Developer’s $ 3- billion plan for Toronto causes concern
Possible building of casino creating controversy
TORONTO — One of Canada’s largest pension funds is planning a $ 3- billion- plus development in downtown Toronto, but the project appears to hinge on approval for a casino — an issue that has generated controversy in the city.
The site of the proposed development by Oxford Properties Group, the real estate arm of OMERS pension fund, is on the south side of Front Street, bounded by Simcoe Street and Blue Jays Way, currently the home of the Metro Toronto Convention Centre.
The development, to be called Oxford Place, includes a revitalized and expanded convention centre, significant new retail, office and residential space, 4,000 new sub- grade parking stalls and an integrated casino and hotel complex.
The casino
would
be funded, built and operated by the casino operator selected by the province of Ontario.
“Although the casino itself represents less than 10 per cent of the project’s area, it is a necessary and essential catalyst for the entire development and is a use that will be complementary to Toronto’s core,” Michael Kitt, Oxford’s executive vicepresident, Canada, said in a statement.
Municipal officials in Toronto are seeking approval for a gaming facility in the city and Oxford is “committed to working with the city and other stakeholders as they move forward with their process.”
“If the decision is made to have a casino in the City of Toronto, Oxford believes it can provide the best location and the ideal solution for all stakeholders,” added Oxford president and CEO Blake Hutcheson.
Ontario Lottery
and Gaming has said it wants a downtown or waterfront site for a new Toronto casino, but some city councillors are opposed to having a casino.
The Ontario government wants a motion approved by council stating the city would be a willing host, and has said it will not force any community to take a casino if it doesn’t want one.
On Friday, Ontario Opposition Leader Tim Hudak renewed his call for communitybased referendums on the issue.
“Our position on the Toronto casino is very simple: any community that wants to have a casino should have a referendum,” the Conservative leader said. “Let the people decide.” A Conservative private members’ bill to require such referendums passed second reading, but is stuck in legislative limbo because there are no committees to give it further study.