Item - 2025.MM29.20
Tracking Status
- City Council adopted this item on April 23 and 24, 2025 without amendments.
MM29.20 - Authority to Align and Extend the Existing Ground Leases at Yonge Street and Eglinton Avenue on the Toronto Transit Commission Lands - by Councillor Josh Matlow, seconded by Councillor Rachel Chernos Lin
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 12 - Toronto - St. Paul's
City Council Decision
City Council on April 23 and 24, 2025, adopted the following:
1. City Council authorize the Toronto Transit Commission, as landlord, to enter the lease amending agreements identified in the recommendations of the Toronto Transit Commission board approved on February 24, 2025, attached as required under Toronto Municipal Code Chapter 279, as the Toronto Transit Commission holds the Lands as agent on behalf of the City.
2. City Council request the Chief Executive Officer, Toronto Transit Commission to consult with the local Councillor and the Executive Director, Development Review, City of Toronto, on the redevelopment plan for the podium space connecting 2180 and 2200 Yonge Street.
Background Information (City Council)
Motions (City Council)
That Councillor Josh Matlow be permitted to add to the agenda of today's meeting an urgent Motion without Notice concerning:
Authority to Align and Extend the Existing Ground Leases at Yonge Street and Eglinton Avenue on the Toronto Transit Commission Lands
Reason for Urgency:
The matter is urgent because the Tenants fear that their anchor tenant may give notice to vacate Canada Square if the amendment to the lease is not heard at April City Council meeting and without the anchor tenant, the Tenants will not be able to secure financing for the new development.