505 University Avenue - Proposed Designation By-law Under Part IV, Section 29 of the Ontario Heritage Act - Consideration of Objection

Originally intended to be constructed to a height of 20-storeys, the building was erected in two phases, with the first 13 storeys completed in 1958 and the uppermost 7 storeys added in 1966. Commissioned by Shell Oil, the building served as the global firm's Canadian headquarters from 1958 to 1983. City Council has until June 9, 2024, 90 days from the date of the end of the objection period, or 120 days from the issuance of the Notice of Intention to Designate, to make a decision on this objection as per the timeline under the Ontario Heritage Act. Staff have reviewed the objections raised by the owner and are of the opinion that despite these objections, the property meets Ontario Regulation 9/06, the criteria prescribed for municipal designation under Part IV, Section 29 of the Ontario Heritage Act, under 6 of 9 possible criteria for its design/physical, historical/associative, and contextual values. As the property has cultural heritage value or interest and meets the prescribed criteria pursuant to Part IV, Section 29 of the Ontario Heritage Act, this property should be designated. Designation enables Council to review proposed alterations for the property, enforce heritage property standards and maintenance, and refuse demolition.