It is currently undergoing a transformation from industrial use to mixed-use as part of Waterfront Toronto's plans to create a residential and commercial district urban core near the lake.

This section consists of the 42,000-square-metre (450,000 sq ft) Corus Quay and the George Brown College's Health Sciences Campus.

In December 2009, Waterfront Toronto revealed the first major private sector development for the district, called Parkside.

In February 2020, the Université de l'Ontario français announced plans to open its campus in East Bayfront at 9 Lower Jarvis Street.

The interim terminus at Parliament will feature a loop, but the TTC plans to extend the route into the East Donlands in the future.