khris
Senior Member
CN Tower, Convention Centre just two of the city's landmarks Ottawa could sell to boost its coffers
Nov 15, 2008 04:30 AM
Kenyon Wallace
Staff Reporter
Finance Minister Jim Flaherty may have been kidding about selling the CN Tower, but the federal government has a large inventory of properties in the GTA that could be considered.
And you might be surprised to learn just what properties are owned by the people of Canada, and could be sold if Flaherty decides the government's coffers need a boost as the impact of a global recession hits home.
"It's a surprise to most Canadians that that's an asset of the government of Canada," Flaherty said of the CN Tower at the Conservative party's national policy convention in Winnipeg Thursday.
"You want to buy it?" the finance minister jokingly asked a reporter.
Well, supposing we did. How much would it cost to own this iconic piece of Canadian architectural history?
Try a cool $105 million. That's according to the Municipal Property Assessment Corporation, as of 2005. Assessed values as of January 2008 are not yet public.
The federal government owns more than 100 properties in the GTA, including post offices, airports, science laboratories, marinas and office buildings. It's a well-diversified portfolio of real estate undoubtedly worth billions.
But some analysts have said that with the current economic downturn, there is arguably no worse time to try selling real estate.
Here's a cross-section of the federal government's inventory and associated values, just in case the feds opt to put some of the properties in the GTA on the market.
THE PROPERTIES:
DOMINON PUBLIC BUILDING,
1 FRONT ST. W.
Owner: Public Works and Government Services Canada
Value: $74,153,000
METRO TORONTO CONVENTION CENTRE,
255 FRONT ST. W.
Owner: Canada Lands Company CLC Ltd.
Value: $238,993,000
CN TOWER,
301 FRONT ST. W.
Owner: Canada Lands Company CLC Ltd.
Value: $105,354,000
TORONTO PEARSON INTERNATIONAL AIRPORT
Owner: Greater Toronto Airports Authority
Value: $2,200,639,000
DOWNSVIEW PARK
Owner: Parc Downsview Park Inc.
Value: $121,175,000
KING CITY WEATHER DOPPLER RADAR STATION
Owner: Environment Canada
Value: $1,005,000
SPADINA SLIP,
QUEENS QUAY W.
Owner: Public Works and Government Services Canada
Value: $58,000
TORONTO POSTAL STATION R,
2 LAIRD DR.
Owner: Canada Post Corporation
Value: $835,000
CANADA CENTRE,
200 TOWN CENTRE CRT., SCARBOROUGH
Owner: Public Works and Government Services Canada
Value: $39,393,000
Source: Municipal Property Assessment Corporation, 2005
Article
Nov 15, 2008 04:30 AM
Kenyon Wallace
Staff Reporter
Finance Minister Jim Flaherty may have been kidding about selling the CN Tower, but the federal government has a large inventory of properties in the GTA that could be considered.
And you might be surprised to learn just what properties are owned by the people of Canada, and could be sold if Flaherty decides the government's coffers need a boost as the impact of a global recession hits home.
"It's a surprise to most Canadians that that's an asset of the government of Canada," Flaherty said of the CN Tower at the Conservative party's national policy convention in Winnipeg Thursday.
"You want to buy it?" the finance minister jokingly asked a reporter.
Well, supposing we did. How much would it cost to own this iconic piece of Canadian architectural history?
Try a cool $105 million. That's according to the Municipal Property Assessment Corporation, as of 2005. Assessed values as of January 2008 are not yet public.
The federal government owns more than 100 properties in the GTA, including post offices, airports, science laboratories, marinas and office buildings. It's a well-diversified portfolio of real estate undoubtedly worth billions.
But some analysts have said that with the current economic downturn, there is arguably no worse time to try selling real estate.
Here's a cross-section of the federal government's inventory and associated values, just in case the feds opt to put some of the properties in the GTA on the market.
THE PROPERTIES:
DOMINON PUBLIC BUILDING,
1 FRONT ST. W.
Owner: Public Works and Government Services Canada
Value: $74,153,000
METRO TORONTO CONVENTION CENTRE,
255 FRONT ST. W.
Owner: Canada Lands Company CLC Ltd.
Value: $238,993,000
CN TOWER,
301 FRONT ST. W.
Owner: Canada Lands Company CLC Ltd.
Value: $105,354,000
TORONTO PEARSON INTERNATIONAL AIRPORT
Owner: Greater Toronto Airports Authority
Value: $2,200,639,000
DOWNSVIEW PARK
Owner: Parc Downsview Park Inc.
Value: $121,175,000
KING CITY WEATHER DOPPLER RADAR STATION
Owner: Environment Canada
Value: $1,005,000
SPADINA SLIP,
QUEENS QUAY W.
Owner: Public Works and Government Services Canada
Value: $58,000
TORONTO POSTAL STATION R,
2 LAIRD DR.
Owner: Canada Post Corporation
Value: $835,000
CANADA CENTRE,
200 TOWN CENTRE CRT., SCARBOROUGH
Owner: Public Works and Government Services Canada
Value: $39,393,000
Source: Municipal Property Assessment Corporation, 2005
Article
