Third Party Lease Terminations Affecting Provincially Owned Buildings within the Panam Athletes’ Boundary
The area identified as the West Donlands, an area of the Toronto Waterfront that had a legacy of contamination, was originally expropriated by the province in 1987 under an affordable housing plan named Ataratiri. Infrastructure Ontario and Waterfront Toronto worked in collaboration to deliver the lands for use as an Athletes’ Village for the 2015 Pan/Parapan American Games. Several buildings in the area (owned by the province) were under third party leases. The province required control of the lands for environmental testing and eventual vacant possession, and several third party leases within the West Donlands boundary did not have termination options in favour of the landlord (the province).
Strategy and Outcome
A strategy was developed to manage and enforce the contract terms of the third party leases. No further renewal options were granted to the tenants and control of the premises were ensured by strict adherence to the provisions of the lease. Some tenants were offered assistance in finding alternative accommodations.
We were able to secure vacant possession of all third party leased premises and generate a significant increase in short-term revenue for the province.