The jewel of Toronto's development frontier right now is the area stretching between the East Harbour and the Port Lands.

This prime stretch of land — much of it right on the water — is currently the site of numerous major development proposals, but one project just getting started might be the most exciting of them all.

A 12 acre plot around the foot of Parliament Street has been dubbed Quayside. Controlled by Waterfront Toronto, there are big plans to transform what is currently a post-industrial wasteland into the city's most technologically advanced neighbourhood.

Right now, the community is closer to the realm of dreams than it is to reality, but Waterfront Toronto is currently looking for an innovation partner to help them realize the project.

To get an idea of what they're trying to build, consider the objectives that have been outlined. Quayside is meant to be a "globally significant" example of urban sustainability, a complete community with affordable housing and a technology hub, and an architectural destination.

Basically the idea is to raise the bar for waterfront planning at this crucial juncture in the redevelopment of the Port Lands and surrounding area.

It all sounds wonderful. Let's just hope all this ambition comes to fruition.