plans for developing this land, quite advanced plans in its plans for the Port Lands. The biggest problem for the Port Lands is that they will essentially be an island, cut off from the rest of the city by the Gardiner. There are some interesting ideas to enhance the north-south connection with a reconfigured Cherry St. and connections to the Distillery and Canary Districts. Yes, the disconnection to the lake is also maintained with the rail corridor, but we seem to be finding creative ways of decking over the corridor. The new rail deck plans do this, and work beautifully west of Blue Jay Way, where the corridor drops below grade.
People can say what they want about cost, feasibility, etc., but the reality is, as long as you have major transportation infrastructure cutting off the waterfront from the rest of the city, whether an open air rail corridor or an elevated expressway, you're selling the city short on what it could be. I really think the final move for Toronto from being a successful rust belt city to something special is to reconnect the city to the waterfront. Whether that's burying or simply removing the Gardiner is up for debate. The hybrid is an expensive, better version of what we already have, but it's still more of the same essential disconnect. I've thought and said a lot on these topics, shown routes on maps, defended positions against people who think I'm interested in building highways through the core, etc. I realize people are trying to make the best of a bad situation with the Under Gardiner, etc., but I believe we can do better...Unless people really want to take up this cause and have real discussions about it, I've nothing more to say on this. (Don't celebrate too much...Lol)