Those wanting to make a quick buck on land that would be used for the 2008 Olympics, if Toronto wins the bid, will have to wait.
Toronto city council voted unanimously to impose a one-year development freeze on the city’s port lands to allow time to finalize plans for a massive overhaul of the waterfront.
Under the “interim control bylaw” no building can go up in areas off Cherry St. where Olympic facilities would go if Toronto wins the 2008 Summer Games.
Toronto city councillor Jack Layton said “every promoter and investor looking to make a buck from the interest in the Olympics would have been all over that land”.
And Toronto Mayor Mel Lastman urged city council to “tie up the land”.
