Oxford Properties and One Eleven are redeveloping Front Street and transforming it into a downtown innovation cluster. They are hoping that this development called Union Park will turn Toronto into a centre for technological development. The existing five-storey building will eventually house high-growth startups and development labs for large companies.
The new facilities will accommodate up to 50 companies, typically with employees of up to 40, and with a stay of between 18 to 24 months. It is believed that these clusters allow participants to share resources, attract out-of-town investors and attract talent – all of which are a tremendous advantage to the typical startup.
Will Toronto be the next San Francisco?
Read the article at: https://www.theglobeandmail.com/report-on-business/small-business/oxford-properties-and-startup-incubator-team-up-to-create-a-new-toronto-innovation-district/article34614568/
