It’s been a long time coming, but it seems we can go ahead and make the statement with incontrovertible authority: Toronto is finally in the running to earn the moniker of “world-class city.” Doubtful? Consider the following:

> In a city in which the annual budget is somewhere north of $9 billion, new mayor Rob Ford, elected on the ringing slogan “Stop the Gravy Train,” has put his money where his mouth is. Ford led the fight to cancel catered sandwiches for city councillors on the many evenings they work through the dinner hour to stay on top of their agenda. Savings? A handsome $48,000 — and a powerful stroke toward stopping gravy trains of all kinds.

> Tim Hudak, the formerly invisible leader of the provincial Progressive Conservative Opposition, has shot to prominence with a surefire winner in the policy department. Ontarians now can look forward to sucking back “buck-a-beer” suds in a kingdom run by Hudak. Total savings? About $1.95 for that Ontario institution, the two-four. A sophisticated gesture, to say the least, and bound to help many Torontonians forget that the provincial deficit is now more than $18 billion after two years of a brutal recession, with the epicentre of unemployment in and around Toronto.

> According to some long overdue research, it’s now clear why the Toronto Maple Leafs can’t seem to catch a break when it comes to winning the Stanley Cup — the wives of the world’s top hockey players can’t stand January in Canada’s world-class city. Unfortunately, no one is yet sure why the weather in Boston, Buffalo and Chicago, which is often as bad as — or worse than — Toronto’s, isn’t keeping wives away from those cities. A committee will probably be struck shortly to come up with a world-class solution — free blanket coats from The Bay?

All is not lost. World-renowned British architect Will Alsop has designed a striking new subway stop for one of Toronto’s more barren corners, and all being well, the deal is done and can’t be touched by a mayor who believes that funds for legacy projects that marry function and form — also known as “culture” — are frills. Hopefully, more buildings designed to enhance public spaces, as well as to deliver much needed services, will escape Ford’s short-sighted approach to city-building.

On the money side, the China Investment Corp., a US$300 billion sovereign wealth fund, recently opened its first office outside China in Toronto. The high profile choice is a much needed boost for Toronto’s listing reputation as the global headquarters for natural resource financing.

The cranes are also back in Toronto’s residential condominium market, with sales at historical highs, in both volume and prices. Driving much of the activity are buyers from around the world, including Asia, the Middle East, Ireland and France.

Some on the global stage seem to know that Toronto could indeed be world-class. Often, though, it seems as though the residents don’t share that view. IE