770 Don Mills Road - Memorandum of Understanding with Toronto Lands Corporation

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The decision

2024-07-24 · Toronto City Council · amended

As filed

City Council on July 24 and 25, 2024, adopted the following: 1. City Council authorize the Executive Director, Corporate Real Estate Management, in consultation with the Executive Director, Housing Secretariat and the Chief Executive Officer, CreateTO, to continue negotiations with Toronto Lands Corporation based on terms of the Memorandum of Understanding as outlined in Attachment 1 to the supplementary report (July

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23, 2024) from the Acting Executive Director, Corporate Real Estate Management, and such other terms and conditions as may be considered appropriate by the Executive Director, Corporate Real Estate Management, and to report back to City Council for authority to enter into the agreements contemplated by such Memorandum if their terms cannot be authorized pursuant to staff's existing delegated real estate authority. 2. City Council direct that Confidential Attachment 1 to the report (June 5, 2024) from the Chief Executive Officer, CreateTO remain confidential in its entirety, as it deals with a proposed or pending disposition of land by the City of Toronto. Confidential Attachment 1 to the report (June 5, 2024) from the Chief Executive Officer, CreateTO remains confidential in its entirety in accordance with the provisions of the City of Toronto Act, 2006, as it deals with a proposed or pending disposition of land by the City of Toronto.

On the agenda

As the city filed it

At its meeting on June 19, 2024, the Board of Directors of CreateTO considered Item RA12.2 and made recommendations to City Council. Summary from the report (June 5, 2024) from the Chief Executive Officer, CreateTO: The purpose of this report is to inform the Board of Directors of CreateTO of the ongoing discussions between CreateTO staff and the Toronto Lands Corporation ("TLC"), on behalf of the Toronto District School Board ("TDSB"), in respect of the opportunity to incorporate a public elementary school within the Housing Now development at 770 Don Mills Road.

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770 Don Mills Road (the "Site") is a Phase 1 Housing Now site located at the southwest corner of Don Mills Road and Eglinton Avenue East. The Site is located directly adjacent to the Eglinton Crosstown LRT Science Centre station, a future Ontario Line station, as well as directly north of the Ontario Science Centre. The Site is currently a 5.48 acre vacant surface parking lot. The proposed mixed-use, mixed-income development for the Site consists of three towers of 37-storeys, 48-storeys and 39-storeys in height and having a total of 1,254 residential units. It is proposed that 1/3 of the units will be affordable rental and 2/3 of the units will be market units. There will also be a new 62-space non-profit childcare, a new public park, new public road and new retail as part of the overall development. The TDSB elementary school will be located in the base podium of Block 2, the 39-storey residential tower (see Attachment 1). The Site obtained Re-zoning and Draft Plan of Subdivision approvals in June 2022 with no notice of appeal and is in full force and effect. The TDSB elementary school was contemplated as a use early in the re-zoning process and is incorporated as part of the approved zoned lands. As part of the Don Mills Crossing Secondary Plan, there is also a requirement for a minimum Floor Space Index (FSI) of 1.0 of non-residential uses within the base of mixed-use developments. By incorporating the elementary school into the development at 770 Don Mills, this assists in achieving this Secondary Plan policy. Subject to market conditions, the Site will be taken out for a market offering to seek a development partner in Q4 2024. Prior to bringing the Site to market, the deal terms with TLC need to be confirmed in order to provide clarity to developer proponents on what their role and responsibilities will be in delivering the elementary school as part of the overall proposed development. Providing for an elementary school at this location meets TLC/TDSB's strategic plan goals by providing for a much-needed school in this neighbourhood and will benefit students and the surrounding community. This partnership represents a great example of how two public agencies can work together to deliver on community benefits and achieve the goals of both organizations. This could also be a framework for future joint partnerships between TLC and the City of Toronto, whereby schools and residential developments can be delivered creatively together on public land

Staff recommended

The Board of Director of Create TO recommends that: 1. City Council approve the terms of the Memorandum of Understanding substantially as outlined in Confidential Attachment 1 to the report (June 5, 2024) from the Chief Executive Officer, CreateTO and: a. direct the Chief Executive Officer, CreateTO, in consultation with the Executive Director, Corporate Real Estate Management to negotiate and finalize the Purchase Agreement, Tri-Party Development Agreement, Reciprocal Rights and Cost Sharing Agreement and such other agreements and documents as may be required in order to finalize the arrangement with Toronto Lands Corporation and Toronto District School Board; and b.

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authorize the Deputy City Manager, Corporate Services, and the necessary City of Toronto authorities to execute the Purchase Agreement, Tri-Party Development Agreement, and such other agreements and documents, and take such other steps as may be required in order to finalize the arrangement with Toronto Lands Corporation and Toronto District School Board provided, they are materially in accordance with the terms of the Memorandum of Understanding. 2. City Council direct the information contained in Confidential Attachment 1 to the report (June 5, 2024) from the Chief Executive Officer, CreateTO remain confidential in its entirety, as it deals with a proposed or pending disposition of land by the City of Toronto.

Considered

2024-07-11 · Planning and Housing Committee · amended
Decision as filed
The Planning and Housing Committee recommends that: 1. City Council approve the terms of the Memorandum of Understanding substantially as outlined in Confidential Attachment 1 to the report (June 5, 2024) from the Chief Executive Officer, CreateTO and: a. direct the Chief Executive Officer, CreateTO, in consultation with the Executive Director, Corporate Real Estate Management to negotiate and finalize the Purchase Agreement, Tri-Party Development Agreement, Reciprocal Rights and Cost Sharing Agreement and such other agreements and documents as may be required in order to finalize the arrangement with Toronto Lands Corporation and Toronto District School Board; and b.
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authorize the Deputy City Manager, Corporate Services, and the necessary City of Toronto authorities to execute the Purchase Agreement, Tri-Party Development Agreement, and such other agreements and documents, and take such other steps as may be required in order to finalize the arrangement with Toronto Lands Corporation and Toronto District School Board provided, they are materially in accordance with the terms of the Memorandum of Understanding. 2. City Council direct the information contained in Confidential Attachment 1 to the report (June 5, 2024) from the Chief Executive Officer, CreateTO remain confidential in its entirety, as it deals with a proposed or pending disposition of land by the City of Toronto.
Clerk’s note
The Planning and Housing Committee: 1. Requested the Executive Director, Corporate Real Estate Management, in consultation with the Executive Director, Housing Secretariat, provide a supplementary report directly to City Council following a review of the terms of the Memorandum of Understanding contained within the Confidential Attachment 1 to the report (June 5, 2024) from the Chief Executive Officer, CreateTO.
2024-07-24 · Toronto City Council · amended

On the record

The item as the City filed it

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