TMU Buys Two Downtown Toronto Sites For Campus Expansion

Toronto Metropolitan University (TMU) has not shied away from expansion plans in recent years. Most recently, the downtown Toronto landmark announced the acquisition of two CreateTO sites, located at 277 Victoria Street and 38 Dundas Street East, calling the move “a strategic opportunity to support campus expansion and revitalization efforts.”

In a media release issued Monday, Mohamed Lachemi, President and Vice-Chancellor for TMU, says that the newly acquired properties will add over 115,000 sq. ft of programmable space to the school. It will be used to accommodate various academic, research, creative, and entrepreneurial initiatives.

READ: Glossy New TMU Facility Design Adds Mass Timber and Green Roofs to Historic Site

“The location will provide another vital connection point between our campus and the city,” says Lachemi. “I’m looking forward to working with our community over the coming months to develop plans for the future of these sites.”

The acquisition has been made possible through the ModernTO plan, which was designed by CreateTO and adopted by Toronto City Council in October 2019. ModernTO was created to reduce the City’s office footprint -- it currently accounts for more than 3 million sq. ft across 55 owned and leased locations -- while freeing up under-utilized properties for city-building opportunities.

Vic Gupta, CEO of CreateTO, confirms that TMU’s acquisition frees up two such City-owned properties. Now under TMU’s purview, the hope is that the sites will go on to not only benefit the university but better benefit the local community.

“The sale will also generate significant revenue to fund city-building benefits, including the delivery of affordable housing, across Toronto,” adds Gupta.

The sale includes a leaseback condition between the City and TMU for a period of two years, effectively extending the City’s oversight of these properties. This condition is in place to allow current occupants -- including Toronto Public Health (TPH), which currently occupies 277 Victoria Street -- to remain on the site until the spring of 2025, giving them the opportunity to properly relocate. In the meantime, TPH offices will be relocated to one of the City’s core civic centre hubs.

Toronto

TMU Acquires Two Downtown Toronto Properties For Campus Expansion

Toronto Metropolitan University (TMU) has announced the acquisition of two CreateTO sites at 277 Victoria Street and 38 Dundas Street East.

Trending

You may also like

As part of a bill introduced today, the Ontario government announced that menstrual products would be required to be provided on the construction sites of 20 or more workers and where construction is anticipated to last at least three months.

Centrally located, thoughtfully designed, and timelessly elegant. 77 Baby Point Crescent has it all — and then some.

The Ontario courts have granted a receivership order over a real estate holding company known as Ajax Meadows, which is linked to a 27-unit townhome development off of Rossland Road.

From in-person employee event days, to children of employees playing Mario Kart, HR software company Humi is resetting the bar for office use in a remote work world.

Thanks to TV shoots, construction, a parade, and the Toronto Marathon, the city will see many road closures this weekend.​

​The foreclosure proceedings were initiated against Marvel Group last year and the property was recently listed for sale by CBRE.

There could be another new addition to Toronto’s perpetually evolving Parkdale neighbourhood.

Buyers have no shortage of options in Toronto’s real estate market this spring. According to the latest figures from TRREB, April showers brought a slump in home sales compared to April 2023, but a significant surge in new listings.

​An urban community will take shape in the coming decades at the Downsview Airport Lands and, in the meantime, Northcrest Developments is calling on artists to help bring the site to life through cultural events and installations come 2025 – including 600 metres of tarmac.

Oxford Properties listed the two downtown Vancouver office buildings at 401 West Georgia and 402 Dunsmuir for sale last June.

The amount of sales recorded in April in the Fraser Valley was the third-lowest April total of the past 10 years, says the FVREB.

According to data from Colliers and Altus Group, there have been just 20 transactions as of the first quarter of 2024, putting annualized sales in the territory of 2009.

If you were born in the 1990s and own real estate, there’s a good chance you’ve had a little help from your parents.

Active listings in the Greater Vancouver region surpassed 12,000 in April, a number not seem since the pandemic summer of 2020.

Since March 2018, when the city began using a lottery system for new affordable housing, it has overseen 18 lotteries, for a total of 858 affordable units. But the current system isn't working for everybody.

2024 © STOREYS Publishing Inc. | All Rights Reserved

Thanks to TV shoots, construction, a parade, and the Toronto Marathon, the city will see many road closures this weekend.

The foreclosure proceedings were initiated against Marvel Group last year and the property was recently listed for sale by CBRE.

An urban community will take shape in the coming decades at the Downsview Airport Lands and, in the meantime, Northcrest Developments is calling on artists to help bring the site to life through cultural events and installations come 2025 – including 600 metres of tarmac.