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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read DASH diet best overall in new rankings 4:35pm EDT Gaddafi vows to fight on as NATO jets pound Tripoli | 3:13pm EDT US STOCKS-Wall St set to rebound, downtrend seen intact 8:53am EDT GM CEO warns on playing games with national debt 3:55pm EDT China official says U.S. could pursue weak dollar policy 7:37am EDT Discussed 86 150 economists back U.S. Republicans in debt fight 68 ”The world is getting warmer”: Romney 67 Moody’s sounds alarm over U.S. debt limit and deficits Watched Pakistan Taliban: New life from bin Laden's death Mon, Jun 6 2011 Apple's Jobs unveils iCloud Mon, Jun 6 2011 Bodypainters apply their skill Mon, Jul 19 2010 Toronto waterfront set for "ultra-broadband" Tweet Share this Email Print Analysis & Opinion Superstar economics: It’s all showbiz now Tech envy: It’s a jungle out there Related Topics Technology » Lightning strikes the CN Tower during a thunderstorm in Toronto May 29, 2011. Credit: Reuters/Mark Blinch By Alastair Sharp TORONTO | Tue Jun 7, 2011 4:57pm EDT TORONTO (Reuters) - One of Toronto's newest neighborhoods will start life with some of the fastest Internet connections in the world as developers tempt bandwidth-hungry residents and business into the one-time industrial wasteland. Modeled on similar undertakings in Seoul, Tokyo, Stockholm, London and Paris, the new area on the shores of Lake Ontario will offer Internet connections that are 500 times faster than a typical North American household link, meaning it will take seconds to download or edit a movie. "If we want to remain a leading global city, investments ... in ultra-broadband are required as part of the city's infrastructure foundation just like other central infrastructure such as electricity and water," said Evan Kelly, a partner in PricewaterhouseCoopers. PwC gave Toronto a middle-of-the-pack ranking on technological readiness in a recent survey of 26 world cities, but ranked it second overall behind New York City. Developers say the new Internet connections will offer speeds of up to 10 gigabits a second for businesses or 100 megabits for residential use, a crucial draw for the residential and commercial space planned for the mostly disused industrial land to the east of downtown Toronto. "Having this sort of capacity available to residents will allow for a whole new world of applications we haven't even conceived of yet," said Dan Armstrong, chief executive of Beanfield Metroconnect, the telecommunications company that won the Internet tender. The revitalization of the Toronto waterfront is expected to cost C$35 billion ($36 billion) in mostly private funds over 25 years. Each home and business in the 2,000 acre zone will be hooked up to a C$30 million fiber optic network that is guaranteed to be one of the seven best in the world for ten years after the last building is finished, Beanfield says. The first tenant was media company Corus Entertainment, which moved its headquarters to the lakefront last year. "We believe that knowledge and creative industries, like digital media and entertainment companies like Corus Entertainment, will also choose to locate in our waterfront communities because of the unparalleled quality of this information and communications technology," said John Campbell, who leads the Waterfront Toronto revitalization project. ($1=$0.98 Canadian) (Editing by Janet Guttsman) Technology Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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