Build Toronto, the City of Toronto’s newly formed arms-length real estate development corporation, is pleased to announce the listing of its first property – 154 Front Street East. The sale of this site is part of the Build Toronto’s mandate “to bring growth, value and results” to the City’s billion dollar real estate holdings, improving and rejuvenating neighborhood infrastructure, and delivering real financial returns.
The 154 Front Street location is a 0.7963 acre (34,687 square foot) site in the original 10 blocks of the Old Town of York, close to the St. Lawrence Market area, the Distillery District, and Corktown. The property will be marketed by N. Barry Lyons Consultants inviting partnerships with developers, brokers, and investors to build out the property. A comprehensive and dedicated website, www.154frontstreeteast.com, provides all relevant property descriptions, detailed studies, legal documentation and submission requirements.
The site is currently leased for Greyhound’s Bus Parcel Express Depot but has been recently determined as residual to the needs of the City and is therefore available for purchase. The property is considered Regeneration in the City’s Official Plan and zoned for Reinvestment Area. With a current portfolio of 31 properties representing hundreds of millions of dollars in potential market value, Build Toronto will engage corporate Canada and international investors to realize the value of one of Canada’s largest real estate portfolios, while providing a sustainable revenue stream to the City, creating thousands of jobs and regenerating neighbourhoods.