The project aims to convert a disused heritage building on Toronto’s waterfront into a multiuse community cultural arts and conference centre.

Legislative Affairs Minister Paul Calandra said last year that the project will cost at least $1 billion.

The second of a six-phase project to rehabilitate the downtown roadway starts on March 25. It sees work start on the road between Dufferin Street and Strachan Avenue.

Half of the 181 funded projects failed to include a fleshed-out strategy to assess results, leaving their impact unclear, according to the report. A handful had no strategy.

Non-residential investment rose for the third consecutive month, however, and reached a record high of $6.1 billion.