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CANADIANLAWYERMAG.COM/INHOUSE MARCH 2016
he successful bidder for 11 acres of prized waterfront
real estate, near the foot of Yonge Street in downtown
Toronto, is expected to be announced later this month.
The site is the former location of the head offi ce of the
Liquor Control Board of Ontario and what used to be
one of its fl agship retail outlets.
It is also one of the more high-profi le examples of
a growing trend right across the country, where cash-
strapped governments at all levels, as well as school boards
and other public agencies, look to their real estate holdings
as a source of much-needed revenue.
The deals can bring
much-needed dollars to
the public sector, but
the sale of government-
owned real estate can be
more political and take
longer than a purely
private transaction.
BY SHANNON KARI
