Properties that have been declared surplus by TDSB are subject to compliance with Ontario Regulation 444/98. This regulatory process provides for a 180 day circulation period whereby public agencies can submit to purchase the surplus site at market value. Should the Regulatory process be satisfied without a public agency purchase, the surplus site can then be offered For Sale to the open market. TLC ensures an open and competitive process through the engagement of a real estate broker.
The following are a list of properties currently, at various stages, undergoing the disposition process.
The Bloor-Dufferin Redevelopment site (site severance- approximately 7.3 acres at the corner of Bloor Street and Dufferin Street), including Bloor Collegiate Institute, Alpha II Alternative School and former Kent Senior Public School, was declared surplus by TDSB and referred to the TLC for circulation to prescribed public agencies pursuant to Ontario Reg. 444/98, Disposition of Surplus Real Property.
In November 2015, a Working Group comprised of the City of Toronto, TLC, TDSB and the Province of Ontario had undertook a review of the redevelopment site of 7.3 acres to consider potential public interests including those that would provide opportunities to enhance learning for students and produce benefits for the community at large.
Upon satisfactorily completing the regulatory process, TLC went to the open market through its Listing Broker, CBRE, on August 8, 2016 with a Request For Offers (RFO) and a submission deadline of October 11, 2016.
All inquiries and submissions were directed to the Listing Broker, CBRE. The RFO requested an offer to purchase from a reputable purchaser who will develop the surplus lands through a co-operative approach with the City creating a compatible redevelopment that is reflective of public objectives.
We thank all parties who submitted a proposal for the Bloor Dufferin property and appreciate their time and commitment required for presentation of a proposal.
Upon completion of a comprehensive review and analysis of the submissions by a team that consisted of CBRE, McCarthy Tetrault and the TLC, a tri-party development team was selected as the successful proponent being Capital Developments, Timbercreek Asset Management and Metropia. The Development Team will now actively commence a redevelopment of the 7.3 acre parcel through the City Planning process which will include design for up to a 30,000 square foot hub.
For further information on the Developer and an update on the progress of the site or additional background information, please see the Featured Project section (coming soon)
Additional information on Community Hubs can be viewed in the Community Hub section