Geoff Kettel, co-president of Leaside Residents Association, says that RioCan Inc. will give $19 million to the City as a form of compensation for its large development planned at the southeast corner of Laird Drive and Eglinton Ave. The area has been known as RioCan Leaside Centre and among other businesses contains a Canadian Tire store. The money will be spent to build a daycare centre for the area and other as-yet undecided services to support the increased population in east Leaside caused by the development. The cash is part of an overall settlement resulting from mediation which saw two towers originally planned at 36 and 38 storeys reduced to 34 and 29 storeys. The development will contain increased commercial space and parkland.
