Alphabet subsidiary Sidewalk Labs will no longer pursue its dream of a smart neighborhood in Toronto.

In a Medium blog post, CEO Daniel Doctoroff said “unprecedented economic uncertainty” meant it was “too difficult” to achieve its dreams for Quayside, a proposed redevelopment on the city’s waterfront. If the company pushed forward with its vision — which was yet to receive sign-off from the Canadian government — “core parts of the plan” would need to be sacrificed, he said. “And so, after a great deal of deliberation, we concluded that it no longer made sense to proceed with the Quayside project,” Doctoroff added.

Sidewalk Toronto Press Release | Following yesterday’s announcement of a tentative deal with Waterfront Toronto - Last June, we submitted our proposal for Toronto’s eastern waterfront to Waterfront Toronto. The 1,524-page document reflected 18 months of work and feedback from tens of thousands of Torontonians and hundreds of public officials. 

The proposal represents our best thinking to date on the path to creating the most innovative place in the world, right here in Toronto. Our proposal was bold, but it was also a draft— subject to additional public consultations, further refinement, and government approvals.