From port facility to condos
1911: Toronto Harbour Commission set up under federal charter to manage Port of Toronto. Main asset is 809 hectares of land and water lots that city turned over to the commission to manage.
1960s: THC builds port facilities, including Marine Terminal 27 at the foot of Yonge St., to handle anticipated boom in shipping. By 1986, the site is declared surplus.
Summer 1986: To clear debt, Harbour Commission sells 3.6-hectare site south of Queens Quay and east of Yonge – MT27 – to Avro Group, headed by developer Phil Roth, for what city council calls a "bargain basement" $24.6 million.
October 1986: THC agrees to reopen negotiations with Avro in hopes of getting more money for the land.
November 1986: Council asks federal government to block the sale, saying the price is too low. Land sale eventually completed.
March 1987: Proposal to transform warehouse on MT27 into weekend antique market.
April 1987: As a result of the controversial land deal, council decides THC chair Fred Eisen, lawyer Andy Paton and Alderman Tom Clifford will not be reappointed.
April 1987: MT27 touted as site for new Metro Hall.
1988: Location considered a front-runner for proposed $230 million ballet-opera house. Most of the land remains in Avro Group ownership, with a small portion owned by Torstar Corp. Roth offers to donate some of the site for the arts complex, in return for increased density on the remainder, where he plans to build two office towers.
Late '80s to early 1990s: City places holding bylaw on waterfront lands during Olympic bid, freezes development.
1996: Avro gets land rezoned for residential use, allowing about 1,400 condos.
2002: OMB permits 2,000 residential units at MT27 but restricts height to 14 storeys.
2005: Toronto Waterfront Revitalization Corp. attempts to buy the land but doesn't have enough money.
2005: TWRC pays Torstar $12.5 million for a half hectare just east of Captain John's restaurant (now a parking lot).
May 12, 2007: Current developers Cityzen and Fernbrook Homes unveil plans for a complex of five buildings with 1,500 to 2,000 units. Marketing to begin early this summer with construction of first phaseto be completed over next 2 1/2 years. A 25-metre waterfront promenade proposed.
July 4, 2007: Cityzen and Fernbrook to go before Toronto's committee of adjustment for site plan approval.
Compiled by Leslie Ferenc