TORONTO (Reuters) – Alphabet’s (GOOGL.O) Sidewalk Labs has pulled the plug on its Toronto “smart city” project, citing its financial viability and “unprecedented economic uncertainty” in a setback for the city’s long-planned waterfront revitalization.
A man passes the offices of the proposed site of Alphabet’s Sidewalk Labs “smart city”, after the company announced it has pulled out of its project due to economic uncertainty in Toronto, Ontario, Canada May 7, 2020. REUTERS/Chris Helgren
Sidewalk Labs had developed a proposal for a futuristic, data-driven city development along Toronto’s downtown lakeshore. It was working with a government-mandated agency, Waterfront Toronto, that planned to vote on whether to approve the final proposal in June.
The project had long faced opposition over issues including data privacy concerns. Alphabet is the parent company of Google.
“As unprecedented economic uncertainty has set in around the world and in the Toronto real estate…
Source Reuters Tech News
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