- City-Building
CreateTO, together with its City partners, has taken a large step in moving the ModernTO program forward with the finalized sale of the City-owned properties at 277 Victoria St. and 38 Dundas St. E. to Toronto Metropolitan University (TMU).
Funds from the sale of the sites located near Yonge-Dundas Square will be directed to support city-building priorities like new affordable housing, while also benefiting TMU’s long-term growth plans.
ModernTO is reducing the City’s office footprint from 55 to 15 locations 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, among other initiatives.
This will also unlock eight high-value City-owned properties for repurposing or redevelopment, allowing the City to generate dollars that can be directed to city-building priorities like affordable housing.
Read the news release here.