185 Balliol Street - Potential Property Acquisition for Parkland

The site is approximately 1.08 acres, and is the only opportunity to create a large park in this rapidly growing apartment neighbourhood. Public parks are necessary for complete communities. Council approved the new Parkland Strategy on November 26, 2019. The Parkland Strategy identifies the area as a "Parkland Study and Acquisition Priority Area" as it has low parkland provision and high growth. In July 2018, City Council adopted Official Plan Amendment 405: Midtown in Focus Secondary Plan for the Yonge-Eglinton Area. The Secondary Plan specifically identifies 185 Balliol Street as a proposed public park on Parks and Opens Space Network Plan (Map 21-8). Policy 3.3.5 of OPA 405 states that proposed public parks will be acquired and/or secured by the City over time. It is important that the City of Toronto act quickly to assess the acquisition opportunity. Council has already identified that this is an area of parkland need, and specifically identifies 185 Balliol Street for a proposed park. I am asking that staff to assess the potential acquisition and funding, and report to December 17, 2019 City Council if there is a recommendation to acquire the property for parkland.