In October 2017, Sidewalk Labs and Waterfront Toronto set out to plan a shared vision for Quayside, a fundamentally more sustainable and affordable community resulting from innovations in technology and urban design. Since the project began, I've met thousands of Torontonians from all over the city, excited by the possibility of making urban life better for everyone.

So it is with great personal sadness and disappointment that I share that Sidewalk Labs will no longer pursue the Quayside project.

For the last two-and-a-half years, we have been passionate about making Quayside happen — indeed, we have invested time, people, and resources in Toronto, including opening a 30-person office on the waterfront. But as unprecedented economic uncertainty has set in around the world and in the Toronto real estate market, it has become too difficult to make the 12-acre project financially viable without sacrificing core parts of the plan we had developed together with Waterfront Toronto to build a truly inclusive, sustainable community. And so, after a great deal of deliberation, we concluded that it no longer made sense to proceed with the Quayside project, and let Waterfront Toronto know yesterday.

While we won't be pursuing this particular project, the current health emergency makes us feel even more strongly about the importance of reimagining cities for the future. I believe that the ideas we have developed over the last two-and-a-half years will represent a meaningful contribution to the work of tackling big urban problems, particularly in the areas of affordability and sustainability. This is a vital societal endeavor, and Sidewalk Labs will continue our work to contribute to it.

On these fronts, we've already started innovative companies addressing urban mobility, next-generation infrastructure, and community-based healthcare, and invested in startups working on everything from robotic furniture to digital electricity. We continue to work internally on factory-made mass timber construction that can improve housing affordability and sustainability, a digital master-planning tool that can improve quality of life outcomes and project economics, and a new approach to all-electric neighborhoods.