The ModernTO plan, adopted by Toronto City Council at its October 29, 2019 meeting, is a new approach to city-building that’s designed to modernize the City’s office space, save money, and smartly use its real estate assets. The City currently has more than three million square feet of office space across 55 owned and leased locations, which represents a large, outdated, and inefficient office footprint.
Through ModernTO, the City plans to reduce that portfolio to 15 locations – primarily by ending leases and creating office hubs within key civic buildings including City Hall, Metro Hall and the Civic Centres in Scarborough, North York, and Etobicoke.
This will also unlock eight City-owned properties for city-building purposes, including affordable housing, City services, and other City priorities.
Those sites include the City-owned properties located at:
- 277 Victoria Street
- 33 Queen Street East
- 610 Bay Street
- 931 Yonge Street
- 1900 Yonge Street
- 75 Elizabeth Street
- 95 The Esplanade – Ground Floor
- 18 Dyas Road
The office optimization plan – developed by CreateTO in partnership with the City’s Corporate Real Estate Management (CREM) group – is a five-year, self-funded strategy and the first application of the City-Wide Real Estate Strategy, which is also outlined in the staff report adopted by Council in October 2019.
To view the staff report, click here.