This long-term project will result in real, progressive change in the area, and will act as a gateway to Downtown Ajax, providing a meaningful urban centre for activity and community interaction in the heart of Ajax. The site will feature a prominent civic square, a mix of uses, including high quality residential, commercial and retail space, and public transit, cycling, and pedestrian amenities.
- The Town is expected to net approximately $36.5 million in tax revenue over the next 40 years as a result of the development. From 2013 to 2026, total Ajax property taxes net of CIP incentives are estimated at $9.5 million (20% of the total property taxes payable). From 2026 onward, Ajax property taxes from the site are estimated to be $1.4 million per year.
- In addition to the property taxes, other benefits total $2.3 million worth of park land for Pat Bayly Square as well as public parking spaces, indoor public space and the extension of Kitney Drive.
- The total financial benefit to the Region of Durham over the next 40 years is approximately $135 million. The Region of Durham will receive $17 million in development charges for construction of infrastructure, and approximately $120 million in property taxes.
- The development will create over 200 jobs, approximately 107 spin-off jobs in the Downtown core, and approximately 20 jobs will be generated to service the residential component.
- Total population at build out is estimated at 3,200 persons. It is projected that residents of the development will spend about $71.6 million on goods and services each year in Ajax, totaling $2 billion by 2053.
- Direct and indirect construction-related employment will earn almost $126 million in wages and salaries.
- Estimated cost of construction is $280-$300 million.
- The total Town, Region and Community financial benefit combined is approximately $2.6 billion by 2053.