Rendering of Toronto Lands Corporation's proposed redevelopment of Kent School at Bloor and Dufferin that will include community/school 'hubs' and residential units.It’s one of Toronto’s most tangled land use headaches.
Critics have called on the board to make better use of its lands, which include large parking lots and sprawling fields serving schools with declining enrolment.
TLC’s strategy calls for pre-planning and rezoning multiple sites, working in tandem with city officials on financing partnerships for new community/school “hubs,” and, crucially, bundling multiple properties into single proposal calls to attract investor interest for multi-unit residential or mixed-use projects. “We may go to the market place looking for a consortium [of developers],” Mr. Sage said, stressing that the approach isn’t meant to generate windfall revenues for the board.
Other TLC ventures, however, will involve private developers, such as a large-scale redevelopment of a cluster of a 10-acre parcel of school board land at Bloor and Dufferin that will include a mixed condo/rental residential project by CD Capital/Metropia.