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Toronto City Council · 2021-05-05 · 2021.MM32.5

The filed record

Call to Publicly Release the Signed 350 page 200-year Lease Agreement Between the City of Toronto and Oxford Properties, for the Redevelopment of the Canada Square Lands at 2200 Yonge Street - by Councillor Mike Colle, seconded by Councillor Jaye Robinson

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The decision

2021-05-05 · Toronto City Council · adopted

As filed

City Council on May 5 and 6, 2021, adopted the following: 1. City Council request the City Manager, in consultation with the appropriate City Officials, to make the signed agreement with Oxford Properties regarding the Canada Square lands, located at 2200 Yonge Street, and all related documents available to the public immediately, to support a full and transparent process of disclosure of the future development of this vital public asset, and City Council refer the development application at this site to the Planning and Housing Committee for review.

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May 18, 2021: The Executive Director, Corporate Real Estate Management has provided the following documents for public release. They can be accessed under Background Information (City Council): 1. Canada Square Consolidated Ground Lease Summary 2. Consolidated Amended and Restated Lease 3. Commencement Agreement 4. Toronto Transit Commission Development Lands Lease

The vote

Adopt Item · Carried, 13-11

For (13)Ana Bailão, Anthony Perruzza, Brad Bradford, Cynthia Lai, Denzil Minnan-Wong, James Pasternak, Jaye Robinson, Jennifer McKelvie, Kristyn Wong-Tam, Mike Colle, Nick Mantas, Shelley Carroll, Stephen Holyday
Against (11)Frances Nunziata, Gary Crawford, Gord Perks, Joe Cressy, John Filion, John Tory, Josh Matlow, Michael Ford, Michael Thompson, Mike Layton, Paul Ainslie
Absent (2)Mark Grimes, Paula Fletcher
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On the agenda

As the city filed it

The future development of the City of Toronto's Canada Square lands is subject to a 350 page agreement which was signed between the developer, Oxford Properties, and the City of Toronto in 2018. In view of the critical importance of this publicly owned land to the future of one of Toronto's major crossroads, Yonge and Eglinton, and its impacts on not only the three Wards it abuts (Wards 8, 12, and 15) but also a major

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transit hub as the Yonge Subway Line and future Eglinton Crosstown LRT Project intersect here, it is in the public interest that this confidential agreement, which has not been made public since 2018, be made available due to the new development application submitted for the lands consisting of: - 5 Residential Towers - Tower 1 at 60 storeys (204.2 metres); - Floors 1-27 Office Space; - Floors 28-60 Residential; - Tower 2 at 70 storeys (231.7 metres); - Tower 3 at 60 storeys (204.2 metres); - Tower 4 at 55 storeys (184.3 metres); and - Tower 5 at 45 storeys (154.3 metres) Totaling 2,701 Residential Units. Using the City's "Growing Up Guidelines" where 25 percent of all units in residential mid-rise and high-rise must be "larger units," one could assume: - 675 Units would be dedicated to 2 - 3 Bedrooms; - At a conservative estimation, an additional 5,500+ residents could be added within the entire development; and - According to the Midtown in Focus Study, about 20,000 people already lived in the "Yonge-Eglinton Centre" or 34 percent of the 61,000 people in all of Midtown in 2017. City Council passed a resolution in support of the nine Residents' Associations in the area requesting that development be delayed until there is a comprehensive regional review of this development. Without full disclosure of the agreement between the City of Toronto, the Toronto Transit Commission, and the development partner, Oxford Properties, it will not be possible for the local Residents' Associations and the public at large to make fully-informed planning and development decisions on the future of these critical lands. It is essential that this agreement be made available to the public immediately to ensure that the City can engage in full and transparent community consultation. Given the significant impacts this proposal will have on Wards 8, 12, and 15, and the further strain it will have on the existing infrastructure in the area including: recreational facilities, open space, parks, housing, servicing, transit, and congestion, this document should be made public immediately. Further, the development application submitted for this site should be referred to the Planning and Housing Committee for its review.

Staff recommended

Councillor Mike Colle, seconded by Councillor Jaye Robinson, recommends that: 1. City Council request the City Manager, in consultation with the appropriate City Officials, to make the signed agreement with Oxford Properties regarding the Canada Square lands, located at 2200 Yonge Street, and all related documents available to the public immediately, to support a full and transparent process of disclosure of the future

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development of this vital public asset, and City Council refer the development application at this site to the Planning and Housing Committee for review.

    On the record

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