Harbourfront.

Harbourfront was a Crown corporation created in 1972, to ensure that 247 acres of waterfront land in Toronto would remain a greenspace "in perpetuity." Harbourfront Centre now encompasses 10 acres,
The federal government spent millions of dollars cleaning up an industrial wasteland.
House of Commons Debates  Ottawa  May 23, 1991.

John V. Nunziata - Liberal.
Mr. Nunziata:
     "The Conservative member opposite says there is nothing wrong with the federal government selling public land in order to benefit the rich and wealthy. There are a lot of poor and not so poor people in metropolitan Toronto who cannot escape to Roscoe Lake on the hot summer weekends in order to boat at their cottage. A lot of residents of metropolitan Toronto have the waterfront as their recreation during the summer months."
     "This government is proposing to sell that very valuable asset. Why? Not to reduce the deficit. We know that the government has gone to extremes in order to reduce the deficit, but it says it wants to sell part of the land in order to create a trust fund so that Harbourfront can be financed in perpetuity."
     "In other words, sell public parkland to developers. Let them make hundreds of millions of dollars building luxury condominiums or luxury hotels on the waterfront. The revenue from the sale of this land will go into a little trust fund and the interest will be used to carry on these very useful activities."
     "It is penny wise and pound foolish for the government to be selling assets in order to create trust funds in order to carry on certain activities. Then why does it not sell the House of Commons? Why does it not sell the lawn in front of the Peace Tower to private interests."
     "Future generations, our children and grandchildren, will look back on the decisions of this particular Conservative government...

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