During 2013, preliminary work continued on the redevelopment of the TPA property at Bay and Harbour Streets. TPA headquarters, the landmark Toronto Harbor Commission building at 60 Harbour Street, will be preserved and will anchor the 1.8-acre site.
Oxford Properties Group, the real estate investment arm of the OMERS Worldwide Group of Companies, will build and manage the 30 Bay/60 Harbour Project. The significant development initiative will solidify the TPA’s long-term financial sustainability planning and will increase our ability to undertake essential public works projects over the coming years.
Once completed, the redevelopment will enable the TPA to showcase our historic headquarters in an enhanced public arena while also creating a new and exciting space to support the city’s expanding financial services sector and the overall growth in Toronto’s South Core. The proposed 1.2 million-square-foot development will provide high-quality office and commercial opportunities, which is consistent with the City of Toronto’s goal of achieving the right balance of office, commercial, and residential mixed-use in the South Core area. A public consultation process will be incorporated into the planning and design phase expected to begin in late 2014.