$800M new home for teach­ers’ pen­sion

Times Colonist - - Business -

TORONTO — Cadil­lac Fairview and the In­vest­ment Man­age­ment Cor­po­ra­tion of On­tario will build a 46-storey office tower in Toronto that will be­come the new home of the On­tario Teach­ers’ Pen­sion Plan. The com­mer­cial real es­tate com­pany hopes to se­cure ad­di­tional ten­ants be­fore the $800-mil­lion build­ing opens in the fall of 2022. The build­ing will be sit­u­ated on the north­east cor­ner of Front Street and Sim­coe Street in down­town Toronto. It is part of flurry of re­cent in­vest­ments from Cadil­lac Fairview, in­clud­ing $1.5 bil­lion in office projects and $25 mil­lion for the redevelopment of a former Sears lo­ca­tion at CF Cham­plain mall in Monc­ton. Since 2000, Cadil­lac Fairview has been wholly owned by the pen­sion plan, which cur­rently has a head office in North York.

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