02/06/2015 07:31 EST | Updated 04/08/2015 05:59 EDT

New waterfront development to be announced today

A significant announcement about a new private sector waterfront project is expected this morning.

According to a release sent out Thursday, the project will be led by a "pre-eminent" developer and designed by a "leader in progressive workplace architecture."

The announcement is expected at 11:30 a.m. at the Corus Quay building. Mayor John Tory will be joined at the event by federal Finance Minister Joe Oliver, Ontario Economic Development Minister Brad Duguid and Waterfront Toronto CEO John Campbell. 

While the exact details of the project have not been released, the Toronto Sun reported Thursday evening that it will be an "innovation centre that is estimated to create nearly 2,000 jobs."

The announcement comes one day after Tory reiterated his desire for more collaboration between the city and provincial and federal governments at the big city mayors summit.